Former FTX CEO Sam Bankman-Fried claimed that there were injustices during the trial process and requested a new hearing.

Former FTX CEO Sam Bankman-Fried has requested a new hearing and appealed, citing injustices in the trial process.

Bankman-Fried's lawyer criticized the way District Judge Lewis Kaplan handled the case, stating that his client was prevented from presenting certain evidence.

In Bankman-Fried's appeal letter, which is 102 pages long, the following statements were made:

Sam was declared guilty before being accused. He was seen as guilty by the media, FTX creditors, and their lawyers. Federal prosecutors rushed to reach quick headlines, and the judge also declared him guilty from the start.

What had happened in the FTX case?

The appeal application has been submitted to the US Second Circuit Court of Appeals. Bankman-Fried was found guilty by a jury in November in New York of defrauding FTX customers, creditors, and investors.

Prosecutors stated that Bankman-Fried managed a plan described as the 'largest attempted fraud in the last decade,' and compared him to infamous fraudster Bernie Madoff. Bankman-Fried was sentenced to 25 years in prison.

Lawyer Alexandra Shapiro emphasized to the jury in her appeal that only a part of the case was shown, stating, “It was decided that it is not important whether Bankman-Fried intended to steal customers’ money.” Additionally, according to Shapiro, Bankman-Fried could have indicated that he relied on his lawyers’ advice in certain business decisions, but the court prevented him from testifying about it.

‘FTX never went bankrupt’

Shapiro reported that the court prevented the presentation of evidence that FTX and Alameda were financially solvent. During the trial, prosecutors claimed that both companies had gone bankrupt.

The defense attorney said, “These arguments overlap with statements implying that the damages to FTX creditors are caused by Bankman-Fried, whereas the real reason was the mismanagement of assets.”

Prosecutors also alleged that Bankman-Fried spent billions of dollars on luxury apartments and political donations, claiming that the money had disappeared. Shapiro countered this narrative, stating that the allegations were false, and said the following:

As is now well known, FTX customers and Alameda creditors will be repaid with assets that come to the bankruptcy estate.