FTX founder Sam Bankman-Fried has pleaded not guilty in Manhattan federal court to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform.
of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm.
Bankman-Fried’s attorney, Mark Cohen, announced his client’s plea, saying: “He pleads not guilty to all counts.” Wearing a backpack, Bankman-Fried marched through a crush of cameras as he entered the courthouse on a rainy day to make his first appearance before Judge Lewis A. Kaplan. Besides taking a plea during the arraignment, Kaplan was expected to discuss with lawyers a schedule for proceeding toward a trial.
Prior to his appearance, his lawyers sent a letter to the judge, saying Bankman-Fried’s parents in recent weeks have become the target of “intense media scrutiny, harassment, and threats, including communications expressing a desire that they suffer physical harm.”As a result, the lawyers requested that the names be redacted on court documents for the two individuals who were lined up to sign Bankman-Fried’s $250 million personal recognizance bond.
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