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Sam Bankman Fried, the previous CEO and co-founder of the FTX cryptocurrency exchange, has entered a plea of not guilty to charges of fraud and money laundering outlined in a revised indictment by prosecutors, as reported.
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Bankman Fried appeared in the Southern District of New York courthouse on August 22, confronting allegations of misappropriating customer funds for personal expenses and political contributions. While the fraud and money laundering charges date back to December, prosecutors introduced additional campaign finance charges earlier this month.
The recent developments in the FTX case follow the revocation of Bankman Fried’s bail, resulting in the FTX founder leaving the New York courtroom in handcuffs.
This is an evolving story, and more details will be provided as they emerge.
