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A federal judge on Tuesday, April 28, denied a self-written motion by Sam Bankman-Fried, who is serving a 25-year prison sentence for his role in the multi-billion-dollar collapse of the FTX crypto exchange in 2022.
Bankman-Fried, 34, argued that new witnesses would justify a new trial. Judge Lewis Kaplan, who presided over the original case, said the claim was baseless.
Kaplan said none of the witnesses were “newly discovered,” adding that Bankman-Fried had known about them well before trial and had also known what he hoped they would say if they testified. The judge noted that Bankman-Fried could have obtained or sought to compel their testimony but did not.
The judge also rejected Bankman-Fried’s assertion that three former FTX executives were prevented from testifying on his behalf due to government threats and retaliation, calling it “wildly conspiratorial” and “entirely contradicted by the record.”
Bankman-Fried is also appealing his conviction and sentence through his lawyer, but the April 28 motion was filed by him personally, according to Bloomberg News.
Bloomberg reported that the judge appeared annoyed by the strategy. Kaplan said the motion seemed to be “part of a plan to rescue his reputation that Bankman-Fried hatched and even committed to writing after FTX declared bankruptcy but before he was indicted.”
Gizmodo described the “plan” as an apparent reference to evidence released by prosecutors in 2024. The document was written by Bankman-Fried before his indictment and included what he characterized as “probably bad ideas,” including appearing on Tucker Carlson’s TV show to establish himself as a Republican.
Bankman-Fried was later interviewed by Carlson, but only after he was sentenced to prison.
Bankman-Fried was convicted on seven criminal counts, including fraud and conspiracy. Jurors found that he illegally shifted billions from FTX customers to Alameda Research, the company’s sister hedge fund. Risky investments at Alameda contributed to FTX’s downfall, which roiled the cryptocurrency sector.
During the trial, jurors heard from several former FTX executives who testified that Bankman-Fried directed them to commit fraud. One of them was Caroline Ellison, the former head of Alameda and sometimes-romantic partner of Bankman-Fried. Ellison was sentenced to two years in prison for her role in the fraud and was later granted early release.
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