If convicted, the founder and former CEO of collapsed cryptocurrency exchange FTX faces 115 years in prison.
Sam Bankman-Fried, the founder and former CEO of collapsed cryptocurrency exchange FTX, appeared in a federal court in Manhattan on Tuesday afternoon and pleaded not guilty to eight counts of defrauding customers, laundering money, and violating campaign finance laws. If convicted, he faces up to 115 years in prison.
An unsealed indictment said that the crypto entrepreneur “knowingly devised” a scheme to defraud his customers. A US attorneyat a press conference that FTX was “one of the biggest financial frauds in US history” and that Bankman-Fried used the allegedly stolen money “for his personal benefit.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX crypto CEO Sam Bankman-Fried expected to plead not guilty in Manhattan federal court TuesdayDisgraced crypto executive Sam Bankman-Fried is likely to plead not guilty to an eight-count fraud and conspiracy indictment when he appears in Manhattan federal court Tuesday, a person familiar with the matter told ABC News.
Read more »
Rescuers race to save boy who fell into 115-foot shaft in VietnamHundreds of rescuers in Vietnam battled Monday to free a 10-year-old boy who fell into a 115-foot-deep hole at a construction site two days ago.
Read more »
Vietnam rescuers race to save boy trapped down 115-foot concrete hole since New Year's EveHundreds of rescuers — now with federal support — worked again Monday to try to save a 10-year-old boy who fell down a narrow concrete shaft at a construction site on New Year's Eve.
Read more »
Sam Bankman-Fried’s Alameda Research troubles predate FTX: ReportSBF had claimed that the operations of FTX and Alameda were independent, but the recent lawsuit has revealed that both firms worked in conjecture from day one.
Read more »
FTX founder Sam Bankman-Fried to plead not guilty at scheduled New York City arraignment: reportsSam Bankman-Fried, at his arraignment in U.S. District Court in Manhattan Tuesday, will likely plead not guilty to fraud, money laundering and other charges over FTX's collapse.
Read more »
FTX founder Sam Bankman-Fried set to plead not guilty to fraud charges, report saysLegal experts expect a prolonged court battle in Sam Bankman-Fried's case, during which prosecutors will have to prove he intentionally swindled FTX customers out of their crypto assets.
Read more »