FTX’s Sam Bankman-Fried Enters Plea in Federal Fraud Case
FTX founder Sam Bankman-Fried pleaded not guilty in a federal court Tuesday to charges of fraud, conspiracy, campaign finance law violations, and money laundering.
Bankman-Fried, 30, entered his plea via his lawyer before District Judge Lewis Kaplan in Manhattan federal court. During the hearing, Kaplan set a trial date for Oct. 2, 2023.
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 defense lawyers.
Bankman-Fried, also known as SBF, is accused of stealing billions of dollars in FTX customer deposits to support his Alameda Research hedge fund, buy real estate, and make millions of dollars in political contributions. He could face as many as 115 years in prison if convicted….