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Bankman-Fried challenges conviction, seeks new trial over bias claims

GrafaGrafa2024/09/15 07:15
By:Liezl Gambe

Sam Bankman-Fried, the founder of FTX (CRYPTO:FTT), has filed an appeal to overturn his conviction for fraud and conspiracy, arguing that his trial was unfair and biased. 

The appeal, filed on September 13, is a 102-page document where Bankman-Fried’s legal team claims that the court proceedings were prejudiced against him from the beginning, describing the situation as a “sentence first, verdict afterward.” 

They argue that he was presumed guilty even before any charges were formally brought against him.

Led by attorney Alexandra Shapiro, Bankman-Fried’s legal team contends that everyone involved, including the judge, assumed his guilt. 

"Sam Bankman-Fried was never presumed innocent. He was presumed guilty — before he was even charged," the legal team stated, adding that the media, FTX’s bankruptcy lawyers, federal prosecutors, and the judge all played a part in this biased perception. 

The appeal further criticises U.S. District Judge Lewis Kaplan, alleging that his remarks during the trial were indicative of bias, effectively influencing the trial's outcome. 

The defense claims, “Many of the judge’s rulings were not just erroneous but unbalanced — repeatedly putting a thumb on the scale to help the government and thwart the defense.”

The appeal also targets Sullivan & Cromwell, the law firm that handled FTX’s bankruptcy. 

Bankman-Fried’s lawyers accused the firm of improper conduct by shifting all blame to him while avoiding scrutiny of its own potential conflicts of interest and exorbitant billing practices. 

They alleged that Sullivan & Cromwell “performed prosecutorial tasks that had nothing to do with bankruptcy,” raising concerns about the law firm's impartiality.

Given these points, Bankman-Fried is requesting a new trial with a different judge. 

Convicted on seven counts of fraud and conspiracy, he was sentenced to 25 years in prison and ordered to forfeit $11 billion. 

The defense argues for a fresh trial to ensure a fair and unbiased judicial process.

At press time, the FTX (FTT) price was $1.32.

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