Two weeks after Sam Bankman-Fried's prison sentence was handed out to him, he and his legal team are now pushing to appeal his case, centering on the federal fraud and conspiracy conviction earlier this year.
To date, Bankman-Fried still appeals his innocence amidst the facts of the case, centering on the earlier trial and the testimonies of his colleagues against him.
Before the conviction and sentencing, Bankman-Fried and his team had long appealed the trial verdict and maintained throughout the case that he had nothing to do with the misappropriation of customer and investor funds.
Sam Bankman-Fried Appeals 25-Year Prison Sentence, Fraud Conviction
(Photo: Alex Wong/Getty Images)
In Bankman-Fried's fraud conviction, he was ordered to pay $11 billion in forfeiture for his former actions against FTX and Alameda Research and was subsequently given 25 years to serve.
Judge Lewis Kaplan is known for trying Bankman-Fried's case and has previously regarded the convicted fraudster as at a massive risk in the future.
Additionally, he claimed that SBF did not show any remorse throughout the trial and after the verdict, conviction, and sentencing.
Bankman-Fried still maintains his innocence and is known for previously blaming other FTX executives and lawyers for what happened to the company and the customers' money.
Read Also: FTX CEO: SBF Did 'Vast' Harm to Customers, Lied About Funds, Solvency
What Will Happen to SBF's Appeal Case?
A three-judge panel of the 2nd Circuit U.S. Court of Appeals in Manhattan will hear Bankman-Fried's appeal case, but if it is rejected, he will still have another chance to petition the U.S. Supreme Court.
It also follows the pending sentencing for other FTX and Alameda executives who initially pled guilty and cooperated with the U.S. government to testify against SBF.
Sam Bankman-Fried and FTX
November 2022 marked the end of the beginning for Sam Bankman-Fried, and this was the day FTX filed for bankruptcy, with the CEO stepping down from his position.
However, when he stepped away, FTX quickly pointed the finger at Bankman-Fried about the missing funds, with the founder claiming that he had nothing to do with it.
This led to him fleeing to his Bahamas residence, being arrested and extradited to the US, and seeing pre-trial where he pled not guilty.
Later, his case trial commenced, and the jury found him guilty, with his former peers testifying on his fraudulent actions.
Despite all of these, Bankman-Fried maintained his innocence and fought it until the present, initially asking for only five years of prison time.
After his conviction and sentence, Bankman-Fried is back at it again to fight against these charges against his name, with the appeal set to be heard by the 2nd District US Court of Appeals in Manhattan soon.
Related Article: Sam Bankman-Fried Sentenced to 25 Years in FTX Fraud Conviction
