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Former FTX CEO Sam Bankman-Fried has challenged his 25-year sentence following his five-week trial late last year.
According to the New York Times, Bankman-Fried <a href="https://www.nytimes.com/2024/09/13/technology/ftx-sam-bankman-fried-appeal.html" target="_blank" rel="noopener noreferrer nofollow">appealed</a> a November 2023 court <a rel="noopener noreferrer nofollow" href="https://crypto.news/ftx-founder-sam-bankman-fried-is-guilty-to-all-charges-crypto-community-reacts/">ruling</a> that found the FTX founder guilty of defrauding investors of over $8 billion.
His new lawyer, Alexandra A.E. Shapiro, argued that Judge Kaplan, the presiding judge, presumed Bankman-Fried guilty from the start. The 102-page filing requested a new trial, claiming Judge Kaplan hindered Bankman-Fried’s defense and limited evidence.
Once a crypto mogul and billionaire, Bankman-Fried has been serving a 25-year sentence in a federal prison facility since last year.&nbsp;
Since his trial in Manhattan, FTX’s former CEO has maintained a semblance of innocence, insisting he never intended to siphon billions of customer funds or conceal the firm’s financial health from investors and regulators.
You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/the-dispute-between-ftx-and-the-cftc-is-finally-resolved-what-was-it-worth/"> The dispute between FTX and the CFTC is finally resolved: What was it worth? </a>
Other FTX executives who signed plea deals, like former Alameda CEO Caroline Ellison and Ryan Salame, also face prison time. Ellison’s lawyers <a rel="noopener noreferrer nofollow" href="https://crypto.news/attorneys-push-for-no-prison-time-for-caroline-ellison-in-ftx-fraud-case/">pushed</a> for a supervised release while Salame <a rel="noopener noreferrer nofollow" href="https://crypto.news/former-ftx-tied-politician-accused-of-campaign-finance-crime/">tussled</a> with Justice Department prosecutors over campaign finance probes on his partner.
Nearly two years after FTX’s collapse, related litigation is advancing on multiple fronts. The defunct exchange, its sister company Alameda, and the Commodity Futures Trading Commission <a rel="noopener noreferrer nofollow" href="https://crypto.news/us-judge-approves-12-7b-settlement-between-ftx-alameda-and-cftc/">reached</a> a court-approved $12.7 billion settlement agreement last month.
The Securities and Exchange Commission also indicated it may <a rel="noopener noreferrer nofollow" href="https://crypto.news/sec-criticized-for-dubious-stablecoin-stance-in-ftx-bankruptcy/">contest</a> FTX’s plans to repay creditors using stablecoins in its bankruptcy proceedings.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/the-next-chapter-in-the-robinhood-stock-saga-what-solution-ftx-offers-to-the-conflict/"> The next chapter in the Robinhood stock saga: What solution FTX offers to the conflict </a>

Sam Bankman-Fried demands new trial over FTX fraud verdict

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