FTX founder Sam-Bankman-Freed pleads not guilty to new criminal charges. This is reported Reuters citing own sources.
These include recent charges of conspiring to violate campaign finance laws and bribing the Chinese authorities.
The former head of the collapsed stock exchange was arrested in December 2022 in the Bahamas at the request of the US government. The prosecutor’s office charged him with eight criminal offenses.
Contrary to Reuters reports, he refused to plead guilty. This course of events was predicted by WSJ sources.
In February 2023, new charges were brought against Bankman-Fried by US authorities, including collusive bank fraud. According to Reuters, he does not plan to make a deal with the investigation on any of the points.
His trial will begin in October. Based on the totality of the alleged crimes, Bankman-Fried faces more than a hundred years in prison.
Earlier, the former head of Alameda Research, Caroline Ellison, and FTX co-founder Gary Wang pleaded guilty in connection with the collapse of the exchange. Later, their example was followed CTO collapsed stock exchange Nishad Singh.
After being extradited to the US, Bankman-Fried was released on $250 million bail.
In March, lawyers for the ex-CEO of FTX agreed with the US Attorney’s Office on new conditions for his release. The agreement must be approved by the court.
Source: Cryptocurrency
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