The founder of crypto exchange FTX, Sam Bankman-Fried (SBF), was sentenced to 25 years in prison by a New York court in 2024. SBF was found guilty on seven counts of money laundering and online fraud involving losses of up to $8 billion.
In February, SBF filed a request for a retrial, claiming to have circumstantial evidence that could prove his innocence. However, a US Federal Judge in New York rejected his request, finding that SBF’s new evidence was unfounded.
For example, the three so-called “new” witnesses were actually known to SBF for a long time, while the accusation that the witnesses were intimidated by the government was a lie and contradicted by the record. The judge also said that the retrial was simply an attempt to salvage his reputation, which was damaged after the FTX collapse.
SBF was originally facing 115 years in prison for various criminal charges. This is a sudden change of fortune for SBF who just a few years ago was crowned the "new generation Warren Buffet" with his promise to donate his wealth to humanitarian causes.
