Disgraced FTX founder SBF pleads not guilty

Reports today allege that FTX founder and former CEO Sam Bankman-Fried has pleaded not guilty to a range of charges. The former CEO is facing criminal charges, including money laundering and wire fraud.

Bankman-Fried plead not guilty

The first plea hearing took place in a US District Court in Manhattan. One of the main allegations made by the SEC is that Sam Bankman Fried illegally invested his clients’ funds in the hedge fund, Alameda Research. Alameda Research was founded by Sam Bankman-Fried and reportedly operated by his girlfriend.

In addition, he allegedly used some of the client’s money to donate to political campaigns and buy assets, leading to a severe liquidity crisis that flared up spectacularly in early November.

However, former CEO plead not guilty earlier today for all the charges against him. After his plea, the courts set the trial date for October 2, 2023. According to reports, Sam Bankman Fried could face more than 100 years in prison if convicted and convicted.

despite arrest in Bahamas and extradited to the United States, Sam Bankman-Fried has never actually admitted to any crime.

In fact, earlier reports alleged that he had no plans to blame, Earlier in the day, reports emerged that “Sam Bankman-Fried requested the court to keep his Bond Guarantor Private.This was to protect him from harassment and media scrutiny.

State Attorney Announces SDNY FTX Task Force

Amidst court proceedings, incoming reports allege US State Attorney Darmion Williams has been acquitted set up a workforce Charged with investigating and prosecuting the collapse of FTX and helping to recover the funds of former FTX network customers.

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