Former FTX CEO Sam Bankman-Fried has pleaded not guilty to the charges against him. Now we know more about the date of the trial and the new bail conditions that regulate the man.
Sam Bankman-Fried pleads not guilty
Sam Bankman-Fried’s decision comes as no surprise, it was announced a few days ago. The former FTX CEO appeared in federal district court in New York yesterday, one of his few public appearances after his much-discussed bail. Accompanied by his two lawyers, he pleaded not guilty before the judge in charge of the caseLewis Kaplan.
The latter has also faded a tentative date for Sam Bankman-Fried’s trial, to 2 October. The decision of the latter involves a long process of research and a process that should be particularly long. It is estimated that it could last at least four weeks, given the numerous documents and evidence to be examined, as well as the various charges.
Sam Bankman-Fried will have to answer on 8 points money laundering, conspiracy to commit electronic fraud and in particular stock exchange fraud.
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New conditions for parole
Sam Bankman-Fried was released on bail for the sum of 250 million dollars, paid in particular by two unknown persons. It was the largest bond ever requested in the United States. The maneuver obviously raised a few eyebrows and raised fears that “SBF” was using his freedom. to continue accessing certain accounts.
This is why Judge Lewis Kaplan yesterday asked Sam Bankman-Fried to keep his interim release only on the condition not have access to accounts linked to FTX and Alameda Research. As a reminder, several suspicious wire transfers to addresses linked to the latter had been detected last week. The former CEO of FTX had denied being behind these transactions.
But that wasn’t enough to appease prosecutors, including Danielle Sassoon, who reiterated her fears yesterday:
“We fear that for a few days, other assets do not become inaccessible.»
Sam Bankman-Fried he will therefore remain free pending trial in October. At the same time, we note that the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTS) have also both initiated legal proceedings against the former FTX CEO.
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Source: Bloomberg – Image: FTX
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Cryptoast reporter, I fell into the cryptocurrency pot a few years ago. I am passionate about the innovative technologies that come with the blockchain and I like to find the most crunchy information to share with you.
Marine Debelloir
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