FTX founder SBF seeks retrial in crypto case in U.S. court

Sam Bankman-Fried, founder of cryptocurrency exchange FTX and currently serving a prison sentence on fraud-related charges, has asked a U.S. court to grant a retrial in his criminal case.

According to SolidIntel on the 10th (local time), Bankman-Fried recently filed a motion for a retrial with the U.S. District Court for the Southern District of New York in connection with the virtual-asset criminal case involving him.

He is said to have argued in the filing that alleged procedural issues during the trial and the appropriateness of the court’s judgment should be revisited. Specific grounds for the motion and the legal basis were not disclosed.

Bankman-Fried was indicted on charges including misappropriation of customer funds and fraud following FTX’s collapse, was convicted, and is currently serving his sentence. If the retrial request is granted, the case will be reconsidered by the court.

Motions for retrial are procedures for which courts typically apply strict requirements, and some assessments say the likelihood of proceedings being reopened is limited. Still, as the court reviews the motion, some issues could re-emerge.

The request is another sign that legal proceedings tied to the FTX debacle remain ongoing, drawing attention to the court’s next decision.