Sam Bankman-Fried Won’t File Post-Trial Motions After Conviction, Lawyers Say
Lawyers representing Sam Bankman-Fried have stated that they will not be filing any post-trial motions after the FTX founder was found guilty on seven criminal counts related to the misuse of customer funds. In a letter to Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York, the lawyers explained their decision not to request a reconsideration of the verdict or any other actions typically associated with post-trial motions. However, they did mention that they reserve the right to pursue appeals in the future.
Bankman-Fried Awaits Sentencing as FTX Assets are Set for Sale
Sam Bankman-Fried is currently being held at Brooklyn’s Metropolitan Detention Center as he awaits his sentencing, scheduled for March 28th, 2024. Meanwhile, a bankruptcy court has approved the sale of FTX’s Grayscale and Bitwise shares, which will be used to repay creditors of the former crypto empire.
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Hot Take: Bankman-Fried Accepts Guilty Verdict, Focus Shifts to Sentencing and Asset Sale
Following his conviction on charges related to the misuse of customer funds, Sam Bankman-Fried’s legal team has decided not to file any post-trial motions. This means that they will not be requesting a reconsideration of the verdict or alleging any misconduct during the trial. While Bankman-Fried’s lawyers have not ruled out the possibility of appealing in the future, their current focus is on preparing for his sentencing. Additionally, a bankruptcy court has given its approval for FTX’s assets to be sold in order to repay creditors. As the legal proceedings continue, all eyes are now on how Bankman-Fried’s sentencing will unfold and how the asset sale will impact the former crypto empire.
