Sam Bankman-Fried Requests New Trial in FTX Crypto Fraud Case (courthousenews.com)
- Reference: 0180798588
- News link: https://yro.slashdot.org/story/26/02/15/2134211/sam-bankman-fried-requests-new-trial-in-ftx-crypto-fraud-case
- Source link: https://www.courthousenews.com/sam-bankman-fried-asks-for-a-new-trial-in-ftx-crypto-fraud-case/
> Bankman-Fried says evidence disclosed since his trial disproves prosecutors' case about Bankman-Fried's hedge fund running a multi-billion deficit of FTX customer funds, and instead shows that FTX always had sufficient assets to repay the cryptocurrency platform's customer deposits in full. "What it faced was a short-term liquidity crisis caused by a run on the exchange, not insolvency," he wrote...
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> Bankman-Fried also accuses the Department of Justice of coercing a guilty plea and [2]cooperation deal from Nishad Singh — a close friend of Bankman-Fried's younger brother — who [3]testified at trial as a cooperating witness... Bankman-Fried says in the motion that prior to being pressured into a guilty plea, Singh's initial proffer to investigators "contradicted key parts of the government's version of events. But following threats from the government, Mr. Singh changed his proffers to fit the government's narrative and pleaded guilty to charges carrying up to 75 years in prison, with a promise from the prosecution that it would recommend little or no jail time if it concluded that his assistance in prosecuting Mr. Bankman-Fried was 'substantial,'" he wrote in the petition...
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> Additionally, Bankman-Fried requested that U.S. District Judge Lewis Kaplan, who presided over his 2023 trial, recuse himself from ruling on this motion, "because of the manifest prejudice he has demonstrated towards Mr. Bankman-Fried."
"Bankman-Fried's mother, Stanford Law School professor Barbara Fried, filed his self-represented bid for a new trial on his behalf in Manhattan federal court..."
[1] https://www.courthousenews.com/sam-bankman-fried-asks-for-a-new-trial-in-ftx-crypto-fraud-case/
[2] https://www.courthousenews.com/no-jail-time-for-former-ftx-exec-nishad-singh-an-early-cooperator-against-bankman-fried/
[3] https://www.courthousenews.com/bankman-frieds-spending-reeked-of-excess-and-flashiness-former-ftx-exec-says/
He's still in prison? (Score:3, Informative)
Why hasn't he just sent Trump a bribe and received a full pardon like the rest of them?
Re: (Score:2, Insightful)
> Why hasn't he just sent Trump a bribe and received a full pardon like the rest of them?
If he was just a rapist or something minor that would be a no-brainer, but these are economic crimes we are talking about, and some of Trump's acquaintances may have been victims.
Re: (Score:2)
> If he was just a rapist or something minor that would be a no-brainer,
Or a former president of a South American country implicated in the mass smuggling of drugs. No, not Maduro, the [1]other one. [bbc.co.uk]
> but these are economic crimes we are talking about, and some of Trump's acquaintances may have been victims.
That didn't stop him releasing Changping Xiao.
[1] https://www.bbc.co.uk/news/articles/c9qewln7912o
So... (Score:1)
He bought enough Trump coins by now?
"Newly discovered evidence" (Score:2)
Translation: The President is now Donald J Trump.
Re: (Score:2)
We promise to back FTX2.0 with Trump Coin.
He’s been treated so unfairly (Score:2)
As Trump pardons him, I can hear it now:
“He’s been treated very very very very unfairly. Very very unfairly. Some people say more unfairly than anyone. I think worse maybe. It’s a disgrace. “
Then onto the big-eyed blonde in the black turtleneck with the fake deep voice .
FTX customers came out ahead, didn't they? (Score:1)
Having experienced firsthand the effects of cops making shit up, I don't reflexively accept the prosecution's stories about this case or any other.
What is undeniably true is that customers are set to receive everything back plus interest --around 120% of their balance. They would have probably done a lot better if they had been able to hang onto their crypto.
What's more, there's this from NPR:
[1]Vulture investors who bought up bankruptcy claims from FTX could see huge returns [npr.org]
[1] https://www.npr.org/2024/05/03/1249036600/vulture-investors-who-bought-up-bankruptcy-claims-from-ftx-could-see-huge-return
Give hime another 25 years instead (Score:3)
That's the only way there can be some justice.