Prosecutors Request Dismissal of SBF's Retrial Application

Odaily News: U.S. prosecutors have urged a judge to dismiss former FTX CEO Sam Bankman-Fried's request for a new trial, stating that he failed to present any legitimate new evidence.

Sam Bankman-Fried was convicted of fraud and conspiracy by a jury in 2023 and is currently serving a 25-year prison sentence. His mother filed a motion on his behalf in February this year, arguing that two former FTX executives, Daniel Chapsky and Ryan Salame, did not testify in court due to fear of retaliation, and that their testimony could have refuted the prosecution's narrative. Prosecutors countered in a filing on Wednesday, stating that these witnesses were "fully known to the defense" before the trial, and the defense did not list them as witnesses or compel their appearance at the time, thus they do not constitute newly discovered evidence. Prosecutors also stated that even considering this testimony, the trial outcome would not change given the substantial evidence proving that Sam Bankman-Fried directed the transfer of billions in customer funds to Alameda.

Addressing Sam Bankman-Fried's claim that FTX was not insolvent, prosecutors pointed out that FTX held only about 105 BTC while facing claims from customers holding nearly 100,000 BTC, emphasizing that asset recovery through bankruptcy proceedings does not justify criminal acts. Prosecutors also dismissed his allegation of political persecution by the Biden administration, noting that Sam Bankman-Fried himself was one of the largest Democratic donors in 2020 and 2022, and his campaign finance violations were precisely to facilitate these donations. Sam Bankman-Fried had previously sought a pardon from U.S. President Donald Trump, but Trump stated in January he had no plans to pardon him.