Saturday, July 5, 2025

Latest

FTX Fraud: Sam Bankman-Fried Enters Not Guilty Plea, Trial Set For October 2023

Founder of bankrupt crypto exchanger FTX, Sam Bankman-Fried, pleaded not guilty in federal court in New York on Tuesday to allegations of fraud, conspiracy, campaign finance law violations, and money laundering.

This contrasts to former Alameda Research CEO Caroline Ellison and former FTX CTO Zixiao (Gary) Wang pleading guilty for their roles in a multiyear scheme to defraud investors in FTX. The two top executives of the defunct exchange are reportedly working with the authorities to put up their case against Bankman-Fried.

READ: Caroline Ellison Pleads Guilty To FTX Fraud Scheme, Posts $250K Bail

Aside from the plea, Bankman-Fried’s legal team also requested to redact the names and other identifying information of the co-signers of his $250 million bond. The judge granted the request without prejudice.

The prosecutors also proposed a condition that Bankman-Fried be “prohibited from accessing or transferring any FTX or Alameda assets,” which the judge approved.

Numerous regulatory and law enforcement agencies, including the Securities and Exchange Commission and the Commodity Futures Trading Commission, have filed formal actions against Bankman-Fried regarding his role in FTX’s fraudulent scheme and consequent implosion to bankruptcy.

“From at least May 2019 through November 2022, Bankman-Fried engaged in a scheme to defraud equity investors in FTX Trading… at the same time that he was also defrauding the platform’s customers,” the SEC said in its complaint.

Assistant US Attorney Danielle Sassoon also said in the plea hearing that they “anticipate making a large discovery production, including from banks and political campaigns,” as well as working on procuring the custody of FTX’s Amazon Web Services database.

Considering the timelines needed to produce and peruse evidence, the court tentatively set the trial date as October 2, 2023, but said it may be moved “a day or so later or earlier.”


Information for this briefing was found via Axios and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Torex Gold Acquires Reyna Silver For CASH!

Dundee Acquires Adriatic Metals: The Balkan Growth Strategy

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

Amazon To Invest In New TV Series Featuring Collapse Of FTX

Amazon (NASDAQ: AMZN) announced last week that it will be working on a show about...

Tuesday, November 29, 2022, 03:07:00 PM

CZ Accused SBF Of Depegging Tether Stablecoin Before FTX Bankruptcy

When one person believes another can just cause the collapse of the whole industry, the...

Monday, December 12, 2022, 09:49:06 AM

Bankrupt FTX Sues Bankrupt Genesis To Recover $4 Billion It Doesn’t Have

As part of its efforts to recover value for creditors, cryptocurrency exchange FTX is attempting...

Thursday, May 4, 2023, 12:10:00 PM

FTX: Who Actually Owns The Robinhood Shares?

Details on the recent bankruptcy filing of Sam Bankman-Fried’s FTX Group continue to come out,...

Sunday, November 13, 2022, 09:00:00 AM

Sam Bankman-Fried – No. 2 Top Democrat Donor – Also Donated To Republicans “About The Same Amount”

But he kept it in the dark because “reporters will freak the f*ck out.” Next...

Wednesday, November 30, 2022, 03:51:00 PM