FTX founder Sam Bankman-Fried pleaded not guilty in Manhattan federal court Tuesday to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform as a judge set a tentative trial date for October
FTX’s Sam Bankman-Fried Pleads Not Guilty to Fraud as Judge Sets Tentative Trial DateFatih Aktas—Anadolu Agency/Getty ImagesNEW YORK — .of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm.Bankman-Fried’s attorney, Mark Cohen, announced his client’s plea, saying: “He pleads not guilty to all counts.
The judge also added to Bankman-Fried’s bail conditions by banning him from accessing or transferring cryptocurrency or assets of FTX or Alameda Research or any assets purchased with funds from the companies. Sassoon, noting FTX was the second largest cryptocurrency exchange, also told the judge that the government hoped to create a website for victims of the fraud, rather than notify them individually since they might number over one million.Prior to Bankman-Fried’s appearance, his lawyers sent a letter to the judge, saying Bankman-Fried’s parents — both Stanford Law School professors, in recent weeks have become the target of “intense media scrutiny, harassment, and threats.
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