Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has pleaded not guilty to charges of fraud and money laundering, according to a report. The latest court proceedings against Bankman-Fried were presided over by Magistrate Judge Sarah Netburn. He has been charged with seven counts of fraud and money laundering, as well as one charge related to campaign finance. Bankman-Fried pleaded not guilty to all counts.
During the court proceedings, Bankman-Fried’s counsel raised concerns about his medical needs. It was revealed that Bankman-Fried takes Adderall and follows a vegan diet, but has not received his medication for the past 11 days. As a result, his lawyers requested a vegan diet for their client. Additionally, the counsel cited concerns regarding Bankman-Fried’s ability to prepare for trial, as he has been under remand since August 11. They expressed frustration with the lack of suitable solutions provided by the authorities.
The charges against Bankman-Fried include allegations of misusing customer funds for personal use and political donations. The fraud and money laundering charges date back to December, but prosecutors recently added campaign finance charges. These latest developments in the FTX lawsuit come after Bankman-Fried’s bail was revoked, and he left the New York courtroom in handcuffs.
Earlier in the week, Bankman-Fried had requested permission from the court to spend five weekdays outside of detention to work with his legal team on his defense. However, the federal judge overseeing his criminal case only granted him approximately seven hours to meet with his lawyers outside of jail.
This is an ongoing story, and more information will be provided as it becomes available.
In conclusion, former FTX CEO Sam Bankman-Fried has pleaded not guilty to charges of fraud and money laundering. The court proceedings also revealed concerns about his medical needs and his ability to prepare for trial. As this case continues to unfold, further updates will be provided.
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