Sam Bankman-Fried is trying to rewrite the story of one of the biggest white-collar crimes in American history.
It’s a redemption effort that might have appeared far-fetched two years ago, when a jury found Bankman-Fried guilty of stealing billions of dollars from customers of his now-bankrupt crypto exchange, FTX.
Under the Trump administration, though — with its accommodating stance toward crypto and the president’s penchant for pardoning white-collar criminals — Bankman-Fried may have a better shot than most.
Oral arguments for Bankman-Fried’s appeal are set to begin in Manhattan on Tuesday, nearly two years to the day since he was convicted on seven counts of fraud and conspiracy that led to his 25-year prison sentence. The appeal is likely to center on two key issues:
First, the question of FTX’s solvency. Bankman-Fried’s lawyers have said that the exchange “was never insolvent,” an argument echoed Thursday in a document posted on
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