Sun Sep 15 17:14:39 UTC 2024: ## Former FTX CEO Sam Bankman-Fried Appeals Conviction, Citing Unfair Trial and Bias

**New York, NY** – Sam Bankman-Fried, the former CEO of the collapsed cryptocurrency exchange FTX, has filed an appeal of his conviction on seven felony counts, seeking a new trial. Bankman-Fried was sentenced to 25 years in prison in November 2023 for his role in the FTX fraud and conspiracy.

The appeal, filed in the United States Court of Appeals for the Second Circuit, argues that Bankman-Fried was denied a fair trial due to a series of alleged biases and procedural errors.

Specifically, the legal team alleges:

* **Premature Presumption of Guilt:** Bankman-Fried was “presumed guilty” by media, the FTX debtor estate, prosecutors, and even the presiding judge, Judge Lewis Kaplan.
* **Judge Bias:** Judge Kaplan made “biting comments” that undermined the defense and “derided” Bankman-Fried’s testimony in front of the jury, demonstrating a bias against the defendant.
* **Suppressed Evidence:** Bankman-Fried was prevented from presenting evidence that FTX was not insolvent and had the funds to reimburse customers, despite the liquidity crisis. The defense argues that investments made by FTX, such as a $500 million investment in Anthropic, were “prescient” and not risky.
* **Cooperation Beyond the Scope:** Attorneys for the FTX bankruptcy estate allegedly worked too closely with the US Department of Justice, providing information beyond “cooperation” and effectively acting as an “arm of the prosecution.”

The appeal argues that these actions denied Bankman-Fried the chance to present his defense and created an “objectively false” narrative against him.

The filing highlights the cooperation of several of Bankman-Fried’s former associates, including his ex-girlfriend Caroline Ellison and former Alameda CEO Nishad Singh, who pleaded guilty and testified against him. While several of these individuals have been sentenced, Ellison is scheduled to be sentenced on September 24th and has requested no jail time.

The appeal is a significant development in the ongoing FTX saga. It remains to be seen whether the appellate court will grant Bankman-Fried a new trial or uphold the original conviction.

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