Sam Bankman-Fried, also known as SBF, the former CEO and co-founder of cryptocurrency exchange FTX, has entered a plea of not guilty to fraud and money laundering charges brought against him in an updated indictment by prosecutors, according to reports.
The proceedings took place in front of Magistrate Judge Sarah Netburn, where Bankman-Fried was charged with seven counts of fraud and money laundering, as well as an additional charge of campaign finance. He pleaded not guilty to all charges.
During the court session, Bankman-Fried’s lawyers raised concerns about his medical needs, stating that he has not received his medication for the past 11 days. They also requested a vegan diet for their client.
Bankman-Fried appeared in court on August 22 in the Southern District of New York, facing allegations of misusing customer funds for personal use and political donations. The fraud and money laundering charges date back to December, with campaign finance charges being added earlier this month.
This development comes after Bankman-Fried’s bail was revoked, and he was led out of the New York courtroom in handcuffs.
The former FTX CEO had previously requested permission to work with his legal team outside of detention for five weekdays, but a federal judge granted him approximately seven hours to meet his lawyers outside of jail.
This is an ongoing story, and further updates will be provided as they become available.
1. What charges has Sam Bankman-Fried pleaded not guilty to?
Sam Bankman-Fried has pleaded not guilty to charges of fraud, money laundering, and campaign finance.
2. What concerns were raised about Bankman-Fried’s medical needs?
During the court proceedings, Bankman-Fried’s lawyers expressed concerns about his medical needs, specifically mentioning his medication (Adderall) that he had not received for the past 11 days.
3. Why was Bankman-Fried’s bail revoked?
Bankman-Fried’s bail was revoked, and he was taken into custody, although the reason for this is not specified in the article.
4. What was the outcome of Bankman-Fried’s request to work with his legal team outside of detention?
A federal judge allowed Bankman-Fried to meet with his legal team outside of jail for approximately seven hours, granting only a partial approval of his request to work with them for five weekdays.
5. What is the ongoing status of this case?
The case against Sam Bankman-Fried is still ongoing, and updates will be provided as more information becomes available.
Former FTX CEO Sam Bankman-Fried has pleaded not guilty to charges of fraud, money laundering, and campaign finance. The plea was made during court proceedings where Bankman-Fried’s lawyers also raised concerns about his medical needs. Bankman-Fried is accused of misusing customer funds for personal use and political donations. The case is still ongoing, with updates to follow.