Bankman-Fried Says ‘Rush to Judgment’ Prevented Fair Trial

FTX co-founder Sam Bankman-Fried wants a new trial, arguing a federal judge hamstrung his defense.

Attorneys for the disgraced cryptocurrency CEO contend that “everyone rushed to judgment” after FTX’s implosion and that fair-trial principles were wiped out in a “sentence first-verdict afterwards tsunami,” Bloomberg News reported Friday (Sept. 13), citing court records.

“When the government introduces evidence, defendants have the right to rebut that evidence and present their side of the story,” the filing said. “But none of that happened here.”

Bankman-Fried, 32, was found guilty last year of masterminding an elaborate, multibillion-dollar fraud at FTX — which declared bankruptcy in 2022 — and was sentenced to 25 years in prison.

Now, the report noted, he is seeking another day in court in front of a new judge, arguing that federal Judge Lewis Kaplan displayed bias at trial.

“Many of the judge’s rulings were not just erroneous but unbalanced — repeatedly putting a thumb on the scale to help the government and thwart the defense,” Bankman-Fried’s attorneys wrote. “But that is not all. The judge continually ridiculed Bankman-Fried during trial, repeatedly criticized his demeanor, and signaled his disbelief of Bankman-Fried’s testimony.”

The court filing alleges that Kaplan “repeatedly mocked defense counsel” and criticized their questioning in front of the jury, while going “out of his way to help the government in other ways.” They also said the judge “improperly prodded” jurors to reach a quick verdict, pointing to his invitation to jurors to remain late on the first day of deliberations while offering rides home and meals.

While Bankman-Fried is seeking a new trial, one of his former colleagues is hoping to avoid prison altogether. Caroline Ellison, former CEO of FTX sister company Alameda Research, is asking the court to sentence her to time served and three years of supervised release.

“Caroline Ellison is a young person of enormous talent and promise, with a deep commitment to helping others,” the her court filing said. “Tragically, she became embroiled in the very serious crimes committed at FTX and Alameda Research. Caroline blames no one but herself for what she did. She regrets her role deeply and will carry shame and remorse to her grave.”

Ellison was one of Bankman-Fried’s top lieutenants — in addition to being a longtime friend and former romantic partner — and testified against him trial.

She pleaded guilty to fraud in connection with FTX’s downfall soon after the cryptocurrency exchange declared bankruptcy.

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