NEW YORK / LONDON (IT BOLTWISE) – Former crypto entrepreneur Sam Bankman-Fried, known for the collapse of crypto exchange FTX, is fighting his fraud conviction. His lawyers argue he was denied a fair trial because key evidence was not admitted. But the appeal judges are skeptical about these arguments.
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Sam Bankman-Fried, once celebrated crypto entrepreneur and founder of crypto exchange FTX, is in the spotlight again, but this time in front of a Manhattan appeals court. His lawyers argue that the trial against him was unfair because key evidence, particularly that shedding light on the role of lawyers in his decisions, was not admitted. Bankman-Fried is currently serving a 25-year prison sentence after being convicted of fraud.
However, the appeal court judges were skeptical of the defense’s arguments. Judge Barrington D. Parker noted that the evidence against Bankman-Fried was overwhelming and questioned whether allowing more testimony would actually have resulted in an acquittal. Judges Eunice C. Lee and Maria Araujo Kahn also shared this skepticism.
Bankman-Fried’s defense, represented by attorney Alexandra Shapiro, emphasized that the original trial judge, Lewis A. Kaplan, improperly limited Bankman-Fried’s testimony. This prevented the jury from getting a full picture of the role of lawyers in its decisions. Shapiro argued that prosecutors’ account that customers lost billions was misleading.
The public prosecutor, represented by Nathan Rehn, countered that the proceedings were fair and the evidence was clear. Three of four people who knew Bankman-Fried was illegally using client funds for investments and political donations testified against him. The appeal decision is expected at a later date, but the judges’ skepticism suggests that the ruling is unlikely to be overturned.
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