JUDGE REJECTS NEW TRIAL FOR FTX'S SAM BANKMAN-FRIED

Judge Lewis Kaplan rejected Bankman-Fried's motion on Wednesday, stating that pursuing a new trial would squander judicial time and resources. The disgraced crypto executive was convicted in November 2023 on wire fraud, money laundering, and conspiracy charges related to the collapse of FTX. Bankman-Fried's defense argued that the Justice Department selectively prosecuted him based on his recent political affiliation. The claim centered on alleged bias after he came out as Republican amid the trial. The judge found no credible evidence supporting claims of political persecution. Bankman-Fried faces sentencing later this year and could receive decades in prison. His earlier conviction stemmed from massive fraud that cost FTX customers billions of dollars.