Sam Bankman Fried, the former CEO and co-founder of FTX crypto exchange, 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 plead 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— Inner City Press (@innercitypress) August 22, 2023
The cousel for SBF also raised issues pertaining his medical issues. The counsel notified that SBF takes Adderall and follows a vegan diet, but He had not received his Adderall in the last 11 days. The court proceedings also saw SBF lawyers request for a vegan diet for their client.
The SBF’s counsel also cited Sixth Amendment issues. citing their client cannot prepare for trial as he is under remansd 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 campaig finance earlier this month.
The latest proceedings in the FTX lawsuit come after Bankman Fried’s bail was revoked and the FTX founder left the New York courtroom in handcuffs.
Earlier in the week, Bankman Fried requested court to grant him permission to spend five weekdays outside the lockup to work with his legal team on his defence. However, a federal judge overseeing SBF’s criminal case has issued an order allowing SBF to meet with his legal team outside of jail for roughly seven hours
This is a developing story, and further information will be added as it becomes available.
