Sam Bankman-Fried Won’t Pursue Post-Trial Motions After Fraud Conviction: Lawyers

Lawyers for Sam Bankman-Fried are not filing any post-trial motions after the disgraced FTX founder was convicted on seven criminal counts related to the misuse of the crypto exchange’s customer funds.

In a letter to Judge Lewis Kaplan of the U.S. District Court for the Southern District of New York, lawyers Mark S. Cohen and Christian R. Everdell of Cohen & Gresser LLP say that they have decided not to file a post-trial motion following the guilty verdict from the jury.

A post-trial motion is often a request made by the losing party following the conclusion of the trial to ask the court to reconsider its decision or take other actions under the assertion that there were errors in the verdict or misconduct during the trial.

Say the lawyers,

“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 further consideration, we have decided not to file any post-trial motions.”

However, Bankman-Fried’s lawyers are not ruling out the possibility of appealing.

“We reserve our rights to pursue any claims on appeal.”

Bankman-Fried is now at Brooklyn’s Metropolitan Detention Center, where he awaits his sentencing set on March 28th, 2024.

Meanwhile, a bankruptcy court recently green-lighted the sale of FTX’s Grayscale and Bitwise shares to repay creditors of the former crypto empire.

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Featured Image: Shutterstock/One Time/Praveen Nanu