Former CEO of FTX Sam Bankman-Fried (SBF)nowadays free on $250 million bailhe will reportedly plead not guilty to the alleged financial frauds involving FTX and Alameda in court on January 3.
SBF was arrested in the Bahamas at the request of the US government on suspicion of defrauding investors and misappropriating funds held on the FTX crypto exchange. Following a court hearing on December 22, SBF was released on bond and is scheduled to appear in court on January 3 before US District Judge Lewis Kaplan in Manhattan.
During the hearing, SBF is expected to plead not guilty to the criminal charges, according to a Reuters report. report. On December 13, SEC indicted former FTX CEO in violation of the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.
Defendants have the right to plead not guilty during initial court hearings and are allowed to change their guilty plea in due course.
Related: Sam Bankman-Fried found 'chilling' in JFK airport lounge on $250 million bail
On December 28, a movement of funds from Alameda's wallets raised suspicions about SBF's involvement in the anomaly. However, the businessman was was quick to distance himself from the alleged rumors.
None of these are me. I am not and could not be moving any of those funds; I no longer have access to them.https://t.co/5Gkin30Ny5
โSBF (@SBF_FTX) December 30, 2022
SBF's tweet was on response to a Cointelegraph report that a wallet address had received more than 600 Ether (ETH) of handbags that belonged to Alameda.
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