Sam Bankman-Fried: Appeal against Sentence
Date: 2024-04-12 Author: Henry Casey Categories: IN WORLD
The founder of the FTX crypto exchange, Sam Bankman-Fried, is appealing a court decision that found him guilty on seven counts and sentenced him to 25 years in prison.
Sam Bankman-Fried has filed an affidavit of appeal in the U.S. District Court for the Southern District of New York, seeking to appeal his conviction. This comes two weeks after he was found guilty on fraud and money laundering charges.
Verdict and Reaction
The SBF was sentenced to 25 years in prison and a fine of $11 billion. After the verdict was announced, he expressed remorse for the crimes committed, and his defense announced plans to appeal the court's decision.
It is not yet clear on what grounds the appeal will be filed. At trial, SBF's legal team was not allowed to call witnesses, which may affect the defense strategy.
Filing a notice of intent to appeal is only the first step in a long procedure. Even if the decision is positive, it may take several years for the case to be re-examined.
SBF's lawyers are pushing for their client to remain in his current detention facility, given his concerns about conditions and safety in other facilities.
