Sam Bankman-Fried’s bid to reverse his fraud conviction and 25-year prison sentence ran into a trio of appeals court judges who appeared skeptical of arguments that he didn’t get a fair trial.

Bankman-Fried’s legal team argued that the trial judge wrongly stopped them from telling jurors that there was plenty of money to repay investors despite the collapse of his crypto currency exchange in 2022 or that he relied on the advice of lawyers. Decisions by US District Judge Lewis Kaplan sharply limited their ability to counter prosecution arguments on those topics, his lawyers said.

“The defense was cut off at the knees by the judge’s rulings,” Bankman-Fried’s lawyer, Alexandra Shapiro, said at the hearing at the 2nd US Circuit Court of Appeals in New York Tuesday.

A jury in Manhattan found Bankman-Fried, 33, guilty in 2023 of seven criminal counts including fraud and conspiracy at his popular cryptocurrency exchange. The trial was closely watched by the industry and by the broader public, making him the perceived face of greed and mismanagement in the market for digital currencies.

But the three-judge panel appeared skeptical in their questioning of Shapiro, including when she implored them to “look at the full picture” of the appeal.

“I am trying really hard to,” Judge Barrington Parker Jr. said. “It almost seems like you’re spending more ink on Judge Kaplan than on the merits.”

Bankman-Fried, who’s serving his sentence in California, didn’t attend the hearing. His parents, Joe Bankman and Barbara Fried, watched the argument in a nearly full Manhattan courtroom. They declined to discuss the case afterward.

The government claimed Bankman-Fried siphoned billions of dollars from FTX customers to the exchange’s sister hedge fund, Alameda Research, using the money for speculative investments, political donations and expensive real estate. Jurors found him guilty in less than five hours of deliberations, despite watching him take the stand in his own defense and testify that he never intended to defraud anyone.

Shapiro, who represents Bankman-Fried in his bid to undo his conviction, is a top criminal appeals lawyer who has won reversals this year for three executives convicted of white-collar crimes. She notched her most recent win on behalf of Iconix Brand Group Inc. founder Neil Cole, who was cleared by the 2nd Circuit last week after his conviction on charges he inflated the apparel licenser’s earnings and misled investors.

Shapiro is also working on appeals for music producer Sean “Diddy” Combs, Bill Hwang of Archegos Capital Management and Charlie Javice, who was convicted of defrauding JPMorgan Chase & Co in the sale of her online student-finance site.

In their appellate briefs, Bankman-Fried’s lawyers focused on Kaplan, 80, who has been a federal court judge since 1994. They accused the judge of “repeatedly putting a thumb on the scale to help the government and thwart the defense.” They’re asking for a new trial with a different judge.

Bankman-Fried’s team argued that the judge pressured jurors into a quick verdict by suggesting they could stay late on the first day of deliberations, offering them free dinner and a car service home. His lawyers said the judge “continually ridiculed Bankman-Fried.”

At one point, Kaplan called Bankman-Fried’s testimony — that he didn’t run Alameda after stepping down as the hedge fund’s CEO — “a joke,” they said.

Witnesses against Bankman-Fried included three former close FTX friends and executives: his co-founder Gary Wang, engineering chief Nishad Singh and Caroline Ellison, Alameda CEO and Bankman-Fried’s sometime girlfriend. All three pleaded guilty to felony charges and took the stand to testify against Bankman-Fried in hopes of leniency.

Wang and Singh avoided prison, while Ellison was sentenced to two years.

Ellison’s testimony was particularly devastating. She described in detail how she worked with Bankman-Fried to deceive lenders and customers and their failed attempts to stop FTX’s slide into bankruptcy. Ellison walked jurors through the seven “alternative balance sheets” she said she prepared at Bankman-Fried’s direction to hide that $10 billion had been borrowed from FTX customers and $5 billion loaned to FTX executives and affiliated entities.

Separate from the appeal, Bankman-Fried’s parents have been exploring ways to secure a pardon from President Donald Trump, a person familiar with the matter said earlier this year. In March, Bankman-Fried appeared on former Fox News host Tucker Carlson’s podcast, bashing former President Joe Biden and ex-Securities and Exchange Commission Chair Gary Gensler.

On Tuesday, Shapiro argued that Kaplan wrongly blocked Bankman-Fried from telling the jury that FTX had enough assets to repay exchange customers. But prosecutors were allowed to claim Bankman-Fried had stolen billions of dollars, forcing FTX into bankruptcy and causing billions in losses.

‘Seriously?’

But again, the judges pushed back.

“Are you seriously suggesting to us that if your client had been able to testify about the role that attorneys played in creating these various documents, the not guiltys would have rolled in?” Parker asked.

In addition to the prison time, Kaplan ordered Bankman-Fried to pay back $11 billion. The forfeiture was the focus of most of the questions the panel asked Assistant US Attorney Nathan Rehn, representing the government.

The judges asked whether Bankman-Fried would still have a forfeiture obligation even if his victims were fully compensated through bankruptcy court proceedings.

“This is an important issue to us, so you have to stop bobbing and weaving,” Parker told Rehn.

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