FTX’s Sam Bankman-Fried pleads not guilty to fraud charges: Report
Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has pleaded not guilty to fraud and money laundering charges levied in an updated indictment by prosecutors, according to a report.
The latest court proceedings against SBF were heard by Magistrate Judge Sarah Netburn. The former FTX CEO was charged with seven counts of fraud and money laundering along with an additional charge of campaign finance. Bankman-Fried pleaded not guilty on all counts.
Judge Netburn: You are charged in seven counts [Count 8, campaign finance charges, is gone] How do you plead?
Bankman-Fried: Not guilty.
AUSA: We'd like to exclude time until the trial, October 3.
Mark Cohen for SBF: We'd like to raise two topics regarding the MDC
The counsel for SBF also raised issues pertaining to his medical issues, sharing that SBF takes Adderall and follows a vegan diet but had not received his medication in the last 11 days. The court proceedings also saw SBF’s lawyers request a vegan diet for their client.
SBF’s counsel also cited Sixth Amendment issues, saying their client cannot prepare for trial, as he has been under remand since Aug, 11. The counsel noted further that they have been offered only fictions as solutions.
Bankman-Fried appeared in the Southern District of New York courthouse on Aug. 22, facing accusations of misusing customer funds for personal use as well as for political donations. The charges of fraud and money laundering are from December; however, prosecutors added additional charges of campaign finance earlier this month.
The latest proceedings in the FTX lawsuit come after Bankman-Fried’s bail was revoked, leaving the New York courtroom in handcuffs.
Earlier in the week, Bankman-Fried requested the court grant
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