Sam Bankman-Fried Returns to Court, Waives Conflict of Interest for Lawyers

Former FTX CEO Sam “SBF” Bankman-Fried recently appeared in court to address potential conflicts of interest in his legal representation. He voluntarily waived his right to conflict-free counsel and allowed lawyers Marc Mukasey and Torrey Young to represent him. This decision mirrored the actions of former Celsius CEO Alex Mashinsky, who made a similar choice in a previous hearing. The courtroom appearance, held in the United States District Court for the Southern District of New York, marked one of Bankman-Fried’s rare outings since his conviction in November 2023, where he was found guilty of seven felony counts.

Bankman-Fried has largely stayed out of the media spotlight during his time behind bars, but recently, photos surfaced showing him with other inmates on February 19. Despite the potential conflict of interest, Mukasey and Young will continue to represent both Bankman-Fried and Mashinsky. Bankman-Fried’s former defense attorneys, Christian Everdell and Mark Cohen, who represented him during his criminal trial in October 2023, will withdraw from the case.

The former FTX CEO is set to appear before Judge Lewis Kaplan on March 28 for sentencing. Bankman-Fried’s reputation in the crypto space was once highly regarded, earning him the moniker “Golden Boy.” He stepped down as CEO of FTX in November 2022 after the firm filed for bankruptcy. Bankman-Fried was held in custody in the Bahamas until he was extradited to the United States, where he faced charges and was subsequently convicted of fraud related to the mishandling of funds between FTX and Alameda Research.

Following his trial in October 2023, Bankman-Fried was initially expected to face five additional felony charges in March. Reports in December indicated that prosecutors planned not to proceed with the second trial due to public interest considerations. Bankman-Fried’s defense team is expected to submit the recommendations for his sentencing by February 27.