Judge Denies Sam Bankman-Fried's Motion for New Trial in FTX Fraud Case
Manhattan federal Judge Lewis Kaplan denied Sam Bankman-Fried's motion for a new trial, rejecting his claim of new evidence from three former FTX executives. Bankman-Fried, sentenced to 25 years in prison in early 2024, argued that Ryan Salame, Daniel Chapsky, and Nishad Singh could counter government claims about FTX's insolvency. Kaplan called the motion baseless and part of a plan to rescue his reputation hatched before indictment. Bankman-Fried was convicted on seven fraud and money laundering charges for illegally transferring billions in customer funds to Alameda Research.