Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
The imprisoned ex-head of the defunct crypto exchange is seeking a fresh opportunity to contest fraud allegations.
Sam Bankman-Fried is pursuing another trial. (Jesse Hamilton/CoinDesk)
Related Posts
What to know:
- Sam Bankman-Fried’s mother has submitted the ex-CEO’s recent application to exonerate him in court, with the former head of the global crypto platform FTX aiming for an additional U.S. trial.
- He is currently acting as his own attorney, as indicated by the 35-page “pro se” submission.
- SBF must establish that he possesses significant new evidence to justify a new trial.
Sam Bankman-Fried, the previous CEO of the defunct crypto exchange FTX, is requesting a new trial, following a motion submitted in a New York federal court by his mother.
STORY CONTINUES BELOWDon’t miss another story.Subscribe to the State of Crypto Newsletter today. See all newslettersSign me up
Since his conviction and subsequent 25-year sentence, SBF has persistently contested his circumstances in court. The latest request for a new trial, initially reported by Inner City Press on Tuesday, was submitted by his mother, Barbara Fried, asserting that new evidence in the case would warrant a reset. The filing highlighted the initial lack of testimony from individuals, including FTX’s Ryan Salame, who is facing his own separate legal issues.
The former FTX executive, Salame, was also found guilty of federal charges but had alleged he reached an agreement to cooperate with prosecutors that should have shielded his wife, Michelle Bond, from legal action. She was subsequently charged with reportedly receiving illegal campaign contributions for her congressional campaign.
SBF’s 35-page document was presented to the court as a pro se motion, indicating that the defendant is self-representing.
Previous attempts by SBF to argue that he did not receive a fair initial trial—which culminated in November—were met with skepticism from appellate judges. SBF’s defense in pursuing a retrial through appeal emphasized the later solvency of FTX, and his account on the social media platform X continues to assert that the company was not bankrupt at the time of its collapse. However, judges remarked in November that solvency did not appear to be the central issue.
“Part of the government’s theory of the case is that the defendant misrepresented to investors that their money was secure and was not being utilized in the manner the government claims, and the jury convicted based on its belief that it was indeed misappropriated,” stated Circuit Judge Maria Araújo Kahn, referencing the misappropriation of customer funds that is central to his conviction.
Further complicating his pursuit of freedom, President Donald Trump recently stated he would not entertain clemency for SBF. Nevertheless, the former FTX CEO continues to advocate for himself through his account on X, claiming he is a victim of former President Joe Biden’s “lawfare machine.”
