Overview
- Oral arguments are being presented today before a three-judge panel of the Second Circuit, with no ruling expected immediately.
- The defense, led by Alexandra Shapiro, says a jury-out 'dry run' of Sam Bankman-Fried’s testimony unfairly advantaged prosecutors and that Judge Lewis Kaplan wrongly barred evidence on FTX’s solvency.
- Prosecutors, represented by Nathan Rehn, say the verdict is supported by overwhelming evidence, including internal FTX records and testimony from cooperators Caroline Ellison, Gary Wang, and Nishad Singh.
- Bankman-Fried, convicted in 2023 and serving a 25-year sentence, seeks a retrial and has challenged the court’s handling of jury instructions and access to bankruptcy-related discovery.
- Context to the case includes significant FTX bankruptcy recoveries boosted by rising crypto prices and separate, reported efforts by supporters exploring the possibility of a presidential pardon.