FTX ex-CEO Sam Bankman-Fried likely to enter a plea on January 3, 2022


FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

Sam Bankman-Fried is expected to enter a plea on January 3, 2022,  to criminal charges, including conspiracy to commit money laundering and conspiracy to commit fraud on customers and lenders.

FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

The trial for the FTX founder is scheduled to begin on the afternoon of January 3, in Manhattan federal court, before U.S. District Judge Lewis Kaplan.

FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

According to prosecutors, Bankman-Fried used customer deposits to fund his Alameda Research hedge fund firm, purchase real estate, and make political contributions for years.  In addition, SBF borrowed $546M from Alameda to fund the purchase of Robinhood shares, according to an affidavit filed in the Antigua and Barbuda High Court on Dec. 12.

FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

While two of his associates, former Alameda CEO Caroline Ellison and former FTX CTO Gary Wang, have pleaded guilty to their role in the company’s collapse, the FTX founder has yet to do so.

FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

Bankman-Fried was released on a record $250 million bail bond on Dec. 22 after he was extradited from the Bahamas. He was ordered to stay with his parents in Palo Alto, under electronic monitoring.

FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

Journalist at CryptoSlate

FTX Ex-CEO Sam Bankman-Fried Likely To Enter A Plea On January 3, 2022

Soumen is a dedicated researcher and writer in the field of cryptocurrencies, DeFi, NFTs, and GameFi projects.

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