Fraud and Money Laundering Charges Against SBF
Sam “SBF” Bankman-Fried, the former CEO and co-founder of crypto exchange FTX, has been accused of fraud and money laundering, according to an updated indictment by prosecutors. At the latest court proceedings against SBF, which were heard by Magistrate Judge Sarah Netburn, Bankman-Fried pleaded not guilty on seven counts of fraud and money laundering, as well as an additional charge of campaign finance.
In addition, SBF’s counsel raised concerns regarding the former FTX CEO’s medical needs, stating that SBF takes Adderall and follows a vegan diet but has not received his medication in the last 11 days. The counsel also requested a vegan diet for their client. Moreover, they expressed Sixth Amendment concerns, claiming that their client cannot prepare for trial, as he has been under remand since Aug. 11.
The latest developments in the fraud and money laundering charges against SBF have drawn attention from the AI and machine learning community, as well as from those interested in the latest C3.ai stock and Fetch.ai news. Additionally, the article writer AI community has been following this case closely.
The Latest Developments in Bankman-Fried’s Case
On Aug. 22, Bankman-Fried appeared in the Southern District of New York courthouse to face allegations of misappropriating customer funds for personal and political donations. The fraud and money laundering charges from December were supplemented with additional campaign finance charges just this month.
The recent proceedings in the FTX lawsuit followed the revocation of Bankman-Fried’s bail, resulting in his removal from the courtroom in handcuffs. Earlier in the week, Bankman-Fried had requested permission from the court to spend five weekdays out of detention to work with his legal team on his defense. However, the federal judge overseeing SBF’s criminal case only authorized him to meet with his legal team outside of jail for approximately seven hours.
Collect this article as an NFT to immortalize this moment in history and demonstrate your support for independent journalism in the crypto space.
Subscribe to our email newsletter to get the latest posts delivered right to your email.
Comments