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Sam Bankman-Fried, the founder of the now-defunct Cryptocurrency exchange FTX, has filed an appeal following his conviction on multiple charges, including fraud, conspiracy, and money laundering. The appeal, filed on Friday, raises concerns about the conduct of Judge Lewis A. Kaplan, who oversaw the case.
Bankman-Fried's conviction came after a monthlong trial in New York last fall. He was accused of orchestrating a scheme to defraud FTX customers, resulting in the loss of $8 billion. In March, Judge Kaplan sentenced him to 25 years in prison.
Sam Bankman-Fried Appeals Conviction, Citing Unfair Trial
Sam Bankman-Fried, the founder of the collapsed cryptocurrency exchange FTX, has filed an appeal, arguing that his trial was unfair and biased. His legal team claims the court prevented him from presenting evidence that FTX and its sister firm, Alameda Research, were solvency while allowing prosecutors to focus on customer losses.
The appeal criticizes Judge Lewis A. Kaplan, accusing him of lacking objectivity during the trial. Bankman-Fried's attorneys are asking for a new trial before a different judge, claiming the previous one did not handle the case impartially.
At the same time, Caroline Ellison, Bankman-Fried's former girlfriend and colleague at Alameda, has requested that the court spare her from prison. Ellison pleaded guilty, cooperated with prosecutors, and was a key witness against Bankman-Fried. Her testimony, along with that of other former FTX employees, played a significant role in his conviction.
Bankman-Fried's team pushes for a fresh trial as the legal battle progresses, arguing that the initial proceedings were flawed and unfairly influenced the outcome.
SBF's Ex-Girlfriend Prefers No Prison Term
Caroline Ellison, the former executive at FTX and ex-girlfriend of Sam Bankman-Fried, is asking a Manhattan federal court to spare her from prison at her sentencing scheduled for September 24. Her lawyers submitted the request earlier this week, hoping her cooperation with prosecutors will lead to leniency.
Meanwhile, FTX's former headquarters in the Bahamas remain a symbol of the company's dramatic rise and fall. Real estate experts say FTX overpaid for regional properties, leading to a bubble in the local market.
In a related development, FTX investors may be willing to drop their legal claims against Bankman-Fried if he agrees to cooperate in other ongoing legal battles.
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