Prosecutors Slam SBF's New Trial Bid: Solvency Claims 'Unsupported'
Sam Bankman-Fried's bid for a new trial has been rejected by federal prosecutors in a Manhattan court. The FTX founder, currently serving a 25-year prison sentence for defrauding customers of his collapsed crypto exchange, filed the motion last month without legal representation.
In their response to the filing, government attorneys argued that Bankman-Fried's claims about the solvency of FTX at the time of its collapse and allegations of witness intimidation are unsupported and misleading.
The prosecutors also dismissed Bankman-Fried's claim that his prosecution was motivated by political retaliation linked to his criticism of government policy toward the cryptocurrency industry. They said this is part of a broader effort by the former executive to reshape public perception of the case.