CandleFocus Does SBF’s Appeal Stand a Chance of Succeeding?
2024-09-19
Author: Content Editor
Sam Bankman-Fried, the founder of FTX, has filed an appeal to the Second Circuit Court of Appeals in an attempt to receive another hearing for his case. Bankman-Fried was convicted last year on seven counts of fraud and conspiracy related to the collapse of FTX and was sentenced to 25 years in prison. His new legal team argues that he was treated unfairly during the trial and that evidence favorable to him was not presented to the jury. Bankman-Fried has long maintained that FTX was never insolvent and that the company's assets were worth billions. While some lawyers are skeptical that he will win a retrial, the appeal may have been strategically timed to coincide with the sentencing of Caroline Ellison, Bankman-Fried's former colleague.
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