Former FTX CEO Sam Bankman-Fried Pleads Not Guilty to Fraud and Money Laundering Charges
Summary:
Former FTX CEO, Sam Bankman-Fried, pleads not guilty to fraud and money laundering charges in a court hearing presided over by Magistrate Judge Sarah Netburn. Concerns are raised about the defendant's medical needs and access to medication, as well as the ability to prepare for trial. Bankman-Fried is accused of misusing customer funds and making political donations. His bail has been revoked and he appeared in court in handcuffs. Further updates to follow.
Former FTX CEO and co-founder, Sam "SBF" Bankman-Fried, has entered a plea of not guilty to charges of fraud and money laundering according to a report. The updated indictment includes seven counts of fraud and money laundering, as well as an additional charge of campaign finance. Bankman-Fried pleaded not guilty to all counts. The court proceedings, presided over by Magistrate Judge Sarah Netburn, also addressed concerns raised by SBF's counsel regarding his medical needs and requested a vegan diet for their client. The defense also expressed concerns about their ability to prepare for trial due to SBF being under remand since August 11 and having limited access to solutions for their concerns. Bankman-Fried appeared in court on August 22, facing accusations of misusing customer funds and making political donations. These charges were added to the earlier fraud and money laundering charges from December. SBF's bail was revoked and he left the New York courtroom in handcuffs. Earlier in the week, Bankman-Fried had requested permission to spend weekdays outside of detention to work with his legal team, which was partially granted by a federal judge allowing him roughly seven hours outside of jail to meet with his legal team. This is an ongoing story and further updates will be provided as they become available. Collect this article as an NFT to show support for independent journalism in the crypto space.
Published At
8/22/2023 1:57:16 PM
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