Judge Denies Sam Bankman-Fried’s Motion for New Trial
- A Manhattan federal judge rejected Sam Bankman-Fried’s motion for a new trial, citing baseless claims of new evidence.
- Bankman-Fried was sentenced to 25 years in prison for fraud and money laundering in early 2024.
- Judge Lewis Kaplan stated that the witnesses Bankman-Fried claimed could help his case were not newly discovered.
- Bankman-Fried argued that former executives could counter insolvency claims but failed to compel their testimony.
- He is currently incarcerated at a federal prison in Lompoc, California.
The court found that Bankman-Fried’s claims regarding the testimonies of former Alameda Research executives lacked merit and were contradicted by existing records. His initial request for a new trial was made without consulting his legal team while an appeal was pending.
Ultimately, Judge Kaplan emphasized that the absence of key witnesses did not warrant a new trial, reinforcing the integrity of the original proceedings against Bankman-Fried, who illegally transferred billions from FTX customers to fund risky trades. (Source)
