FTX CEO Appealing 25-Year Sentence
Former FTX CEO Sam Bankman-Fried is challenging his 25-year sentence following a court ruling that found him guilty of defrauding investors of over $8 billion. Bankman-Fried’s new lawyer, Alexandra A.E. Shapiro, has filed for a new trial, claiming that the presiding judge hindered his defense and limited evidence.
FTX Executives Facing Legal Troubles
Other FTX executives like former Alameda CEO Caroline Ellison and Ryan Salame are also facing legal issues. Ellison’s lawyers are advocating for a supervised release, while Salame is dealing with Justice Department prosecutors over campaign finance probes on his partner.
Legal Battles Surrounding FTX’s Collapse
FTX’s collapse has led to ongoing litigation on multiple fronts. The defunct exchange, Alameda, and the Commodity Futures Trading Commission recently settled for $12.7 billion, while the Securities and Exchange Commission may contest FTX’s plans to repay creditors using stablecoins in bankruptcy proceedings.
