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

During a recent hearing at the Second Circuit Court of Appeals, the judges expressed skepticism towards Sam Bankman-Fried's attempts to secure a new trial following his criminal conviction. Bankman-Fried's attorney, Alexandra Shapiro, argued that the trial judge, Lewis Kaplan, exhibited bias and did not allow key arguments about legal counsel and creditor recovery to be presented. The hearing highlighted the uphill battle for Bankman-Fried, especially as this could be his final chance for an early release. The panel, consisting of Judges Eunice Lee, Maria Araújo Kahn, and Barrington Parker, questioned whether Bankman-Fried was unfairly treated during the trial process. Prosecutors maintained that the defense's claims of bias were unfounded and emphasized the severity of misappropriated funds during FTX’s crisis. The judges focused significantly on the matter of forfeiture amounts, with inquiries about justifying the $11 billion figure given the potential for creditor recovery. The court’s ruling on the appeal is still pending, with no clear indication of direction from the judges.

Source 🔗