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US Judge Rejects Former FTX CEO Sam Bankman Fried’s Bid for New Trial

US Judge Rejects Former FTX CEO Sam Bankman-Fried’s Bid for New Trial

Court rejects request citing lack of new evidence.

Written by Rahul Dhingra, Edited by David Delima | Updated: 29 April 2026 18:30 IST

US Judge Rejects Former FTX CEO Sam Bankman-Fried’s Bid for New Trial

Photo Credit: Reuters

Court order dismisses claims tied to request for retrial

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Highlights

A request for a new trial was denied by the Manhattan court
Motion filed without consulting legal counsel
Case continues as appeals process moves forward

A US judge has declined former FTX CEO and co-founder Sam Bankman-Fried's plea for a new trial, claiming that the witnesses cited were not newly discovered. The former FTX CEO's trial was overseen by Judge Lewis Kaplan in 2023, who wrote in an order on Tuesday that the claim of new evidence and witnesses was baseless. In February, Bankman-Fried had requested a new trial to be overseen by a different judge. On top of that, the motion was reportedly filed without consulting his lawyers, while an appeals court was considering his conviction and sentence.

Judge Questions Basis of Motion and Dismisses Claims

On Wednesday, Bankman-Fried sought to withdraw his request, as he believed that he would not get a fair hearing on this topic, but the judge denied. As per a report by Bloomberg, the FTX founder had accused Nishad Singh, who is the firm's head of engineering, of changing his statement after “threats from the government.” He also added that the two other executives, Daniel Chapsky and Ryan Salame, would also dispute the prosecution's claims, but they also declined to testify due to similar repercussions.

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The judge had characterised the motion by Bankman-Fried as part of a calculated effort to strengthen his reputation, stating that “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," according to court documents.

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In 2024, Bankman-Fried was sentenced to 25 years in prison for stealing $8 billion (roughly Rs. 66,678 crore) from customers of the now-bankrupt FTX cryptocurrency exchange he founded. US District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried's claim that FTX customers did not actually lose money and finding that he lied during his trial testimony.

The jury found Bankman-Fried guilty on seven fraud and conspiracy counts stemming from FTX's 2022 collapse in what prosecutors have called one of the biggest financial frauds in US history.

The court's decision comes as Bankman-Fried's case continues to proceed through the appeals process. Furthermore, the case remains one of the most closely scrutinised cases in the crypto industry, reflecting the implications of accountability and regulation in the sector.

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

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Further reading: Crypto hacks, Crypto Regulation, FTX Exchange

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More

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US Judge Rejects Former FTX CEO Sam Bankman-Fried’s Bid for New Trial

Judge Questions Basis of Motion and Dismisses Claims

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