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FTX Founder Sam Bankman-Fried Refuses to Go Down Without a Fight: Pleads Not Guilty to Criminal Charges and Heads to October Trial

BY WOM

Sam Bankman-Fried, the founder of FTX, has pleaded not guilty to criminal charges and is set to go to trial on October 2nd in the United States District Court in New York. The trial is expected to last at least four weeks. Bankman-Fried has been accused by prosecutors of stealing billions of dollars in customer funds from FTX and defrauding investors and lenders of Alameda Research, his trading arm. He is also alleged to have made millions of dollars in illegal campaign contributions funded by Alameda. Bankman-Fried's lawyers have requested that the judge conceal the identities of two people who will help secure his bail, along with his parents' house in Palo Alto, California. These individuals have not yet signed the bond but intend to do so by January 5th. If convicted on all charges, Bankman-Fried faces a maximum sentence of 115 years in prison.

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