The judge imposed a new bail condition, saying Bankman-Fried cannot access FTX or Alameda assets
has denied cheating cheated investors and looting customer deposits from his cryptocurrency trading platform.
Bankman-Fried, 30, is accused of running a “series of interrelated fraud schemes” to divert massive sums of customer money from FTX to make lavish property purchases,He appeared in Manhattan federal court on Tuesday to enter an initial plea. Speaking on his behalf, his lawyer Mark Cohen said: “He pleads not guilty to all counts.”
Afterwards, Judge Lewis A Kaplan set a tentative trial date of Monday 2 October, when the court will hear charges of wire fraud, commodities fraud, securities fraud, money laundering, and campaign finance law violations. A federal prosecutor, Danielle Sassoon, estimated that a trial could take four weeks, and said the government will soon turn over hundreds of thousands of documents of evidence to defence lawyers.
The Massachusetts Institute of Technology graduate could face a prison sentence of up to 115 years if convicted on all charges.
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