简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:In New York federal court, FTX founder and former CEO Sam Bankman-Fried pled not guilty to criminal charges stemming from the collapse of his now-bankrupt exchange and Alameda Research.
The disgraced Bitcoin icon was charged with eight counts, including conspiracy to commit wire fraud and money laundering, as well as securities fraud and conspiracy to circumvent campaign funding restrictions. If convicted, the former cryptocurrency mogul faces up to 115 years in jail.
The trial date has been scheduled for October 2 by U.S. District Judge Lewis Kaplan. SBF, who is being held on a $250 million bail, appeared in Federal District Court in Manhattan, where his attorney, Mark Cohen, filed a not guilty plea on all charges.
Mr. Bankman-Fried, 30, previously admitted committing errors but rejected allegations of widespread fraud, setting the path for a trial. However, the Massachusetts Institute of Technology graduate may alter his mind and plead guilty to some of the allegations.
SBF was charged by federal prosecutor Danielle Sassoon of executing a multiyear plan that deceived consumers and lenders about the financial situation of FTX and Alameda from 2019 to November 2022. In addition, he broke federal campaign finance laws and deceived the Federal Election Commission by funneling $70 million in unlawful donations to political politicians, according to U.S. Attorney Damian Williams.
Bankman-Fried is also accused of misusing $8 billion in client funds to purchase lavish real estate and vanity projects in the Bahamas, trade cryptocurrencies, invest in other firms, and make tens of millions of dollars in political contributions.
Prosecutors have termed his acts “an immense swindle” and one of the greatest and most “brazen” in recent memory.
On December 21, Bankman-Fried was extradited from the Bahamas, where he resided and where his enterprises were located, to the United States. He appeared in court the following day and was granted bail on a $250 million recognizance bond backed by his family's property in California. However, he was freed under very stringent terms, including a prohibition on transferring or accessing FTX client assets and confinement to his parent's house in Palo Alto.
Alameda CEO Caroline Ellison and FTX co-founder Gary Wang, two of Bankman-closest Fried's associates, have both pled guilty to criminal charges. According to the agreements, Ellison, 28, and Wang, 29, have promised to fully assist the government after being charged with civil and criminal fraud and conspiracy.
Stay tuned for more FTX news.
Download and install the WikiFX App from the download link below to stay updated on the latest news, even on the go. You can also download the app from the App Store or Google Play Store.
Download link: https://www.wikifx.com/en/download.html
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Amid ongoing efforts to recover assets for creditors of the defunct crypto exchange FTX, Sam Trabucco, former co-CEO of Alameda Research, has agreed to forfeit high-value assets, including two San Francisco properties and a yacht. According to a court filing dated 3 November, the combined value of these assets reaches approximately $11.2 million — with the properties estimated at $8.7 million and the 53-foot yacht at $2.5 million.
Tradeweb and Tokyo Stock Exchange partner to improve ETF liquidity for global investors, offering streamlined access and competitive trading in Japan’s ETF market.
ATFX Connect collaborates with Your Bourse to boost broker liquidity options, offering tailored solutions, advanced tools, and real-time reporting capabilities.
In recent years, the rise of deepfake technology and sophisticated online exploitation tactics have led to a dangerous surge in share-trading frauds. Cybercriminals have evolved their methods to deceive even the most cautious investors, making it increasingly challenging for individuals to discern genuine opportunities from scams.