Prosecutors accuse him of stealing billions of dollars in customer funds from FTX and defrauding investors and lenders to his trading firm, Alameda Research
Former FTX chief executive Sam Bankman-Fried leaves Manhattan federal court, New York, January 3, 2023. - Bankman-Fried pleaded not guilty Tuesday to US criminal fraud charges over the spectacular collapse of his crypto exchange.
Photo by TIMOTHY A. CLARY / AFP
On January 3, FTX founder Sam Bankman-Fried pleaded not guilty in a court of law to fraud and other criminal charges against him. Bankman-Fried has denied charges that he illegally diverted large sums of money from FTX to make lavish real estate purchases, donate money to politicians, and engage in risky trades at Alameda Research, his crypto hedge fund trading firm.
The 30-year-old entrepreneur was arraigned in federal court in Manhattan on Tuesday, surrounded by attorneys and his mother, Barbara Fried, who sat behind him. Attorney Mark Cohen entered a not-guilty plea on all counts. Bankman-Fried will appear before U.S. District Judge Lewis Kaplan in Manhattan at 2 p.m. EST (1900 GMT).