Sam Bankman-Fried Appeals 25-12 months Sentence, Claims He Was Presumed Responsible

Sam Bankman-Fried, the convicted co-founder of collapsed crypto alternate FTX, has filed an attraction difficult his 25-year jail sentence.

His authorized crew argues he was “presumed responsible” from the outset and denied a good trial attributable to judicial bias and public prejudice.

In keeping with a Bloomberg report on Tuesday, Bankman-Fried’s attorneys submitted a submitting to the U.S. Court docket of Appeals for the Second Circuit in New York, alleging their shopper’s conviction stemmed from a “rush to judgment” by prosecutors, the media, and U.S. District Choose Lewis Kaplan.

“Sam Bankman-Fried was by no means presumed harmless. He was presumed responsible—earlier than he was even charged,” the protection acknowledged.

The submitting accuses Choose Kaplan of displaying bias throughout proceedings, claiming he “repeatedly ridiculed” the protection crew and confirmed disbelief in Bankman-Fried’s testimony earlier than the jury.

Sam Bankman-Fried Conviction and Attraction Technique

Bankman-Fried was convicted in 2023 on seven counts of fraud and conspiracy associated to the collapse of FTX and its buying and selling affiliate, Alameda Analysis.

Prosecutors alleged he misappropriated over $8 billion in buyer funds to cowl losses, make political donations, and finance luxurious actual property purchases.

Regardless of claiming he by no means supposed to defraud anybody, jurors returned a responsible verdict after lower than 5 hours of deliberation.

Main the attraction is Alexandra Shapiro, a seasoned appellate legal professional identified for overturning high-profile white-collar convictions.

She just lately gained on behalf of Iconix Model Group founder Neil Cole, who was cleared by the Second Circuit final week.

Shapiro plans to argue that Choose Kaplan unfairly restricted Bankman-Fried’s skill to current proof, together with his declare that FTX had ample property to repay clients and that his actions had been guided by authorized recommendation from firm counsel.

The protection asserts Kaplan pressured jurors into a fast determination by providing to increase deliberations late into the night with dinner supplied.

They declare the decide’s remarks, together with calling a part of Bankman-Fried’s testimony “a joke“, compromised trial equity. The attraction seeks to overturn his 25-year sentence and problem the $11 billion restitution order.

His attorneys are requesting a brand new trial beneath a unique decide.

Pardon Hypothesis

Reviews earlier this yr indicated SBF’s dad and mom explored attainable avenues for a presidential pardon from President Donald Trump.

In March, Bankman-Fried appeared on Tucker Carlson’s podcast, criticizing former SEC Chair Gary Gensler.

Final month, a put up on his official X account alleged that “Biden’s anti-crypto SEC/DOJ went after him and arrested him in 2022 to stop his testimony on Capitol Hill.

“That they had me arrested weeks earlier than the crypto invoice I used to be engaged on was set for a vote—and the evening earlier than I used to be set to testify earlier than Congress,” the put up acknowledged.

Whereas Bankman-Fried’s authorized crew stays assured, authorized consultants recommend overturning a high-profile conviction of this nature stays unsure.

High crypto voices consider SBF isn’t any Ross Ulbricht or Changpeng Zhao, and a pardon would ship a harmful message to unhealthy actors.

Eliminating penalties lower than a yr after sentencing may embolden different entrepreneurs to prey on buyers.

Influence of FTX Collapse on Victims

FTX’s collapse has had a profound affect on its victims. One creditor wrote forward of SBF’s sentencing:

“My entire life has been destroyed. I’ve two younger kids, one born proper earlier than the collapse. Past the cash, I misplaced my happiness, my skill to get off the bed, my want to proceed residing. My spouse is suicidal and depressed.”

Others described being delivered to the brink of shedding their houses, and the way exhausting work to drag their households out of “generational poverty“was undone when FTX abruptly halted withdrawals.

Bankman-Fried is presently serving his sentence in a federal facility in California and isn’t anticipated to look on the attraction listening to.

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