Prosecutors Slam SBF's New Trial Bid as 'Misleading'

Prosecutors have urged a US court to reject Sam Bankman-Fried's request for a new trial, citing that his claims about FTX's collapse and his conviction are unsupported and misleading.

In a filing submitted in federal court in Manhattan, government attorneys argued that Bankman-Fried's self-written motion fails to meet the legal standards required to overturn his conviction. They also rejected his claim that FTX remained solvent at the time of its collapse, saying accounting approaches had already been rejected by experts, restructuring professionals and the jury during the trial proceedings.

Bankman-Fried has argued that he was intimidated into silence by prosecutors, which would have prevented witnesses from providing testimony supporting his defense. Prosecutors disputed this claim, stating that these individuals were already known to Bankman-Fried's legal team before the trial and their evidence would not have altered the jury's verdict.

Prosecutors also dismissed Bankman-Fried's claim of political retaliation linked to his criticism of government policy toward the cryptocurrency industry. They stated that his prosecution was based on evidence presented during the 2023 trial, which included testimony from former executives about Bankman-Fried directing customer funds to Alameda Research for venture investments and other purposes.

Bankman-Fried is currently serving a 25-year prison sentence after being found guilty of defrauding customers of FTX. His ongoing appeal before the US Court of Appeals for the Second Circuit will likely continue regardless of this latest development.