Sam Bankman-Fried (SBF), the figure at the center of the FTX scandal that led to billions in losses for millions of cryptocurrency investors, is back in the spotlight. Following the collapse of the cryptocurrency exchange FTX in November 2022, it was revealed that its executives had disregarded numerous regulations and even defrauded investors. Now, SBF claims that the true culprit is not himself but the judge who issued the sentencing.
Current Status of the FTX Case
SBF’s accomplices are set to face sentencing soon, with expectations of billions in restitution to victims by the end of the year. This situation is perceived as a potential upswing for cryptocurrency markets. However, SBF is now expressing that the sentence given to him is erroneous, filing complaints against the presiding judge.
Appeal and Allegations Against the Judge
According to a report by the NY Times, SBF’s lawyers have filed an appeal, accusing the judge of bias. In their ten-page appeal, they reference Judge Kaplan’s restrictions on evidence presentation and defense strategies for the FTX founder. Attorney Alexandra A.E. Shapiro stated, “Sam Bankman-Fried was never presumed innocent. The judge presiding over his trial assumed his guilt.”
While SBF’s lawyer might be motivated by a hefty defense fee, it’s crucial to note that SBF admitted to selling non-existent cryptocurrencies to clients during X Space broadcasts prior to his arrest in November.
Although appeals against federal convictions are challenging, SBF’s parents are determined to explore every possible avenue.
