Judge Rejects Sam Bankman-Fried’s New Trial Request

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A U.S. judge has rejected Sam Bankman-Fried’s motion for a new trial, dealing another blow to the former FTX CEO’s post-conviction legal strategy. The ruling dismisses claims tied to “new evidence” and alleged hidden liquidity that could have repaid customers. The decision keeps Bankman-Fried’s fraud conviction intact as he continues to pursue appeals.

Judge dismisses new trial arguments

As it happens, Judge Lewis Kaplan, who presided over the original trial, reviewed and rejected the motion, which Sam Bankman-Fried partly wrote by himself with assistance from his parents, according to a report on April 28.

According to the ruling, the arguments presented did not meet the standard required for granting a new trial, particularly around claims of newly discovered evidence. As Judge Kaplan explained:

“None of the witnesses, for example, is ‘newly discovered.’ Bankman-Fried well before trial knew all three of them and purportedly knew also what he hoped they would say were they to testify. He could have obtained or at least sought to compel their testimony. But he did neither.”

The filing leaned on testimony from former FTX executives, but the court determined that the defense already knew these individuals during the initial proceedings.

“Reputation rescue” narrative rejected

Kaplan also pointed to a broader strategy behind the filing, suggesting it was part of an attempt to reshape the narrative around the FTX collapse:

“This motion appears to be one part of a plan to rescue his reputation that Bankman-Fried hatched and even committed to writing after FTX declared bankruptcy but before he was indicted.”

One of the key arguments raised by Bankman-Fried was that FTX’s bankruptcy process disrupted access to liquidity that could have made customers whole. Prosecutors previously dismissed that claim as misleading and unsupported.

The judge further rejected an attempt by Bankman-Fried to withdraw the motion, ruling on it regardless and closing that avenue.

Bankman-Fried was convicted on seven counts of fraud and conspiracy tied to the collapse of FTX and the transfer of customer funds to Alameda Research. With this latest motion denied, his remaining options now center on the appeals process rather than retrial.

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