Sam Bankman-Fried, the former CEO of collapsed crypto exchange FTX, is seeking a new trial, according to a motion filed in New York federal court by his mother.
Since he was convicted and imprisoned on a sentence of 25 years, SBF has constantly challenged his position in court. The latest motion for a new trial, first reported Tuesday by the Inner City Press, was filed by his mother, Barbara Fried, arguing that new evidence in the case would justify a reset. The filing noted the initial absence of testimony from individuals including FTX’s Ryan Salame, who was fighting his own, separate legal battle.
The former FTX executive, Salame, was also convicted on federal charges but had claimed he made a deal to cooperate with prosecutors that should have protected his wife, Michelle Bond, from legal prosecution. She was later indicted for allegedly taking illegal campaign contributions in her congressional bid.
The SBF’s 35-page document arrived in court as a pro se request, meaning the defendant is representing himself.
Previous efforts by the SBF to argue that he did not get a fair initial trial – which came to a head in November – were met with some skepticism by the appeals judges. SBF’s defense in seeking a reinstatement case through appeal focused attention on FTX’s later solvency, and his social media account X continues to argue that the company was not bankrupt when it collapsed. However, judges argued in November that solvency did not appear to be the primary issue.
“Part of the government’s theory of the case is that the defendant misrepresented to investors that their money was safe, was not used in the way the government required, and the jury ruled that it was actually used,” said Circuit Judge Maria Araújo Kahn, referring to the misappropriation of client money at the heart of his conviction.
Closing another potential path to freedom, President Donald Trump recently said he would not consider clemency for SBF. However, the former FTX CEO is still campaigning for himself through his account on X, claiming he is a victim of former President Joe Biden’s “law enforcement machine.”
