Sam “SBF” Bankman-Fried, the former CEO and co-founder of cryptocurrency exchange FTX, has pleaded not guilty to the fraud and money laundering charges in prosecutors’ latest indictment, according to a report.
Magistrate Sarah Netburn heard the latest court proceedings against SBF. The former FTX CEO was charged with seven counts of fraud and money laundering, as well as an additional campaign finance charge. Bankman-Fried has pleaded not guilty to all counts.
JUDGE NETBORNE: You were charged with seven counts (the 8th campaign finance charge disappeared) how did you defend?
Bankman-Fried: Not guilty.
AUSA: We want to rule out the time before the October 3rd trial.
SBF’s Mark Cohen: We’d like to bring up two topics on MDC— Inner City Press (@innercitypress) August 22, 2023
SBF’s attorney also raised concerns about his medical needs and said SBF takes Adderall and follows a vegan diet but has not received medication in the past 11 days. During the court proceedings, SBF’s lawyers also asked their clients to follow a vegan diet.
The attorneys also cited Sixth Amendment concerns that their client could not be ready for trial because he has been on remand since Aug. 11. The lawyer further pointed out that what they got was “just a fictitious solution”.
Bankman-Fried appeared in New York Southern District Court on Aug. 22 to face charges of misusing client funds for personal use and political donations. The fraud and money laundering charges began in December; however, prosecutors added additional campaign finance charges earlier this month.
The latest in the FTX lawsuit comes after Bankman-Fried’s bail was revoked and SBF left the New York courtroom in handcuffs.
Earlier this week, Bankman-Fried asked the court to allow him to spend five working days out of custody to defend him with his legal team. However, a federal judge in charge of SBF’s criminal case issued an order allowing him to meet with the legal team outside the prison. About seven hours.
This is a developing story and more information will be added as it becomes available.
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