Bloomberg reported Thursday that US prosecutors urged a federal decide to reject Sam Bankman-Fried’s request for a brand new prison trial, arguing that the previous FTX chief failed to fulfill the authorized normal for a retrial.
Based on the report citing court docket paperwork, prosecutors stated Bankman-Fried’s declare that new witnesses might undermine the federal government’s case doesn’t meet the authorized normal required to grant a retrial.
Prosecutors reportedly argued that testimony cited by Bankman-Fried from former FTX executives Ryan Salame and Daniel Chapsky didn’t quantity to newly found proof as a result of each males have been identified to the protection earlier than the 2023 trial.
The prosecutors’ response marks the most recent procedural step in Bankman-Fried’s effort to overturn his conviction tied to the collapse of FTX, the crypto change whose failure triggered one of many business’s greatest scandals.
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Courtroom has but to rule on retrial request
Bankman-Fried filed the movement for a brand new trial in February, arguing that testimony from former executives might problem the prosecution’s account of FTX’s monetary situation earlier than its collapse.
The protection argued that testimony from Salame and Chapsky might weaken the federal government’s narrative introduced to jurors throughout the trial. Choose Kaplan later ordered prosecutors to answer the movement by March 11.
The decide has not but dominated on whether or not the movement will proceed. Bankman-Fried individually continues to attraction his conviction within the US Courtroom of Appeals for the Second Circuit.
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A jury convicted Bankman-Fried in November 2023 on seven counts of fraud and conspiracy associated to the misuse of buyer funds at FTX and its sister buying and selling agency, Alameda Analysis. He was later sentenced to 25 years in jail.
Pardon hypothesis runs alongside court docket challenges
Bankman-Fried’s court docket efforts have unfolded alongside public hypothesis that he could also be looking for a presidential pardon.
On Feb. 1, the previous FTX CEO praised US President Donald Trump’s crypto stance in social media posts, including to scrutiny over whether or not he was attempting to construct political help whereas pursuing authorized aid.
That hypothesis has up to now gone nowhere publicly. On Jan. 9, Trump reportedly advised The New York Occasions he had no intention of pardoning Bankman-Fried, leaving an attraction and retrial movement as his foremost avenues for overturning his conviction.
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