Former FTX CEO Sam Bankman-Fried (SBF), at the moment free on a $250 million bail bond, will reportedly plead not responsible to the alleged FTX and Alameda-related monetary frauds in court docket on Jan. 3.
SBF was arrested within the Bahamas on the request of the U.S. authorities beneath suspicion of defrauding traders and misappropriation of funds held on the FTX crypto trade. Following a court docket listening to on Dec. 22, SBF was launched on bail and is slated to seem on court docket on Jan.3 earlier than U.S. District Decide Lewis Kaplan in Manhattan.
Throughout the listening to, SBF is predicted to enter a plea of not responsible to the legal costs, based on a Reuters report. On Dec. 13, the SEC charged the previous FTX CEO with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Trade Act of 1934.
Defendants have the fitting to plead not responsible throughout preliminary court docket hearings and are allowed to alter their plea in due time.
Associated: Sam Bankman-Fried discovered ‘chilling’ in JFK airport lounge on $250M bail bond
On Dec. 28, a motion of funds from Alameda wallets raised suspicions about SBF’s involvement within the anomaly. Nonetheless, the entrepreneur was fast to distance himself from the alleged rumors.
None of those are me. I am not and could not be transferring any of these funds; I haven’t got entry to them anymore.https://t.co/5Gkin30Ny5
— SBF (@SBF_FTX) December 30, 2022
SBF’s tweet was in response to a Cointelegraph report {that a} pockets handle had obtained over 600 Ether (ETH) from wallets that belonged to Alameda.
