Sam Bankman-Fried enters not guilty plea for all counts in federal court

1 year ago 113

The erstwhile FTX CEO faces 8 transgression counts successful the United States which could effect successful 115 years successful situation should helium beryllium convicted.

301 Total views

3 Total shares

Sam Bankman-Fried enters not blameworthy  plea for each  counts successful  national  court

Ho-ho-ho! Get Limited Holiday Trait!

Collect this nonfiction arsenic an NFT

Former FTX main enforcement serviceman Sam Bankman-Fried has pled not blameworthy to each transgression charges he’s facing related to the illness of the crypto speech including ligament fraud, securities fraud, and violations of run concern laws. 

Multiple observers successful the United States District Court successful the Southern District of New York connected Jan. 3 reported that Bankman-Fried’s attorneys had entered a not blameworthy plea connected SBF’s behalf successful his archetypal tribunal quality since December. Bankman-Fried faces 8 transgression counts which could effect successful 115 years successful situation should helium beryllium convicted.

Assistant U.S. Attorney Danielle Sassoon, 1 of the prosecutors successful the lawsuit against the erstwhile FTX executive, reportedly said her squad intended to supply SBF’s lawyers with documents of grounds wrong the adjacent 2 weeks. The erstwhile FTX CEO had been nether location apprehension astatine his parent’s location successful California since Dec. 22, but returned to New York for the plea hearing. Reuters reported Sassoon was anticipating a four-week agelong proceedings starting successful September oregon October.

Sam Bankman-Fried has arrived successful tribunal for his arraignment. We’re told helium volition plead not blameworthy to each the charges against him.

— Connell McShane (@connellmcshane) January 3, 2023

At the aforesaid hearing, Judge Lewis Kaplan granted a petition from SBF’s ineligible squad to redact identifying information connected individuals acting arsenic sureties for his $250-million bond. Bankman-Fried’s parents person reportedly been “the people of aggravated media scrutiny, harassment, and threats” since posting his bail successful December.

Related: Sam Bankman-Fried’s Alameda Research troubles predate FTX: Report

Prosecutors' lawsuit against SBF hinges connected allegations that Bankman-Fried and different FTX executives utilized assets from the crypto speech to money investments done Alameda Research without the consent oregon cognition of users oregon investors. The speech filed for bankruptcy connected Nov. 11.

FTX co-founder Gary Wang and erstwhile Alameda CEO Caroline Ellison person already pled blameworthy to related charges, with the latter claiming FTX was a “borrowing facility” for Alameda from 2019 to 2022. John Ray took implicit arsenic CEO of FTX amid bankruptcy proceedings and also spoke to lawmakers successful a December proceeding exploring the illness of the firm.

Read Entire Article