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U.S. Prosecutors Urge Court to Reject Sam Bankman-Fried Retrial Bid

U.S. Prosecutors Urge Court to Reject Sam Bankman-Fried Retrial Bid

According to prosecutors, Sam Bankman-Fried’s retrial request lacks lawful new evidence, while court filings also restate allegations that FTX customer funds were diverted to Alameda despite limited Bitcoin reserves against customer claims.

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Fact Check
The claim is accurately supported by multiple reputable news outlets reporting on the same day (March 12, 2026). The details regarding the lack of new evidence and the restatement of allegations about fund diversion are central themes in the prosecutors' filing as reported by Bloomberg and The Block.
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Summary

U.S. prosecutors asked the court to deny Sam Bankman-Fried’s request for a new trial in the FTX fraud case, arguing that his filing presented no lawful new evidence and did not show the original trial was unfair. Prosecutors said two former FTX executives cited by the defense were already known before the 2023 trial. They also reiterated evidence that billions of dollars in customer funds were routed to Alameda Research and said FTX held about 105 BTC against customer claims tied to nearly 100,000 BTC. Bankman-Fried was convicted in 2023 on fraud and conspiracy charges and later sentenced to 25 years in prison.

Terms & Concepts
  • FTX: A cryptocurrency exchange that collapsed in 2022 and became central to fraud, bankruptcy, and criminal proceedings.
  • BTC: The ticker symbol for Bitcoin, the largest cryptocurrency by market value.
  • Alameda Research: A crypto trading firm closely linked to FTX that prosecutors said received customer funds from the exchange.