The post Sam Bankman-Fried Appeals Fraud Conviction Amidst Claims of Unfair Trial Linked to FTX Collapse appeared on BitcoinEthereumNews.com.

Sam Bankman-Fried, the co-founder and former CEO of FTX, has filed an appeal to overturn his conviction for fraud, according to court documents released on Friday. The appeal asserts that Bankman-Fried did not receive a fair trial and argues for a new trial under a different judge. “He was presumed guilty—before he was even charged,” his legal team stated, elaborating on how various parties had prejudged his case. Sam Bankman-Fried appeals his fraud conviction, asserting he was unfairly judged. Learn about the latest developments in this high-profile crypto case. Sam Bankman-Fried Files for Appeal to Overturn Fraud Conviction In a significant development, Sam Bankman-Fried, the co-founder and ex-CEO of the now-defunct crypto exchange FTX, has made an official appeal to reverse his fraud conviction. The court documents submitted by his legal team on Friday argue that he did not receive a fair trial. They contend that the trial was marred by biases from multiple sides, including federal prosecutors, the media, and even the judge presiding over the case. Claims of Presumption of Guilt The appeal filed by Bankman-Fried’s attorneys elaborates on the various instances that they believe prejudiced the trial. “He was presumed guilty—before he was even charged,” the lawyers claim. They argue that the media, federal prosecutors, and the FTX debtor estate had all prejudged Bankman-Fried, potentially influencing the outcome of the trial. The appeal suggests that the cumulative effect of these biases prevented a fair and impartial hearing, which is a cornerstone of the judicial process. The Downfall of FTX and Its Impact FTX, once a leading cryptocurrency exchange, dramatically collapsed in November 2022 following a liquidity crisis. The initial financial crunch quickly gave way to revelations of significant fraud and operational mismanagement. Cash deposited by customers was allegedly diverted by Bankman-Fried and his associates to fund risky…

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Filed under: News - @ September 13, 2024 10:26 pm