SBF’s Plea in FTX Fraud Case to Occur Subsequent Week: Report

Former FTX CEO Sam Bankman-Fried, in any other case often known as SBF, will enter a plea on January 3, 2023, relating to the felony fees filed in opposition to him within the aftermath of the FTX collapse.

The most recent growth comes shortly after the previous crypto boss was launched on bail following his arrest and extradition to the US.

  • Based on Reuters on Wednesday (December 28, 2022), SBF will probably be arraigned earlier than Manhattan federal courtroom on January 3, 2023.
  • As beforehand reported by CryptoPotato, Bankman-Fried was arrested by Bahamian Authorities on December 12 and was later extradited to the US.
  • The previous FTX boss is going through a number of fees from US federal regulators, with prosecutors additionally slamming eight felony fees in opposition to SBF.
  • Whereas Bankman-Fried is but to plead responsible to any of the fees, his associates, FTX co-founder Gary Wang and former Alameda Analysis CEO Caroline Ellison, pleaded responsible to crimes reminiscent of securities fraud and cash laundering.
  • SBF was not too long ago granted a $250 million bail and can stay together with his dad and mom in Palo Alto, California whereas sporting an digital monitoring bracelet.
  • Recall that FTX filed for chapter in the course of October, shortly after SBF assured that the corporate is doing simply superb and had no solvency points. Since then, reviews proceed to emerge, shedding extra mild on the fraudulent schemes the FTX and Alameda execs have been operating for years.

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