Former FTX chief executive Sam Bankman-Fried arrives to enter a plea before US District Judge Lewis Kaplan in the Manhattan federal court (Pictures: REX/REUTERS)
Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, pleaded not guilty to fraud charges at a hearing today.
The 30-year-old former billionaire appeared before US District Judge Lewis Kaplan at a federal court in Manhattan, where he entered a ‘not guilty’ plea for eight criminal charges.
Bankman-Fried is accused of using funds from user accounts to finance his hedge fund, Alameda Research, as well as to purchase real estate in the Bahamas and make donations to political campaigns.
Bankman-Fried could face a sentence of up to 115 years in prison if convicted on all charges.
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Bankman-Fried could face a sentence of up to 115 years in prison if convicted on all charges.
