Sam Bankman-Fried appeals his conviction, arguing key evidence was improperly excluded, denying him a fair trial. His legal team seeks a retrial under a different judge.
Bollywoodfever: Sam Bankman-Fried, co-founder of the collapsed cryptocurrency exchange FTX, has filed an appeal against his conviction, claiming that crucial evidence was improperly excluded during his trial.
His legal team argues that these legal missteps prevented him from receiving a fair trial and are calling for a retrial with a different judge.
In the appeal filed with the U.S. Court of Appeals for the Second Circuit, Bankman-Fried’s attorneys, led by Alexandra Shapiro, contend that the district court made several critical errors. One key issue they raise is the court’s exclusion of evidence that Bankman-Fried believed FTX was solvent at the time of its collapse and that he acted in good faith.

According to the appeal, the prosecution was able to present evidence of customer losses, but the defense was blocked from showing evidence that could have provided a fuller picture.
“The jury was only allowed to see half the picture,” Shapiro states, emphasizing that the exclusion of this evidence misled the jury into believing that FTX customers’ funds were permanently lost.
Another significant argument in the appeal centers around the exclusion of Bankman-Fried’s testimony that he relied on legal advice when making business decisions at FTX.
The defense argues that this exclusion prevented him from defending against claims that he knowingly engaged in fraudulent activities.
Shapiro insists that the lack of this evidence unfairly hindered Bankman-Fried’s ability to present his side of the story.

Additionally, the appeal raises concerns about the district court’s jury instructions. Bankman-Fried’s legal team asserts that the court improperly lowered the government’s burden of proof by suggesting that he could be convicted without proof of intent to cause financial losses.
Shapiro explains that the instructions “watered down or eliminated” essential elements of proving intent to defraud, further compounding the trial’s legal errors.
Bankman-Fried’s legal team is also challenging the $11 billion forfeiture judgment, arguing that the statute used to authorize the financial penalty was applied improperly. They claim that the judgment is overly broad, especially given that Bankman-Fried had no intent to permanently deprive FTX customers of their funds.
The appeal calls for a new trial, under a different judge, to ensure fairness and impartiality. Bankman-Fried’s legal team remains focused on overturning his conviction and obtaining a retrial.
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