Former FTX CEO Sam Bankman-Fried Files Appeal

April 12, 2024 11:34 pm Comments

Former FTX CEO and founder Sam Bankman-Fried has filed an appeal for his recent conviction and 25-year sentence.

The disgraced crypto mogul believes that his sentence is too light, yet many in the crypto community do not believe that his sentence went far enough and demanded that he serve even more time behind bars.

Bankman-Fried’s parents have sought leniency for their son since the beginning of the scandal and subsequent legal proceedings.

It is also believed by some legal experts that Bankman-Fried may have his sentence reduced at some point in the future, though is merely speculation and commentary on the subject.

Fox Business reporter Eleanor Terrett presented the corresponding court documents and explained: “Sam Bankman-Fried’s lawyers have officially filed to appeal his 25-year prison sentence and also asked Judge Kaplan to let Sam remain in MDC prison in New York for the time being to prepare for a potential appeal.”

According to Daily Coin:

The fallen crypto mogul also pointed out the existence of new evidence and procedural flaws in the trial process, which, in his opinion, unfairly biased the case against him.

SBF further claimed that witnesses in the trial “greatly misstated what actually happened,” and alleged improper collaborations between his law firm, Sullivan & Cromwell, and federal prosecutors.

ICO Drops provided price data for FTT, FTX’s native token: “FTX founder Sam Bankman-Fried filed to appeal his conviction and sentence for fraud and conspiracy charges. The FTT price has increased by 11%.”

The Block added:

Judge Kaplan recommended Bankman-Fried to serve time in a medium- or low-security prison near the California Bay Area, citing that his “association with vast wealth” and social skills may make him a target for aggression by fellow inmates.

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