US President Donald Trump reportedly shut the door on a pardon for Sam Bankman-Fried back in January. That left the convicted FTX founder, a.k.a. SBF, with two paths out of a 25-year prison sentence — an appeal already working its way through federal court, and a motion for a new trial filed last month. Federal prosecutors just moved to close the second one.
Witnesses Were No Secret, Government SaysAt the center of the fight is testimony from two former FTX executives — Ryan Salame and Daniel Chapsky — whom the defense says could have weakened the government’s case against Bankman-Fried at trial.
Prosecutors aren’t buying it. Both men were known to the defense long before the 2023 trial began, according to court documents cited by Bloomberg.
Bloomberg: US Prosecutors Argue SBF’s Retrial Bid Should Be Denied
According to Bloomberg, US prosecutors have argued that FTX co-founder Sam Bankman-Fried’s (SBF) request for a retrial should be rejected, as he has failed to demonstrate any unfairness in his conviction. In…
Judge Lewis Kaplan had ordered prosecutors to respond to the motion by March 11. They did — and their answer was a flat no.
A jury found SBF guilty in November 2023 on seven counts of fraud and conspiracy. The charges stemmed from the misuse of customer funds at FTX and its affiliated trading firm, Alameda Research.
The implosion of FTX wiped out billions of dollars belonging to customers around the world and sent shockwaves through the crypto industry.
While Bankman-Fried pursues legal relief through the courts, his public comments have drawn scrutiny of a different kind.
Court Keeps SBF Options NarrowSeveral of Bankman-Fried’s closest associates took plea deals and testified against him. Their accounts painted a picture of a company where customer money was quietly funneled to Alameda and used for investments, loans, and political donations — all without depositors’ knowledge.
The judge sentenced Bankman-Fried to 25 years behind bars following his conviction.
Featured image from Getty Images, chart from TradingView
