FTX Co-Founder Sam Bankman-Fried Pleads Not Guilty to Fraud, Campaign Finance Charges

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Sam Bankman-Fried pleaded not guilty to all eight charges against him — including fraud and violating campaign finance law — in connection to the collapse of his cryptocurrency exchange FTX.

Bankman-Fried is charged with of conspiracy to commit wire fraud, securities fraud, money laundering, and violations of campaign finance law. The 30-year-old allegedly defrauded millions of investors through FTXschemes, including using customer investments in the amount of $8 million to fund side investments and pay off debts.

The initial unsealed indictment also alleged that Bankman-Fried and his associates violated campaign finance laws by making straw donations to Democratic political candidates for federal office, joint fundraising committees, and independent expenditure committees using different names. In mid-December, Caroline Ellison, CEO of the privately-controlled hedge fund Alameda Research, which is owned by Bankman-Fried,to criminal charges of conspiracy to commit wire fraud on customers of FTX, wire fraud on customers of FTX, conspiracy to commit wire fraud on lenders of Alameda Research and wire fraud on lenders of Alameda Research, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering.

FTX co-founder Gary Wang pleaded guilty to conspiracy to commit wire fraud on customers of FTX, wire fraud on customers of FTX, conspiracy to commit commodities fraud and conspiracy to commit securities fraud. He faces a maximum of 50 years in prison if convicted.

 

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He destroyed lives.

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FTX founder Sam Bankman-Fried to appear in court Tuesday | CNN BusinessSam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, is set to appear in person in a Manhattan federal court on Tuesday to face charges that include cheating investors out of billions of dollars. Is he really ‘disgraced’ in every interview he’s sounded arrogant and avoided responsibility Like all people I was born free from sin and crime, why did the environment and people attack me like most people, forcing them to sin and be criminals? We can and have a right to defend ourselves against this! Even with protective services! The death sentences for MohammadMehdiKarami & MohammadHosseini are affirmed in the Islamic Republic’s “Supreme Court” from the case for protests on Hadis Najafi’s 40th day in Karaj. These two’s precious lives are extremely in danger.
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