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Sam Bankman-Fried Pushes for New Trial in Bid to Challenge Fraud Conviction

Key Takeaways

  • Sam Bankman-Fried seeks a new fraud trial and says new testimony could weaken the case that led to his 25-year prison sentence;
  • He challenges the original verdict, claims bias from Judge Kaplan, and asks for a different judge to review the new-trial request;
  • His motion relies on statements from two former FTX executives who he says could dispute the prosecution’s view of FTX’s finances.

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Sam Bankman-Fried Pushes for New Trial in Bid to Challenge Fraud Conviction

Sam Bankman-Fried has asked a federal judge in New York to approve a new trial on the fraud charges that led to his 25-year sentence.

He submitted the request on February 5 in the Manhattan federal court. Bloomberg reported that the motion is separate from his main appeal.

The motion reached the court through Bankman-Fried’s mother, Barbara Fried, a retired Stanford law professor.

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The judge is currently reviewing it. However, Bloomberg called the attempt unlikely to succeed.

Even so, the filing shows that Bankman-Fried is continuing to dispute the verdict. The collapse of FTX had wide effects in the crypto industry, and he is still challenging the findings from his 2023 trial.

His request centers on potential testimony from former FTX executives Daniel Chapsky and Ryan Salame. He argues that their statements could counter the prosecution’s view of FTX’s financial state before the company failed in November 2022.

The motion also asks for a different judge to review the matter. Bankman-Fried claims that trial judge Lewis Kaplan showed “manifest prejudice” during the case.

His claims align with arguments raised at his appeal hearing. His lawyer said Kaplan blocked the defense from telling jurors that FTX had enough funds to repay investors.

Recently, Bankman-Fried began supporting US President Donald Trump while criticizing former President Joe Biden. What did he say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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