NEW YORK (AP) — Lawyers for Sam Bankman-Fried claim in an appeal filed Friday that the imprisoned FTX founder was the victim of a rush to judgment by a...
claim in an appeal filed Friday that the imprisoned FTX founder was the victim of a rush to judgment by a public that wrongly believed he was guilty of stealing billions of dollars from his customers and investors before he was even arrested.
“Now, nearly two years later, a very different picture is emerging — one confirming FTX was never insolvent, and in fact had assets worth billions to repay its customers. But the jury at Bankman-Fried’s trial never got to see that picture,” they added.into bankruptcy as investors rushed to withdraw funds. A jury concluded that some of their money had been improperly spent on real estate, investments, celebrity endorsements, political contributions and lavish lifestyles.
He initially remained under strict bail conditions at his parents' home in Palo Alto, California, but Judge Lewis A. Kaplan in Manhattan revoked his bail shortly before the trial after concluding that Bankman-Fried was trying to influence likely witnesses, including an ex-girlfriend who had served as chief executive at Alameda Research, a crypto hedge fund.after he was sentenced in March in what a prosecutor once described as one of the biggest financial frauds in U.S. history.The U.S.
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