What’s at Stake for Sam Bankman-Fried’s Long-awaited Appeal?

With 19 years remaining for Sam “SBF” Bankman-Fried in jail, the previous FTX CEO’s authorized workforce will current arguments within the appellate court docket as to why a panel of judges ought to think about overturning his conviction or sentence.

On Tuesday, the US Court docket of Appeals for the Second Circuit will hear oral arguments from SBF’s attorneys. Although the small print of the enchantment have been unclear on the time of publication, the previous FTX CEO’s authorized workforce mentioned in its preliminary appeals submitting from September 2024 that it meant to argue SBF was “by no means presumed harmless,” claiming that it was not allowed to current info to the court docket concerning the crypto change’s solvency.

“From day one, the prevailing narrative—initially spun by the attorneys who took over FTX, shortly adopted by their contacts on the US Legal professional’s Workplace— was that Bankman-Fried had stolen billions of {dollars} of buyer funds, pushed FTX to insolvency, and induced billions in losses,” mentioned the September 2024 enchantment. “Now, practically two years later, a really completely different image is rising—one confirming FTX was by no means bancrupt, and actually had property price billions to repay its clients. However the jury at Bankman-Fried’s trial by no means obtained to see that image.”

Following the collapse of FTX in November 2022, US authorities extradited SBF from the Bahamas to face fees, together with cash laundering and fraud. A jury convicted the previous CEO on seven felony counts in November 2023, and a decide sentenced him to 25 years in jail in March 2024.

Associated: FTX drops ‘restricted nations’ movement however warns it could refile

The case involving the high-profile cryptocurrency govt drew consideration from many within the trade, in addition to lawmakers, since SBF had contributed hundreds of thousands of {dollars} to politicians via his corporations. The appeals court docket will resolve whether or not to grant Bankman-Fried a brand new trial or affirm his conviction in New York.

Additionally angling for a presidential pardon?

Following his conviction and sentencing listening to, SBF appeared to marketing campaign to extra align himself with Republicans and right-leaning politicians, in an try to attract optimistic consideration from US President Donald Trump.