Sam Bankman-Fried Appeals Conviction: Sam Bankman-Fried, founder of #FTX. has filed for a new trial, claiming he was denied a fair hearing during his initial fraud conviction.
Claim of Media Focus by Prosecutors: His legal team argues that federal prosecutors were more focused on securing quick headlines rather than ensuring justice during his trial.
Conviction and Sentence: Bankman-Fried was convicted of fraud and money laundering related to the collapse of FTX, leading to a 25-year prison sentence.
FTX Collapse: FTX, once a major #cryptocurrencyexchange , collapsed in 2022, causing billions in customer losses. Prosecutors accused Bankman-Fried of diverting funds to cover financial shortfalls in his hedge fund, #AlamedaResearch .
Allegations of Unfair Narrative: #SamBankman-Fried legal team argues the narrative presented at trial was inaccurate and new evidence shows FTX was not insolvent, with sufficient assets to repay customers.
Sullivan & Cromwell (S&C) Involvement: The filing criticizes the role of the law firm Sullivan & Cromwell, accusing them of bias and over-involvement in prosecutorial work for financial gain.
Caroline Ellison’s Legal Situation: Caroline Ellison, former CEO of Alameda Research, is seeking leniency, with her legal team advocating for time served due to her cooperation with authorities.
