The former executive of the bankrupt crypto exchange, who is currently serving a prison sentence, wants another chance to defend himself against fraud charges.
Sam Bankman-Fried (SBF), the former CEO of the now-defunct cryptocurrency exchange FTX, is seeking a new trial, according to a filing submitted by his mother in New York federal court.
Since his conviction and 25-year prison sentence, SBF has repeatedly appealed his status in court. The latest request for a retrial, first reported by Inner City Press on Tuesday, was filed by his mother, Barbara Fried, arguing that there is new evidence in the case sufficient to justify a retrial. The filing also mentions the initial lack of testimony from several figures, including Ryan Salame of FTX, who has pursued his own legal battle.
Salame, the former FTX leader, was also convicted on federal charges, but he claimed he had reached a plea deal with prosecutors that would protect his wife, Michelle Bond, from legal prosecution. However, she was later prosecuted on charges of receiving illegal campaign contributions during her congressional election campaign.
The 35-page document from SBF was submitted to the court as a "pro se" application, meaning the defendant represented himself.
SBF's earlier efforts to argue that he was not treated fairly in the original trial — culminating in November — were met with skepticism from the appellate judges. In his appeal for a retrial, SBF's team focused on FTX's subsequent solvency, and on social media platform X, he continued to argue that the company was not insolvent at the time of its collapse. However, the judges in November found that solvency did not appear to be the core issue.
“Part of the government’s argument was that the defendant misrepresented to investors that their money was safe and not being used in the way the government alleged — and the jury concluded that in fact it was being used in that way,” Judge Maria Araújo Kahn said, alluding to the misappropriation of client funds — the central theme of the SBF’s verdict.
Closing another potential path to freedom, President Donald Trump recently stated he would not XEM pardoning SBF. However, the former FTX CEO continues to campaign for himself on X, claiming he is a victim of the “legal machine” under former President JOE Biden.
