FTX News: Sam Bankman-Fried's Appeals Court Hearing Saw Skeptical Judges

This week, the Second Circuit Court of Appeals held a hearing on Sam Bankman-Fried's appeal of his criminal conviction. The judges expressed significant skepticism toward his attorney's arguments that he deserved a new trial due to alleged bias from the trial judge, Lewis Kaplan. Bankman-Fried's defense contended that he was prohibited from fully presenting his case, particularly regarding the role of lawyers in his defense. Assistant U.S. Attorney Thane Rehn countered that the government’s focus was on the misconduct leading to FTX's bankruptcy, arguing that the trial was fair. Judge Eunice Lee challenged the justification of a proposed forfeiture amount of $11 billion, questioning how it reflects harm to victims if they are expected to recover their losses through bankruptcy. While the judges did not indicate their ruling on the appeal, the panel's questioning suggests a tough road ahead for Bankman-Fried.

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