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 staff will current arguments within the appellate courtroom 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 legal professionals. Although the small print of the enchantment have been unclear on the time of publication, the previous FTX CEO’s authorized staff said in its initial appeals filing from September 2024 that it supposed to argue SBF was “by no means presumed harmless,” claiming that it was not allowed to current data to the courtroom relating to the crypto trade’s solvency.

“From day one, the prevailing narrative—initially spun by the legal professionals who took over FTX, shortly adopted by their contacts on the US Lawyer’s Workplace— was that Bankman-Fried had stolen billions of {dollars} of buyer funds, pushed FTX to insolvency, and triggered billions in losses,” stated the September 2024 enchantment. “Now, almost two years later, a really totally different image is rising—one confirming FTX was by no means bancrupt, and in reality had belongings price billions to repay its prospects. However the jury at Bankman-Fried’s trial by no means acquired to see that image.”

Following the collapse of FTX in November 2022, US authorities extradited SBF from the Bahamas to face expenses, together with cash laundering and fraud. A jury convicted the former 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 countries’ motion but warns it may refile

The case involving the high-profile cryptocurrency govt drew consideration from many within the business, in addition to lawmakers, since SBF had contributed hundreds of thousands of {dollars} to politicians by his firms. The appeals courtroom will determine 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.