Imprisoned FTX co-founder and former CEO Sam Bankman-Fried has appealed to overturn his fraud conviction, courtroom paperwork filed Friday present.
The enchantment from Bankman-Fried’s attorneys argues that he by no means received a good trial and will subsequently be tried once more below a brand new decide.
“He was presumed responsible—earlier than he was even charged,” attorneys for Bankman-Fried wrote.
“He was presumed responsible by the media,” the submitting continues. “He was presumed responsible by the FTX debtor property and its attorneys. He was presumed responsible by federal prosecutors longing for fast headlines. And he was presumed responsible by the decide who presided over his trial.”
FTX was an enormous crypto trade that immediately collapsed in November 2022, with the preliminary liquidity crunch giving technique to proof of great fraud and mismanagement. Bankman-Fried was arrested shortly after, and following a trial, was convicted of fraud final November. He’ll serve 25 years behind bars.
Bankman-Fried and his group criminally mismanaged the corporate. FTX’s predominant product was a preferred crypto trade that allowed clients to purchase, promote, and wager on the long run costs of digital property. However money deposited by clients was illegally utilized by Bankman-Fried and associates to make dangerous bets by way of sister funding agency Alameda Analysis, resulting in a fast collapse.
Editor’s word: This story is breaking and shall be up to date with extra particulars.
Edited by Andrew Hayward
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