FTX founder Sam Bankman-Fried (SBF) on January 3 pleaded not guilty in Manhattan federal court (USA) to all criminal charges of misleading investors, causing billions of dollars in damages.
According to Reuters, the SBF filed a defense through its attorney on eight counts before Judge Lewis Kaplan in Manhattan federal court in the US. The former CEO of the FTX cryptocurrency exchange is accused of fraud, conspiracy to launder money, illegally transferring huge amounts of customer money from FTX to buy real estate, and donating money to other businesses. politician and made risky trades at his own hedge fund Alameda Research. The 30-year-old former billionaire could face up to 115 years in prison if convicted.
“He pleaded not guilty to all charges,” said SBF attorney Mark Cohen.
After accepting the defense, Mr. Kaplan discussed with his attorneys the schedule for the trial and set a scheduled hearing date of October 2, saying he could advance or delay the trial by a day or two. . Mr. Kaplan also decided that the defense petition and the prosecutor’s response would be due in April 2023. Federal prosecutor Danielle Sassoon estimated the trial could take four weeks and said the government would soon turn over hundreds of thousands of documents to defense attorneys.
Before SBF appeared, his lawyers sent a letter to the judge, saying that SBF’s parents had in recent weeks been the target of “extreme media scrutiny and harassment.” harassment, threats, including wanting them to be physically harmed”. The other two signatories to the SBF bail could face similar harassment, so the lawyers asked for their names to be removed from the court documents.
It is known that two key SBF associates, Carolyn Ellison, who runs Alameda Research, and Gary Wang, co-founder of FTX, have pleaded guilty to fraud and are cooperating with prosecutors to obtain leniency. Both are currently out on bail.
Just before the SBF was charged, US attorney Damian Williams announced he would be forming a task force consisting of senior prosecutors in his office to investigate and prosecute matters related to the collapse. of the FTX. He said the task force would also work to track down and recover victims’ assets.
