Sam Bankman-Fried pleads not guilty to fraud and other offenses

REUTERS
REUTERS

Summary

  • FTX founder, who has acknowledged making mistakes, faces eight criminal counts

FTX founder Sam Bankman-Fried pleaded not guilty to fraud and other criminal charges Tuesday, as a judge set his trial to begin Oct. 2.

Mr. Bankman-Fried, 30 years old, entered his not guilty plea to all eight criminal counts he faces before U.S. District Judge Lewis Kaplan in federal court in Manhattan. It was his second appearance in a U.S. court following the collapse of his cryptocurrency exchange.

Prosecutors have accused him of stealing billions of dollars of customer funds from FTX and of defrauding investors and lenders to his trading firm, Alameda Research. He also evaded campaign-finance contribution limits and reporting requirements when he made millions of dollars in illegal political contributions funded by Alameda, prosecutors said.

Mr. Bankman-Fried has previously said he didn’t intend to commit fraud but has acknowledged making mistakes while running the company.

 

This story has been published from a wire agency feed without modifications to the text

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
more

MINT SPECIALS