Sam Bankman-Fried Appeals 25-Year Sentence, Citing Bias and Judicial Misconduct

• Bankman-Fried appeals 25-year sentence, alleging bias and unfair trial process.
• Defense cites judicial misconduct and limits on key evidence during trial.
• Appeal seeks new trial, challenges $11B restitution, and questions jury influence.

Sam Bankman-Fried, co-founder of the collapsed cryptocurrency exchange FTX, has appealed his 25-year prison sentence, claiming he was denied a fair trial following the exchange’s 2022 collapse. His legal team informed the U.S. Court of Appeals for the Second Circuit in New York that extensive media coverage, prosecutorial overreach, and bias from Judge Lewis Kaplan contributed to a conviction that disregarded the presumption of innocence.

Bankman-Fried’s lawyers, as reported by Bloomberg, argued that Judge Kaplan “repeatedly put a thumb on the scale” in favor of the prosecution throughout the 2023 trial. The appeal brief alleges that Kaplan ridiculed the defendant’s testimony, criticized his demeanor, and pressured jurors into a rushed verdict by suggesting they could debate late into the evening with dinner and transportation provided. The defense claims that such actions influenced the jury to reach a guilty verdict in under five hours.

The appeal also challenges Kaplan’s decisions to restrict testimony about FTX’s remaining assets and to prevent Bankman-Fried from presenting evidence that he relied on legal advice from company counsel. His team argues that these limitations deprived jurors of key context regarding his intentions and understanding of FTX’s financial situation.

Focus on Legal Representation and Witness Testimony

Bankman-Fried’s case is now led by Alexandra Shapiro, a high-profile criminal appeals attorney who has secured reversals for several white-collar defendants this year, including former Iconix Brand Group CEO Neil Cole. Shapiro is also handling appeals for Bill Hwang of Archegos Capital and Charlie Javice, previously convicted of defrauding JPMorgan Chase.

The prosecution’s case relied heavily on testimony from three former FTX executives, Gary Wang, Nishad Singh, and Caroline Elliso, all of whom pleaded guilty and cooperated with authorities. Ellison, who served as CEO of Alameda Research, testified that she and Bankman-Fried created “alternative balance sheets” to obscure FTX’s multibillion-dollar shortfall.

Appeal Scope and Sentence Details

In addition to seeking a new trial before a different judge, Bankman-Fried’s appeal challenges the $11 billion restitution order imposed by the court. The defense maintains that he did not intend to defraud customers and believed they would be repaid once assets were recovered.

Bankman-Fried, currently incarcerated in California, was not present at Tuesday’s hearing. His parents have separately explored the possibility of a presidential pardon, according to individuals familiar with the matter.