Fri Sep 13 21:16:00 UTC 2024: ## Bankman-Fried’s Lawyers Appeal Conviction, Claiming He Was “Presumed Guilty”
NEW YORK (AP) – Lawyers for former FTX CEO Sam Bankman-Fried have filed an appeal seeking to overturn his fraud conviction and secure a new trial. They argue that a rush to judgment by the public, media, and even the judge, unfairly painted Bankman-Fried as guilty before he was even charged.
The appeal, filed with the 2nd U.S. Circuit Court of Appeals, claims that Bankman-Fried was “presumed guilty” before his trial due to widespread negative publicity and a “draconian” sentence imposed by the trial judge. The lawyers highlight that the jury was pressured to deliver a verdict in just one day, despite the complex nature of the four-week trial.
They further argue that the narrative surrounding the case has shifted, revealing that FTX was not insolvent and had sufficient assets to repay customers. This information, they claim, was never presented to the jury.
Bankman-Fried was convicted last November of fraud and conspiracy charges, stemming from the collapse of his cryptocurrency exchange FTX. The jury concluded that customer funds were misappropriated for various purposes, including real estate, investments, and lavish lifestyles.
The appeal comes as Bankman-Fried is currently serving a 25-year sentence, described by prosecutors as one of the biggest financial frauds in U.S. history. The prosecution has declined to comment on the appeal.
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