The former FTX CEO, currently in jail after being convicted of fraud and conspiracy, is asking for a new trial. On Friday, his lawyers submitted a brief to the US Court of Appeals for the Second Circuit in New York. They argue that the trial judge showed bias and that their client, currently serving a 25-year sentence at the Metropolitan Detention Center in Brooklyn, should get a new trial assigned to another judge.
Sam Bankman-Fried’s lawyers claim that the trial judge “imposed a draconian quarter-century sentence on this first-time, non-violent offender.” They also say that the judge made the jury hurry to reach a verdict in a day, while the case was a four-week complex one.
The 102-page appeal claimed that several rulings by the judge hampered the defense team’s efforts, as their client was considered “presumed guilty,” among other things.
The 32-year-old former CEO of FTX was arrested in December 2022. He was granted bail under strict conditions and remained at his Stanford professor parents’ home in Palo Alto, California. He was later jailed because he broke the bail conditions. He was convicted in November 2023 on fraud and conspiracy charges.
Sam Bankman-Fried’s companies collapsed as investors rushed to withdraw their funds from the beleaguered cryptocurrency marketplace. He was found guilty of spending money that belonged to investors on a lavish lifestyle that included deluxe real estate and celebrity endorsements. The company also made bipartisan political contributions to both Republicans and Democrats.
Sam Bankman-Fried pleaded not guilty to the charges against him, while three senior executives of FTX, including his former girlfriend, Caroline Ellison, pleaded guilty to the prosecutors’ charges.
Many defendants attempt to change their convictions, citing legal errors committed during the trial. One such high-profile recent case was that of disgraced entertainment mogul Harry Weinstein. This is a different attempt, where lawyers present alleged bias and a quick push for a quick verdict that prevented the defense team from giving their client a proper defense.
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