International Courant
Bankman-Fried faces lengthy odds in an try and overturn his conviction stemming from the collapse of his cryptocurrency trade.
FTX founder Sam Bankman-Fried has appealed his conviction and 25-year jail sentence for stealing billions of {dollars} from prospects of his defunct cryptocurrency trade.
Bankman-Fried was convicted in November of seven counts of fraud and conspiracy in what US authorities described as one of many largest monetary frauds in US historical past.
The 32-year-old former billionaire was the poster little one for cryptocurrency, gracing journal covers and having fun with audiences with lawmakers earlier than FTX’s collapse by speculators in 2022 amid a flood of buyer withdrawals.
Bankman-Fried’s legal professional, Marc Mukasey, had introduced throughout his sentencing listening to on March 28 that he deliberate to enchantment the decision and sentence.
Throughout his sentencing, Bankman-Fried expressed remorse over his dealings with FTX, saying he “regretted what occurred at each stage.”
“It haunts me on daily basis,” he mentioned. “I made a sequence of dangerous choices.”
US District Courtroom Decide Lewis Kaplan mentioned Bankman-Fried had not proven real regret or absolutely accepted accountability and that there was a “danger that this man may do one thing very dangerous sooner or later”.
Prosecutors had sought a jail sentence of 40 to 50 years, whereas Bankman-Fried’s legal professionals had requested the choose to impose a six-year sentence.
Bankman-Fried’s enchantment may take years and would require convincing a better courtroom that Kaplan made important errors in the course of the trial that violated his authorized rights.
U.S. federal courts hardly ever aspect with felony defendants looking for to overturn decrease courtroom rulings, granting fewer than 10 % of appeals.
FTX’s Sam Bankman-Fried appeals conviction and 25-year jail sentence for fraud | Crypto information
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