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Sam Bankman-Fried reportedly wants to plead not guilty

Published on

December 31, 2022
Read Time:1 Minute, 18 Second

Former FTX CEO Sam Bankman-Fried (SBF), who's presently out on $250 million bail, will reportedly plead not responsible in courtroom on Jan. 3.

SBF was arrested on the request of the US authorities on suspicion of defrauding traders and embezzling funds held on crypto trade FTX within the Bahamas. After a courtroom listening to on December 22, SBF was launched on bail and is scheduled to seem in courtroom on January 3 earlier than US District Decide Lewis Kaplan in Manhattan.

In response to Reuters, SBF is anticipated to file a pleading on the felony fees in the course of the listening to report. On Dec. 13, the SEC indicted the previous FTX CEO for violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Trade Act of 1934.

Defendants have the correct to plead not responsible in the course of the first listening to and may change their pleas in a well timed method.

Associated: Sam Bankman-Fried was discovered "chilling" within the JFK airport lounge on $250 million bail

On December 28, a motion of funds from Alameda wallets raised suspicions that SBF was concerned within the anomaly. Nonetheless, the entrepreneur rapidly distanced himself from the alleged rumours.

I am none of that. I cannot and couldn't transfer any of those funds; I not have entry to them.https://t.co/5Gkin30Ny5

— SBF (@SBF_FTX) December 30, 2022

SBF's tweet was in response to a Cointelegraph report {that a} pockets handle had obtained over 600 ether (ETH) from wallets owned by Alameda.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 31, 2022
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