On the eve of the announcement of the final decision of the US District Court in the case of Sam Bankman-Fried, defense lawyer Marc Mukasey said that his client repents of his crimes, but will continue to fight for his rights and intends to challenge the verdict in the 2nd US Circuit Court of Appeals in Manhattan. Lawyers for Sam Bankman-Fried have asked for court approval to temporarily hold their client at the Metropolitan Detention Center in Brooklyn. While the issue of his appeal is being resolved.
Industry experts say Bankman-Fried's appeal could take years and pose significant legal challenges. His lawyers will need to convince an Appeals Court panel and possibly go to the U.S. Supreme Court to argue that U.S. District Judge Lewis Kaplan committed serious procedural errors that deprived the former FTX chief of his legal rights and rendered the trial unfair.
Recall that former FTX CEO Sam Bankman-Fried was found guilty of seven criminal counts related to fraud and sentenced to 25 years in prison. Judge Kaplan recommended that Bankman-Fried serve his time in a medium- or maximum-security prison near California's Bay Area, citing that his “connection to enormous wealth” and social skills could make him a target for aggression from fellow inmates.
Earlier, Bloomberg sources reported that after the conviction of the former head of the collapsed crypto exchange FTX, the attention of the investigation turned to his closest associates who opposed the disgraced boss in court. The Southern District of New York court will assess the extent of liability in the FTX Group multibillion-dollar fraud case of Caroline Ellison, Nishad Singh and Gary Wang.
Source: Bits
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