In a court hearing on August 22, reports indicated that Sam Bankman-Fried, the former CEO and founder of the collapsed cryptocurrency exchange FTX, pled not guilty to fraud and money laundering charges.
A revised indictment against Sam “SBF” Bankman-Fried, the ex-CEO and co-founder of cryptocurrency exchange FTX, includes allegations of fraud and money laundering, to which Bankman-Fried has reportedly pled not guilty.
Sarah Netburn, a Magistrate Judge, presided over the most recent court hearings involving SBF. The ex-CEO of FTX faces seven charges of fraud and money laundering and one count of campaign finance violations. Bankman-Fried has entered a not-guilty plea on all charges.
Even though SBF takes Adderall and eats a vegan diet, his counselor is worried since he hasn’t gotten his medicine in 11 days. The legal processes also included a request from SBF’s attorneys that their client adopt a vegan diet.
Counsel also raised Sixth Amendment issues, arguing their client had been on remand since August 11 without any opportunity to prepare for trial. And the lawyer said, “Only fiction as a solution.”
On August 22, Bankman-Fried answered charges that she misused client cash for personal expenses and political contributions at a court hearing for the Southern District of New York. While the original allegations of fraud and money laundering date back to December, other charges related to campaign funding were introduced by prosecutors only this month.
Bankman-Fried’s bail was revoked, and SBF left the New York courthouse in handcuffs during the most recent sessions in the FTX litigation.
Bankman-Fried asked the judge earlier in the week for permission to spend five weekdays out of custody preparing his case. A federal court presiding over SBF’s criminal case granted an order enabling him to spend almost seven hours outside of prison meeting with his legal team.
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