"Everybody was out to get Sam Bankman-Fried after the collapse of his cryptocurrency exchange in 2022. At least that's what his lawyers will tell an appeals court Tuesday as the FTX co-founder seeks to reverse his fraud conviction and 25-year prison sentence. Bankman-Fried's lawyers claim he was wrongly convicted in a rush to judgment by the press, prosecutors, the team that took over FTX in the wake of its stunning implosion, and, critically, US District Judge Lewis Kaplan."
"The government claimed Bankman-Fried siphoned billions of dollars from FTX customers to the exchange's sister hedge fund, Alameda Research, using the money for speculative investments, political donations and expensive real estate. Jurors found him guilty in less than five hours of deliberations, despite watching him take the stand in his own defense and testify that he never intended to defraud anyone."
"Now, the three-judge panel is set to hear arguments from Alexandra Shapiro, a top criminal appeals lawyer who has won reversals this year for three executives convicted of white-collar crimes. She notched her most recent win on behalf of Iconix Brand Group founder Neil Cole, who was cleared by the 2nd Circuit last week after his conviction on charges he inflated the apparel licenser's earnings and misled investors."
Sam Bankman-Fried seeks to overturn a 2023 fraud conviction and 25-year prison sentence after the 2022 collapse of his cryptocurrency exchange. Lawyers argue that press coverage, prosecutors, the team that assumed control of FTX, and US District Judge Lewis Kaplan rushed to judgment and presumed guilt before charges were filed. Prosecutors alleged SBF diverted billions from customers to Alameda Research for speculative investments, political donations and real estate. A Manhattan jury convicted him on seven counts after under five hours of deliberation despite his testimony denying intent to defraud. Appeals will be argued before a three-judge 2nd Circuit panel by Alexandra Shapiro.
Read at www.mercurynews.com
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