- Judge Lewis Kaplan denied SBF’s request for a new trial and called the claims baseless.
- Kaplan said allegations of witness pressure by prosecutors were “wildly conspiratorial.”
- Sam Bankman-Fried tried to withdraw his motion, but the court proceeded and denied the request.
Crypto entrepreneur Sam Bankman-Fried lost his bid for a new trial after US District Judge Lewis Kaplan rejected claims of newly discovered evidence tied to the collapse of FTX.
In a Tuesday filing in the Southern District of New York, Kaplan called the motion “baseless” and said key allegations were “wildly conspiratorial and entirely contradicted by the record.”
The ruling leaves Bankman-Fried’s 25-year prison sentence in place while his separate appeal continues.
Judge Says Witness Claims Were Not New
Bankman-Fried argued that testimony from former FTX executives could support his position that FTX was solvent and customers were later repaid through bankruptcy proceedings.
He pointed to former FTX Digital Markets co-CEO Ryan Salame and former head of data science Daniel Chapsky.
Kaplan rejected the argument, writing that none of the witnesses were newly discovered. He said Bankman-Fried knew them before the trial and knew what he expected them to say.
The judge added that Bankman-Fried could have sought to compel their testimony during trial, but did not.
‘Wildly Conspiratorial’ Claims Rejected
Bankman-Fried also claimed some witnesses did not testify, or changed testimony, because of pressure from prosecutors. Kaplan dismissed that argument directly.
He wrote that claims of government threats or retaliation were “wildly conspiratorial” and contradicted by the case record.
The judge also said the motion appeared to be part of an effort to repair Bankman-Fried’s public image after FTX entered bankruptcy and before criminal charges were filed.
Kaplan criticized Bankman-Fried’s public campaign around the motion, citing interviews with author Michael Lewis and commentator Tucker Carlson.
Attempt to Withdraw Motion Also Failed
Last week, Bankman-Fried tried to withdraw the motion without prejudice. He told the court he did not believe he would receive a fair hearing before Kaplan and said he needed more time to respond to prosecutors.
Kaplan denied that request and ruled on the motion anyway. Bankman-Fried had also asked for the case to be reassigned to another judge, a request that remains unresolved.
A New York jury found Bankman-Fried guilty in November 2023 on seven counts of fraud, conspiracy, and money laundering.
Prosecutors said he moved billions of dollars in customer funds from FTX to Alameda Research to cover losses, repay loans, and fund spending.
Kaplan sentenced him in 2024 to 25 years in prison and ordered forfeiture of $11 billion for victim recovery. He is currently being held in federal prison in Lompoc, California, as the district court route for a new trial is now closed.
Bankman-Fried still has an active appeal before the Second Circuit Court of Appeals, which is now his main path to challenge the conviction or sentence.
Related: Sam Bankman-Fried Slams FTX Debtors Over Anthropic Shares Sale
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