Former head of FTX crypto exchange pleads not guilty in court

FTX founder Sam Bankman-Fried has pleaded not guilty in a federal court in New York. This was announced on January 3 by the TV channel CNN.

Bankman-Fried’s lawyer said in court that his client pleaded not guilty to any of the eight counts. Judge Lewis Kaplan set the start date for the trial on the merits of October 2.

Bankman-Fried is accused of conspiracy, money laundering and violating campaign finance. According to the New York prosecutor’s office, the founder of FTX donated money to both parties in order to influence decisions made in Washington.

As noted by CNN, if Bankman-Fried is found guilty, he would face a prison sentence of up to 115 years.

Earlier, on December 21, Bankman-Freed was brought to the United States from the Bahamas on an extradition request.

Meanwhile, on December 27, the US Department of Justice opened another criminal case on the FTX cryptocurrency exchange. According to investigators, a few hours after the platform was declared bankrupt, $370 million was illegally withdrawn from it. It is noted that the investigation is not related to the Bankman-Freed fraud case.

Cryptocurrency exchange FTX filed for bankruptcy on November 11. At the same time, it became known that Bankman-Fried had resigned as CEO.

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