Prosecutors Oppose Sam Bankman-Fried’s Request for New FTX Trial

U.S. prosecutors have urged a court to deny former Sam Bankman-Fried’s request for a new trial, arguing that the motion fails to present any legitimate newly discovered evidence. Bankman-Fried is serving a 25-year sentence following his 2023 conviction for fraud and conspiracy related to the collapse of FTX.

The February motion, filed by his mother on his behalf, suggested that two former FTX executives, Daniel Chapsky and Ryan Salame, could have provided testimony challenging prosecutors’ narrative. Prosecutors countered that these witnesses were known to the defense before trial, and their absence does not constitute newly discovered evidence.

Prosecutors Dismiss Solvency and Political Claims

Bankman Fried’s motion also reiterated claims that FTX was solvent and that customers could eventually be repaid. Prosecutors rejected this, noting that FTX held only about 105 bitcoin while customer claims approached 100,000 bitcoin, emphasizing that fraud occurred at the moment of misappropriation.

Additionally, prosecutors criticized claims that the case represented political persecution, pointing out Bankman-Fried’s substantial donations to Democratic campaigns and noting that the legal action was tied to campaign finance violations, not politics.

With prosecutors strongly opposing the motion, the court is expected to weigh the lack of new evidence against claims of solvency and political bias, likely making a retrial unlikely.

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