Sam Bankman-Fried's lawyers claim in an appeal that he was judged too quickly

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Sam Bankman-Fried's lawyers claim in an appeal that he was judged too quickly

2024-09-14 05:16 Last Updated At：05:21

NEW YORK (AP) — Lawyers for Sam Bankman-Fried claim in an appeal filed Friday that the imprisoned FTX founder was the victim of a rush to judgment by a public that wrongly believed he was guilty of stealing billions of dollars from his customers and investors before he was even arrested.

The lawyers filed papers with the 2nd U.S. Circuit Court of Appeals asking a three-judge panel to reverse his conviction and assign the case to a new judge for a retrial, saying the trial judge “imposed a draconian quarter-century sentence on this first-time, non-violent offender” after they contend he hurried the jury into reaching a one-day verdict to cap off a complex four-week trial.

“Sam Bankman-Fried was never presumed innocent. He was presumed guilty — before he was even charged. He was presumed guilty by the media. He was presumed guilty by the FTX debtor estate and its lawyers. He was presumed guilty by federal prosecutors eager for quick headlines. And he was presumed guilty by the judge who presided over his trial,” the lawyers wrote.

They said the passing of time has cast Bankman-Fried in a better light.

“From day one, the prevailing narrative — initially spun by the lawyers who took over FTX, quickly adopted by their contacts at the U.S. Attorney’s Office — was that Bankman-Fried had stolen billions of dollars of customer funds, driven FTX to insolvency, and caused billions in losses,” the attorney said.

“Now, nearly two years later, a very different picture is emerging — one confirming FTX was never insolvent, and in fact had assets worth billions to repay its customers. But the jury at Bankman-Fried’s trial never got to see that picture,” they added.

Bankman-Fried, 32, was convicted last November of fraud and conspiracy a year after his companies collapsed into bankruptcy as investors rushed to withdraw funds. A jury concluded that some of their money had been improperly spent on real estate, investments, celebrity endorsements, political contributions and lavish lifestyles.

At its height, FTX was treated as a pioneer and darling in the emerging cryptocurrency industry, with a Super Bowl advertisement, testimony by Bankman-Fried before Congress and endorsements from celebrities such as quarterback Tom Brady and comedian Larry David.

Bankman-Fried was arrested in December 2022 following his extradition from the Bahamas, just weeks after his company filed for bankruptcy and days after some of his former top executives began cooperating with federal prosecutors. Some of them testified against him at trial.

He initially remained under strict bail conditions at his parents' home in Palo Alto, California, but Judge Lewis A. Kaplan in Manhattan revoked his bail shortly before the trial after concluding that Bankman-Fried was trying to influence likely witnesses, including an ex-girlfriend who had served as chief executive at Alameda Research, a crypto hedge fund.

The fallen mogul is serving a 25-year sentence after he was sentenced in March in what a prosecutor once described as one of the biggest financial frauds in U.S. history.

A prosecutor’s spokesperson declined to comment Friday.

The hunt for gasoline is adding to Floridians’ anxiety as Milton nears

2024-10-09 05:06 Last Updated At：05:11

TAMPA, Fla. (AP) — Florida gas stations struggled to keep up with demand Tuesday as long lines and empty pumps compounded the stress for residents planning to hunker down or flee as Hurricane Milton approached the state's western coast.

Gov. Ron DeSantis said during a morning news conference that state officials, including the Florida Highway Patrol, were working with fuel companies to continue bringing in gasoline ahead of Milton's expected landfall on Wednesday. Troopers escorted 27 fuel trucks to stations Monday night, DeSantis said.

Patrick De Haan, an analyst for GasBuddy, said “replenishments are happening,” but about 16.5% of Florida stations were out of fuel as of Tuesday afternoon — up from 3.5% a day earlier. More than 43% of the stations in the Tampa-St. Petersburg area had no gasoline as of late Tuesday morning, according to GasBuddy.

DeSantis outlined replenishment efforts during his morning news conference.

“We have been dispatching fuel over the past 24 hours as gas stations have run out,” DeSantis said. “So we currently have 268,000 gallons of diesel, 110,000 gallons of gasoline. Those numbers are less than what they were 24 hours ago because we’ve put a lot in, but we have an additional 1.2 million gallons of both diesel and gasoline that is currently en route to the state of Florida.”

DeSantis stressed that there wasn't a fuel shortage.

“That’s technically correct. Fuel is flowing, but stations can’t keep caught up,” De Haan said. “But it’s hard to tell somebody that's at a pump with a bag over it that there’s no shortage.”

“You've got to have patience,” Stephanie Grover-Brock, a Tampa resident in line for gasoline in the Riverview area, said Tuesday morning. “It's a little aggravating. You've got to be patient, be determined and just have grace.”

Nearby, motorist Ralph Douglas said some gas stations in Ruskin, where he lives, ran out of gas, but he was able to find fuel elsewhere.

Also in line was Martin Oakes of Apollo Beach.

“I was able to get some gas yesterday, but then they ran out,” Oakes said, waiting in a slow-moving line. “So now I'm trying to get gas here again and, you know, long lines, trickling gas pumps.”

Oakes and Grover-Brock said they were not in evacuation zones and did not plan to leave.

Ned Bowman, spokesperson for the Florida Petroleum Marketers Association, said the situation was typical for a Florida hurricane — with demand peaking and some stations temporarily running dry. He said suppliers are “constantly” moving fuel to stations.

“Have patience,” Bowman said. “It's out there.”

AAA told The Associated Press it would advise Floridians to “take only what you need” and if evacuating, to avoid letting one's gas tank get too low before looking for a place to fill up.

DeSantis said during his news conference there is enough gasoline for those who are evacuating.

“You do not have to get on the interstate and go far away,” DeSantis said. “You can evacuate tens of miles. You do not have to evacuate hundreds of miles away. You do have options.”

McGill reported from New Orleans.

This story corrects that more than 43% of the stations in the Tampa-St. Petersburg area had no gasoline as of late Tuesday morning, not Wednesday morning.