Former CEO of the bankrupt crypto exchange FTX Sam Bankman-Fried (SBF) filed an appeal to appeal his sentence. The corresponding document was sent to the District Court for the Southern District of New York (SDNY) on April 11, 2024.
The appeal comes two weeks after Bankman-Fried was found guilty of seven charges of fraud and conspiracy to launder money. He was sentenced to 25 years in prison and ordered to pay a fine of $11 billion. Note that the US Attorney's Office previously requested 40 to 50 years in prison for the defendant.
After the verdict was announced, SBF expressed remorse for the crimes committed. At the same time, the defense expressed its intention to appeal the court's decision.
It is not entirely clear on what grounds Bankman-Fried plans to appeal the verdict. At his trial, his legal team was not allowed to call witnesses.
It is worth noting that filing a notice of appeal does not guarantee that it will be heard by a US court. This procedure includes many stages, including the submission of a package of documents, a written statement and oral arguments. Even in the case of a positive decision to re-examine the case, the trial may drag on for several years.
According to Bloomberg, Bankman-Fried's lawyers are pushing for their client to remain in the Brooklyn Metropolitan Detention Center (MDC) while he appeals his conviction. SBF has repeatedly complained about conditions at MDC and has faced extortion.
Source: Cryptocurrency
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