Former FTX CEO Sam “SBF” Bankman-Fried will take the next step in his appeal process at a scheduled November hearing, serving a 25-year sentence following a conviction for seven felony counts.
The bank fuel appeal case was calendared for discussion on November 4th, according to a notice Wednesday in the U.S. Second Circuit Court of Appeals. The court proceedings mark the first significant move in the former CEO’s criminal case since the relocation from the New York City facility to one of California in March.
https://www.youtube.com/watch?v=_vwulhcmk1e
The hearing in the Second Circuit was expected to be a hearing in the Second Circuit since filed a notice of appeal in April 2023 over the 2023 conviction and 25-year sentence. Bankman-Fried’s legal team in his appeal filed in September 2024 claimed that the former CEO “is never presumed innocent,” and that the prosecutors presented the “false story” of the FTX user fund forever.
The Bankman-Fried case included some of the most important criminal charges against the famous cryptocurrency figures of the time. If the appeal court reverses the lower court’s decision, it could mean a new trial or hearing of the SBF.
Related: FTX is seeking time to respond when creditors fight freezes on a $470 million foreign claim
FTX, which has many Bahamas-based employees, experienced serious liquidity issues in November 2022 and filed for bankruptcy. Several of the C-Sweet executives of the exchange were criminally charged after the collapse, but Bankmanfried stuck to the innocence plea that led to New York, where many people around the world were monitored.
After extradition from the Bahamas, he was initially permitted to stay in his parents’ California home, but the judge revoked SBF’s bail in August 2023 after hearing evidence suggesting he had tried to blackmail the witness in his case.
Since March, Bankman Fried has been housed at a federal correctional facility on Terminal Island, California. His expected release date will be October 25, 2044, according to the US Bureau of Prisons.
There is still one criminal case connected to FTX.
Following the Bankman-Fried trial and ruling, the US District Court for the Southern District of New York held hearings for four members of the SBF’s four associates.
Ellison pleaded guilty and testified at Bankmanfleet’s trial, and was sentenced to two years in September 2024. She is scheduled to be released in March 2026.
However, Salamet initially pleaded guilty in 2023, but later attempted to evict the plea in pursuit of charges against prosecutor’s partner, Michelle Bond. He was eventually sentenced to more than seven years in prison, and reported in October 2024. The Bond incident was still ongoing at the time of publication.
Rumors of President’s Amnesty
The report suggests that the bank may be seeking pardon from US President Donald Trump despite moving forward in the Court of Appeal. In an interview released in February, he showed his willingness to more closely identify with Republicans and righteous politicians, not Democrats.
It is unclear whether Trump will pay public attention to his case and consider the pardon of the banker’s taste. Shortly after taking office in January, Trump relented on Silk Road founder Ross Ulbricht. He was sentenced to life in prison.
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