Sam Bankman-Fried Takes Another Shot at Overturning FTX Fraud Conviction

TLDR

• Sam Bankman-Fried filed a motion for a new trial on his FTX fraud conviction through his mother, Barbara Fried, a retired Stanford law professor
• The motion argues that testimony from former FTX executives Daniel Chapsky and Ryan Salame could challenge the prosecution’s case about FTX’s financial condition
• Bankman-Fried is serving a 25-year prison sentence after being convicted on seven criminal counts related to misuse of customer funds
• He requested a different judge review the motion, claiming trial judge Lewis Kaplan showed prejudice during proceedings
• The FTX bankruptcy estate continues distributing billions to creditors in 2025 as part of its phased repayment process

Sam Bankman-Fried has asked a federal court for a new trial on fraud charges related to the collapse of FTX. The former crypto exchange CEO filed the motion through his mother, Barbara Fried, on Thursday in Manhattan federal court.

The motion argues that new witness testimony could undermine the government’s case. Bankman-Fried specifically points to testimony from former FTX executives Daniel Chapsky and Ryan Salame as potentially helpful to his defense.

Neither executive testified during the original trial. Salame pleaded guilty to campaign finance and fraud-related charges and is currently serving a seven-and-a-half-year prison sentence.

The filing represents a separate effort from Bankman-Fried’s formal appeal. Motions for new trials face high legal standards and are rarely granted by courts.

Bankman-Fried was convicted in 2023 on seven criminal counts. The charges related to the misuse of customer funds at FTX and its affiliated trading company, Alameda Research.

He received a 25-year prison sentence for his role in the fraud. The case became one of the most high-profile cryptocurrency fraud prosecutions in history.

Judge Recusal Request

The motion also requests that a different judge review the case. Bankman-Fried claims that trial judge Lewis Kaplan showed “manifest prejudice” during the proceedings.

These arguments mirror points raised in his previous appeal hearing. His lawyer argued that Kaplan improperly prevented the defense from telling jurors that sufficient funds existed to repay investors.

In November, appellate judges showed skepticism toward some of Bankman-Fried’s arguments. Circuit Judge Maria Araújo Kahn noted that the government’s case centered on misrepresentation to investors about how their money was being used.

Barbara Fried submitted the 35-page document to the court. The filing indicates Bankman-Fried is representing himself in this matter.

FTX Bankruptcy Repayments

While Bankman-Fried continues his legal challenges, the FTX bankruptcy estate is making progress on customer repayments. The estate distributed billions of dollars to creditors in 2025.

Court-appointed administrators oversee the remaining assets. They continue using a phased repayment process to return funds to affected customers.

Additional payouts are expected as asset recoveries continue. Claims reviews are still ongoing as part of the bankruptcy proceedings.

President Donald Trump recently stated he would not consider clemency for Bankman-Fried. The former FTX CEO maintains his innocence and continues to argue his case on social media platform X.

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