TLDR
- The former FTX chief has pulled back his Rule 33 request for a new trial
- Bankman-Fried expressed doubts about receiving impartial treatment from Judge Lewis Kaplan
- The filing was reportedly drafted by SBF while imprisoned, with input only from his parents
- A federal appeals court is still reviewing his conviction and prison sentence
- Despite seeking clemency from President Trump, the former president indicated in January he wouldn’t issue a pardon
The disgraced founder of FTX, Sam Bankman-Fried, has pulled his request for a new trial. On Wednesday, he submitted a formal letter to the US District Court for the Southern District of New York announcing the withdrawal.
According to the letter, Bankman-Fried expressed his belief that Judge Lewis Kaplan would not provide him with impartial consideration on the issue. The motion was withdrawn without prejudice, which preserves his right to submit it again in the future.
This decision followed Judge Kaplan’s inquiry into whether legal counsel assisted Bankman-Fried in preparing the document. The filing, classified as a Rule 33 motion, is a formal request asking the court to order a new trial.
Bankman-Fried stated that he personally developed the concept, wrote the entire document, and conducted the majority of legal research while detained at a Brooklyn facility. He emphasized that his defense attorney was not involved in the process.
However, he did share preliminary versions with his parents, Barbara and Joseph Bankman-Fried. His mother had previously submitted correspondence to the court on his behalf, despite lacking official legal authority to do so.
“They made editorial and organizational suggestions, some of which I incorporated into the motion,” Bankman-Fried explained. His parents also assisted with printing the document since he no longer had word processing capabilities available.
Earlier in February, Bankman-Fried requested that a different judge be assigned to review his new trial motion. He argued that Kaplan demonstrated “extreme prejudice” toward him throughout the legal proceedings.
His Conviction and Sentence
In November 2023, Bankman-Fried was convicted on all seven fraud-related charges. The allegations centered on the improper use of customer deposits at FTX, which had previously been among the world’s most prominent cryptocurrency platforms.
Federal prosecutors characterized it as “likely the largest fraud in the last decade,” with parallels drawn to the Bernie Madoff scandal. His trading firm, Alameda Research, played a key role in the purported fraud scheme.
The court sentenced him to a 25-year prison term, and he is now serving time at the Federal Correctional Institution, Lompoc I, located in California.
Appeals and Pardon Efforts
Bankman-Fried maintains an active appeal challenging both his conviction and sentence in the US Court of Appeals for the Second Circuit. The withdrawal of his Rule 33 motion has no impact on that ongoing appellate process.
He has also made public overtures seeking presidential clemency from Donald Trump. Through social media channels, he expressed support for Trump’s cryptocurrency initiatives and foreign policy decisions.
Nevertheless, Trump made clear during a January New York Times interview that he does not plan to grant Bankman-Fried a pardon.
The motion requesting reassignment to a different judge also remains under consideration. According to Wednesday’s filing, Bankman-Fried intends to await the outcome of his direct appeal before deciding whether to refile the new trial motion.
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