Bankman-Fried’s lawyer wrote that U.S. District Judge Lewis Kaplan erred in preventing the 32-year-old former billionaire from introducing evidence to back up his belief that FTX had enough funds to cover customer withdrawals
The jury that convicted Sam Bankman-Fried of stealing billions of dollars from customers of his FTX cryptocurrency exchange only saw “half the picture” because the judge did not allow in critical evidence, his lawyer argued in their appeal on Friday.
“The government thus presented a false narrative that FTX’s customers, lenders, and investors had permanently lost their money,” lawyer Alexandra Shapiro wrote in urging the appeals court to overturn Bankman-Fried’s conviction and 25-year prison sentence. “The jury was only allowed to see half the picture.”
Criminal defendants face a high bar in getting their convictions overturned, as they must show that trial judges made errors that were significant enough to have affected the verdict. FTX has said its customers will receive 100% recovery on their claims against the company, based on the value of their accounts at the time it filed for bankruptcy. Cryptocurrency prices were lower then than they are now, leaving some customers feeling shortchanged.
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