Lawyers for Sam Bankman-Fried will not file post-trial motions after the disgraced FTX founder was convicted on seven criminal charges 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, attorneys Mark S. Cohen and Christian R. Everdell of Cohen & Gresser LLP say they have decided not to file a post-trial motion following the guilty verdict of the jury.
A post-trial motion is often a request by the losing party after the trial to ask the court to reconsider its decision or take other action based on the allegation that errors in the verdict were made during the trial or that there has been misconduct.
Tell the lawyers
“On behalf of our client, Samuel Bankman-Fried, we respectfully submit this letter to keep the Court informed of the status of the post-trial motions. After further consideration, we have decided not to file any post-trial motions.”
However, Bankman-Fried’s lawyers do not rule out the possibility of an appeal.
“We reserve the right to pursue any claims on appeal.”
Bankman-Fried is now in the Metropolitan Detention Center in Brooklyn, where he awaits sentencing on March 28, 2024.
Meanwhile, a bankruptcy court recently greenlighted the sale of FTX’s Grayscale and Bitwise shares to repay the former crypto empire’s creditors.
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Featured image: Shutterstock/One Time/Praveen Nanu