Former FTX CEO, Sam "SBF" Bankman-Fried, who was recently sentenced to 25 years in federal prison, has filed a request to stay temporarily incarcerated in the New York City area instead of being transferred to California for his appeal process.
In a filing made on April 8 in the United States District Court for the Southern District of New York, Bankman-Fried's legal team requested Judge Lewis Kaplan to allow him to remain at the Metropolitan Detention Center in Brooklyn. The request aims to facilitate access to appellate counsel as part of his anticipated appeal against his conviction and sentencing.
Source:Courtlistener
Prior to the announcement of Bankman-Fried's 25-year sentence on March 28, his attorney, Marc Mukasey, stated their intention to appeal the conviction on seven felony counts. However, as of the time of publication, no filing had been made in the online portal for the U.S. Court of Appeals for the Second Circuit.
Initially, Judge Kaplan had ruled for Bankman-Fried to serve his sentence at a medium- or low-security prison in the San Francisco Bay Area, likely due to family proximity. Bankman-Fried had been confined to his parents' California home near Stanford University before his bail was revoked in August 2023.
Bankman-Fried was among the few individuals associated with the collapse of FTX and Alameda Research to plead not guilty and face a jury trial. Others involved in the case, including Caroline Ellison, Gary Wang, Nishad Singh, and Ryan Salame, pleaded guilty and accepted deals. Salame is scheduled for sentencing on May 28, while the sentencing dates for Wang, Ellison, and Singh remain unclear. Additionally, Changpeng Zhao, who pleaded guilty to a felony count in a separate case involving Binance, is set to be sentenced on April 30.
Former FTX CEO Sam Bankman-Fried receives 25-year prison sentence, highlighting legal scrutiny in crypto. Judge cites $1.7B investor loss, $1.3B lender loss, and $8B customer shortfall. Complex sentencing reflects industry complexities. Victim testimonies underscore human toll. Defense emphasizes intent. Case shapes digital asset regulation discussions.
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