Sam Bankman-Fried Request for Retrial Rejected by U.S. Prosecutors; Report

TLDR

• U.S. prosecutors oppose Sam Bankman-Fried’s retrial motion, calling it unsupported by new evidence.

• Bankman-Fried claims new witnesses could have changed the trial’s outcome, but prosecutors disagree.

• Bankman-Fried’s long-standing claim of FTX’s solvency is dismissed by prosecutors as irrelevant.

• Prosecutors reject claims of political targeting, stating Bankman-Fried’s campaign finance violations were for personal benefit.

Sam Bankman-Fried, the former CEO of the failed cryptocurrency exchange FTX, has requested a retrial after being convicted of fraud and conspiracy in 2023. Bankman-Fried is currently serving a 25-year prison sentence for his role in the collapse of FTX. In his motion, filed in February by his mother, Bankman-Fried claims new evidence that could change the outcome of the case.

However, U.S. prosecutors have swiftly moved to block the request, arguing that the motion lacks legitimate new evidence.

Bankman-Fried’s legal team claims that the testimony of two former FTX executives, Daniel Chapsky and Ryan Salame, could have challenged the prosecution’s case. The motion asserts that these former employees declined to testify due to fear of retaliation. However, prosecutors argue that these individuals were well-known to the defense prior to the trial. As such, they contend that their testimony cannot be considered newly discovered evidence.

Prosecutors’ Rejection of New Evidence in Sam Bankman-Fried Case

In a filing made on March 12, 2026, prosecutors dismissed Bankman-Fried’s claims as unsubstantiated. They noted that the defense had the opportunity to call these witnesses during the trial but chose not to. The prosecutors emphasized that even if the witnesses had testified, it would not have affected the verdict due to the overwhelming evidence against Bankman-Fried.

They further argued that the evidence presented during the trial was more than sufficient to demonstrate that Bankman-Fried orchestrated the transfer of billions of dollars in customer funds to his trading firm, Alameda Research.

Solvency Claims and Legal Rebuttal

Bankman-Fried’s motion also repeated his long-standing argument that FTX was solvent at the time of its collapse and that customers could ultimately be repaid. This claim was central to his defense strategy, as he suggested that FTX’s bankruptcy was not an indication of criminal fraud.

However, prosecutors vehemently rejected this argument, asserting that FTX’s financial problems were far more severe than Bankman-Fried suggested.

At one point, FTX held only around 105 bitcoin against customer claims approaching 100,000 bitcoin, prosecutors pointed out. They argued that the eventual recovery of assets through bankruptcy proceedings does not negate the fraud that took place. “Criminal fraud is complete at the moment of misappropriation,” the prosecutors emphasized, refuting Bankman-Fried’s claim that customers could eventually be repaid.

Political Persecution Claims

Bankman-Fried also raised claims of political persecution, suggesting that his legal troubles were politically motivated by the Biden administration. He argued that his substantial donations to the Democratic Party played a role in the prosecution’s actions. However, prosecutors dismissed these allegations, noting that Bankman-Fried’s campaign finance violations were directly tied to his own financial interests.

They further argued that the idea of political targeting had no basis in fact, as Bankman-Fried’s actions were motivated by personal gain rather than political ideology.

As of now, Bankman-Fried remains incarcerated while the legal battle continues. His team’s efforts to overturn the verdict through appeals and motions for a new trial are ongoing, but with little success thus far.

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