FTX founder Sam Bankman-Fried pleaded not guilty in Manhattan federal court on Tuesday to fraud and other charges related to the collapse of his $32 billion crypto empire, with a judge setting an October trial date as both sides prepare to sift through mountains of evidence.
to defrauding investors and agreed to cooperate with prosecutors. Williams has pointedly urged any FTX insiders with information about the company's demise to come forward.U.S. District Judge Lewis Kaplan set an Oct. 2 trial date, but it is not uncommon for the schedule to be pushed back as fresh legal issues and evidence surface.
Bankman-Fried, 30, has not given any indication that he intends to strike a plea deal, and prosecutors have not indicated they would offer one. He has apologized to FTX customers but said he does not believe he is criminally liable.The ex-mogul faces a maximum of 115 years in prison, but he is unlikely to receive such a sentence even if he is convicted on all counts.
The company's current CEO, John Ray, told members of U.S. Congress in December that efforts by FTX to recover customers' crypto assets would continue. Bankman-Fried has had no role in the company after he stepped down in November, Ray said. Reporting by Jack Queen in New York Additional reporting by Dietrich Knauth in New York Editing by Noeleen Walder and Matthew Lewis
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