SBF's legal team, #Cohen & Gresser, recently submitted a court document concerning their client, #Sam Bankman-Fried, to Judge Lewis Kaplan of the Southern District Court of New York. The document stated that there would be no further motions filed after the conclusion of the trial. However, it also mentioned that SBF may consider appealing the verdict.
Following a month-long trial, the jury unanimously found the founder of FTX guilty on all 7 counts of fraud and money laundering. This decision has serious consequences for SBF, as he faces a potential sentence of up to 115 years in prison. Currently, he is being held at the Metropolitan Detention Center in Brooklyn and will remain in pre-trial detention until March 28, 2024, when his sentencing is scheduled.
Despite the unfavorable outcome, SBF's lawyers are keeping the possibility of an appeal open. While the details of their strategy remain undisclosed, it is clear that they are not yet finished fighting for their client. The road ahead may be challenging, but it seems that SBF's legal team is determined to explore all available options to seek justice for their client.
On behalf of our client, Samuel Bankman-Fried, we respectfully submit this letter to update the Court on the status of post-trial motions. After careful consideration, we have decided not to file a post-trial motion. We reserve the right to appeal.
6 other accusations, in addition to the first 7, await SBF in 2024
Since being imprisoned on August 11, 2023 at the MDC in Brooklyn, Sam Bankman-Fried has faced a total of 13 charges. However, six of these charges were issued after his extradition from the Bahamas and could not be considered in the recent trial held in October.
One notable charge against the former #FTX boss is his alleged fraudulent financing of electoral campaigns, including a $5 million donation to Joe Biden in 2020. This charge will be addressed in a second trial scheduled for March 2024, coinciding with the sentencing decision for his first trial.
In the meantime, Sam Bankman-Fried appears to be adapting to his life in prison. Reports suggest that he has resumed trading, albeit in a different form, by exchanging canned mackerel for various services. The outcome of this legal saga will unfold in the first months of 2024.
