Former crypto mogul Sam Bankman-Fried, co-founder of FTX cryptocurrency exchange, has filed an appeal against his conviction and 25-year prison sentence for orchestrating an $8 billion fraud scheme. His defense lawyer, Marc Mukasey, has lodged the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals, aiming to challenge the conviction and sentencing imposed by U.S. District Judge Lewis Kaplan. Bankman-Fried’s legal team seeks to convince the appellate court of significant errors allegedly depriving him of his legal rights during the trial.
Meanwhile, FTX’s co-founder and executive, Ryan Salame, is yet to be sentenced for his involvement in the fraud case. Salame’s guilty plea and sentencing hearing are scheduled for May 28th, potentially adding another layer of complexity to FTX’s history and addressing the concerns of victims in the bankruptcy case.
Bankman-Fried’s sentencing on March 28 marked a significant turn in his journey from a celebrated figure in the crypto community to a convicted fraudster. While the sentence was shorter than the prosecution’s recommendation, it underscores the seriousness of his crimes and their impact on FTX customers and investors.
If Bankman-Fried’s appeal is rejected, his legal team may consider appealing to the U.S. Supreme Court, citing alleged errors in trial proceedings and deprivation of legal rights.
