SBF makes an appeal to overturn the sentence based on claims of unfair treatment by the judges

The defense contended that the judge had prejudged SBF and requested a new trial.

Sam Bankman-Fried (SBF), the co-founder of the failed crypto exchange FTX, has filed an appeal on Sept. 13 to challenge his fraud conviction. He contends that the trial was tainted by judicial prejudice and procedural errors.

On September 13, the Second Circuit Court of Appeals received the appeal, which alleged that the legal proceedings that led to SBF’s 25-year prison sentence were unjust. The appeal also requested a new trial.

In October 2023, SBF was found guilty of a variety of charges, including conspiracy and fraud, for his involvement in the dramatic collapse of FTX the previous year.

Lewis Kaplan, the United States District Judge, sentenced him to 25 years in prison in March. Alexandra Shapiro, the attorney who leads SBF’s new legal team, claims that Kaplan’s management of the case was biassed and improperly influenced the outcome.

In his appeal, Shapiro alleged that Judge Kaplan made prejudicial remarks to the jury, portraying SBF as culpable prior to the trial’s conclusion. In addition, the defense criticized the judge for limiting crucial defense arguments, such as evidence regarding SBF’s investments that could have demonstrated his efforts to stabilize the company.

In addition, SBF’s denial of access to exculpatory evidence—also called Brady material—that may have bolstered his defence was one of the procedural points brought up in the appeal. His legal team argued that the government and the bankruptcy estate responsible for FTX’s dissolution were too closely involved, which restricted the defense’s capacity to present a comprehensive case.

At the core of SBF’s defense is his assertion that the financial difficulties of FTX were not as severe as they were depicted and that numerous consumers could reclaim their funds through bankruptcy proceedings. His legal team contended that the court had unjustly withheld this argument from the jury, resulting in an incomplete representation of the company’s financial status.

The appeal also emphasized the testimony of several of SBF’s erstwhile associates, such as Caroline Ellison and Gary Wang, who cooperated with prosecutors after having pleaded guilty to fraud charges. The prosecution’s case against the FTX founder was fundamentally based on these testimonies.

Initially, SBF’s defense sought a reduced sentence, contending that he did not have criminal intent and that the collapse of FTX was the result of market conditions and mismanagement, rather than deliberate fraud. Nevertheless, his most recent appeal aims to completely overturn the conviction, with the ultimate objective of obtaining a new trial.

SBF continues to serve his sentence while in custody as the appeal procedure commences. The outcome of the appeal could have substantial implications for his future and the broader repercussions of FTX’s collapse, which remains a critical moment in the crypto industry’s history.

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