Judge Rejects Sam Bankman-Fried’s New Trial Request, Calls Claims ‘Wildly Conspiratorial’

A U.S. District Court judge has rejected former Sam Bankman-Fried’s request for a new trial, dismissing his arguments as “baseless” and “wildly conspiratorial.” In an order filed Tuesday in the U.S. District Court for the Southern District of New York, Judge Lewis Kaplan ruled that the new evidence presented by Bankman-Fried failed to justify reopening the case.

Bankman-Fried had argued that new material showed the now-bankrupt crypto exchange FTX was solvent. However, Judge Kaplan rejected the claim, stating the evidence did not support his assertions. Notably, Bankman-Fried had earlier requested Kaplan’s recusal but later withdrew his motion for a new trial, saying he did not believe he would receive a fair hearing. His appeal of the conviction remains pending.

Witness Claims Dismissed by Court

In his February motion, Bankman-Fried accused the U.S. Department of Justice of withholding information and claimed potential testimony from Ryan Salame and Daniel Chapsky could have changed the trial’s outcome. He alleged both individuals were afraid to testify due to government pressure.

Judge Kaplan countered that Bankman-Fried had opportunities to seek or compel their testimony but failed to do so. He emphasized that claims of government threats were unsupported and contradicted by the record. Salame had previously pleaded guilty and was sentenced in 2024 to 90 months in prison.

Background and Sentencing

Bankman-Fried was found guilty in November 2023 on all seven criminal counts related to defrauding customers, lenders, and investors of FTX. Prosecutors described the scheme as one of the largest frauds in the past decade, drawing comparisons to Ponzi scheme operator Bernie Madoff. His hedge fund, Alameda Research, played a central role in the misconduct alongside FTX.

He was sentenced to 25 years in prison and has also sought a pardon from Donald Trump, though the president has publicly stated he has no plans to grant clemency.

Public Campaign Criticized

Judge Kaplan also criticized Bankman-Fried’s attempts to promote his claims publicly, referencing interviews with author Michael Lewis and commentator Tucker Carlson. The judge stated that Bankman-Fried’s so-called new facts had been reviewed multiple times before, highlighting what he described as a “fatal flaw” in the defense’s arguments.