Sam Bankman-Fried files to appeal conviction and sentence

Turner Wright5 hours agoSam Bankman-Fried files to appeal conviction and sentenceThe notice of appeal was filed electronically on April 11, nearly two weeks after the former FTX CEO was sentenced to 25 years in prison.1377 Total views14 Total sharesListen to article 0:00Breaking newsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksLawyers representing Sam “SBF” Bankman-Fried have filed the paperwork to appeal the conviction and sentence of the former FTX CEO.

In an April 11 notice filed in the United States District Court for the Southern District of New York, attorney Alexandra Shapiro said Bankman-Fried intended to appeal his conviction on seven felony counts by a jury and Judge Lewis Kaplan’s sentence of 25 years in federal prison. SBF’s lawyers said they planned to appeal at the March 28 sentencing hearing, so the filing was expected.Source: CourtListener

The filing came two weeks after Bankman-Fried’s sentencing hearing, at which Judge Kaplan also ordered the forfeiture of $11 billion. On April 8, the former FTX CEO’s lawyers asked the judge to approve an order allowing SBF to remain at the Metropolitan Detention Center in Brooklyn for the appeal rather than a federal prison in the San Francisco Bay Area.

The case against Bankman-Fried and his associates began in November 2022, when cryptocurrency exchange FTX experienced liquidity issues and filed for bankruptcy. SBF was arrested in the Bahamas — where the firm’s offices were at the time — before being extradited to the U.S. and charged with fraud. A jury convicted Bankman-Fried of seven felony counts in November 2023.

Affected crypto users seem to have split opinions on Judge Kaplan’s sentencing. Many suggested that 25 years was insufficient given the amount of harm Bankman-Fried caused thousands of FTX customers, while others hinted that the time in prison could be an effective deterrent to figures in the space.

Related:FTX co-CEO Salame"s sentencing moved to end of May

Bankman-Fried’s filing will now likely go to the Second Circuit Court of Appeals, where a panel of judges could decide whether to affirm the decision in the former FTX CEO’s conviction in federal court or reverse the decision and set the groundwork for a possible new trial. Shapiro’s filing did not suggest on what grounds SBF would seek an appeal.

Sentencing hearings against Bankman-Fried’s associates at FTX and Alameda Research — including Ryan Salame, Caroline Ellison, Gary Wang and Nishad Singh — are moving forward, with Salame’s sentencing scheduled for May 28. The four individuals all pleaded guilty and accepted deals before SBF’s trial.

Magazine:‘Less flashy’ Mashinsky set for less jail time than SBF: Inner City Press, X Hall of Flame# Law# United States# Court# Crimes# Sam Bankman-Fried# FTX# RegulationAdd reaction