Overview
- A three-judge panel in Manhattan heard Sam Bankman-Fried’s appeal and took the case under advisement with no ruling, a process that could take weeks or months.
- Defense lawyer Alexandra Shapiro argued the trial was unfair because the court limited evidence on FTX’s solvency and lawyer involvement, and the team accused Judge Lewis Kaplan of bias.
- Judges pressed how post-bankruptcy recoveries relate to intent at the time of the alleged crimes and noted that fraud charges can turn on liquidity and access to funds, not long-term solvency.
- Prosecutors said the record showed roughly $8 billion in customer funds were diverted to Alameda Research, underscored by cooperating-witness testimony and customers’ inability to withdraw in 2022.
- Separately from the court fight, reports indicate Bankman-Fried’s family has explored seeking a presidential pardon, though observers view the prospects as uncertain.