Key Takeaways:
- There was a rejection of the request for a retrial filed by Sam Bankman-Fried by a federal judge who ruled there were no valid claims of “new evidence” and testimony from the witnesses
- The court ruled the supposed witnesses were not newly discovered and that some claims were speculative and baseless
- This is another blow to the ongoing appeals case of Bankman Fried and will strengthen the guilty verdict regarding the fraud case involving FTX
The attempt by Sam Bankman-Fried to reargue one of the largest criminal cases in crypto was met with a bang after the U.S. federal judge denied a retrial. The decision becomes a significant blow to the ex-FTX boss because he still is appealing his conviction.
Read More: Sam Bankman-Fried Drops New Trial Bid as FTX Fallout Deepens
Judge Rejects SBF Push to Reopen FTX Fraud Case
In a terse order, Judge Lewis Kaplan denied the motion, rejecting arguments that newly discovered witnesses or evidence warranted a retrial. Bankman-Fried had then suggested that former insiders would be able to testify to undermine aspects of the prosecution case, especially those related to the insolvency and loss of customers of FTX.
The court disagreed. Kaplan explained that the witnesses mentioned by Bankman-Fried were known prior to trial, thus did not qualify under the legal standard of “newly discovered” evidence. The order also observed that Bankman-Fried had the right to request or coerce them to give their testimony at the earliest bracket of proceedings but failed to do so.
The rationale right bisected the motion. The court also denied the request by Bankman-Fried that the case be handled by another judge based on the rationale that the request to recuse was way after the time and was also not reasonable.
Read More: FTX Unlocks $2.2B Payout Shocker as Creditors Near 120% Recovery Milestone
Court Pushes Back on “Reputation Rescue” Narrative
One of the most striking parts of the order focused on what the judge described as a broader effort by Bankman-Fried to rebuild his image after FTX collapsed.
Kaplan cited media appearances, social posts, and messaging to the masses which he claimed was part of a long-term agenda to recast the case narrative. The judge proposed that the request to retrial fell in that pattern and not offer any real legal pleas.
Witness Claims Face Sharp Scrutiny
The judge deemed such claims to be feeble based on various reasons such as credibility issue and the fact that there was no sworn evidence that was reliable to substantiate what those witnesses allegedly would have said. The order also denounced the claims of government pressure on witnesses; these claims were refuted by the record.
This decision could be taken away as one of the possible means of relief, since the 25-year sentence along with his conviction is also being appealed by Bankman-Fried, who is also seeking to have any other option.
