Attorneys representing Sam “SBF” Bankman Fried have filed papers appealing the former FTX CEO’s conviction and sentence.
In an April 11 notice filed in the U.S. District Court for the Southern District of New York, attorney Alexandra Shapiro said: Said Mr. Bankman Freed was convicted by a jury of seven felonies and sentenced to 25 years in federal prison by Judge Lewis Kaplan, and intended to appeal. The lawsuit was expected, as SBF’s lawyers said they planned to appeal at the March 28 sentencing hearing.
The filing comes two weeks after Bankman Fried’s sentencing hearing, where Judge Kaplan also ordered the forfeiture of $11 billion. On April 8, lawyers for the former FTX CEO asked a judge to approve an order allowing SBF to remain at the Metropolitan Detention Center in Brooklyn, rather than a federal prison in the San Francisco Bay Area, pending his appeal.
The lawsuit against Bankman Freed and its associates began in November 2022, when cryptocurrency exchange FTX filed for bankruptcy due to liquidity issues. SBF was arrested in the Bahamas (where the company’s offices were located at the time) and later extradited to the United States to face fraud charges. A jury convicted Bankman Freed of seven felonies in November 2023.
Affected cryptocurrency users appear to be divided on Judge Kaplan’s ruling. Many suggested that 25 years was insufficient given the amount of damage Bankman Freed caused to thousands of FTX customers, while others argued that the time in prison would be He hinted that it could be an effective deterrent against people.
Related: FTX co-CEO Salameh’s sentencing postponed to end of May
Bankman Fried’s motion will likely go to the Second Circuit Court of Appeals, where a panel of judges will decide whether to uphold the former FTX CEO’s conviction in federal court or overturn it. may decide whether to proceed and lay the groundwork for a possible new trial. . Mr. Shapiro’s motion does not indicate on what basis SBF will pursue the appeal.
Sentencing hearings for Bankman Fried’s colleagues at FTX and Alameda Research, including Ryan Salameh, Caroline Ellison, Gary Wang and Nishad Singh, are proceeding, with Salameh’s sentence set at 5. It is scheduled for the 28th of May. All four pleaded guilty and accepted deals before the SBF trial. .
magazine: ‘Less flashy’ Mashinski expected to receive shorter sentence than SBF: Inner City Press, X-Hole of Flame
