OUT OF MIND
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Latest topics
» Died Suddenly's - 01/26/23
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:53 am by PurpleSkyz

» Earth’s Core Has Stopped and May Be Reversing Direction, Study Says
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:48 am by PurpleSkyz

» Transgender Agenda News
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:33 am by PurpleSkyz

» Parsing an Ungrateful Generation
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:22 am by PurpleSkyz

» ‘Engineered’, Yes,…But In The Wuhan Lab?
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:18 am by PurpleSkyz

» It's Hammer Time - San Francisco judge orders police bodycam footage of Paul Pelosi attack to be released
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:16 am by PurpleSkyz

»  Establishment Demands You Stop Damar Hamlin Conspiracy Theories
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 11:10 am by PurpleSkyz

» Record Renewable Energy Generation in Australia Led to Record Low Demand and Emissions in Fourth Quarter of 2022
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 1:03 am by PurpleSkyz

» Consuming medicinal cannabis oil improves sleep in adults with insomnia
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 12:53 am by PurpleSkyz

» Major Blow as Experimental HIV Vaccine Fails in Late Clinical Trial
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 12:35 am by PurpleSkyz

» Oh Oh!! - 90 seconds to midnight
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 12:31 am by PurpleSkyz

» NASA is building a nuclear rocket to get to Mars in just 45 days
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 12:29 am by PurpleSkyz

» BOMBSHELL: New Project Veritas video hits it out of the park!!! Watch now!
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyYesterday at 12:17 am by PurpleSkyz

» This gigantic Face discovered on a mountain near the village of Sardi Khola in Nepal
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 11:35 am by PurpleSkyz

» Meanwhile…here on planet vaudeville…
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 11:12 am by PurpleSkyz

» I Want To Stop CBDCs – What Can I Do?
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 11:07 am by PurpleSkyz

» Good People Doing Good Things — Dr. Kwane Stewart
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 11:03 am by PurpleSkyz

» Priests Doing What Priests Do
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 10:28 am by PurpleSkyz

» Died Suddenly's - American Fashion Model Jeremy Ruehlemann Dead at 27 plus more
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 12:39 am by PurpleSkyz

» Damar Hamlin is officially Tiffany Dover the sequel after sloppy propaganda display during Bengals at Bills game
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 12:35 am by PurpleSkyz

» Non-Violent J6 Protester Who Put Feet Up On Pelosi’s Desk Found Guilty On All Charges, Faces Life in Prison
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 12:28 am by PurpleSkyz

» City adds defibrillators to 4 Las Vegas parks
Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges EmptyWed Jan 25, 2023 12:24 am by PurpleSkyz

You are not connected. Please login or register

OUT OF MIND » THE INSANITY OF REALITY » FINANCIAL COLLAPSE » Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges

Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges

Go down  Message [Page 1 of 1]

PurpleSkyz

PurpleSkyz
Admin

Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges

The 30-year-old former billionaire pleaded not guilty to charges related to the collapse of his allegedly fraudulent crypto empire.

by Jordan Pearson
January 3, 2023, 1:24pm

Sam Bankman-Fried Pleads Not Guilty to FTX Fraud Charges FTX-founder-Sam-Bankman-Fried-
[*]
Sam Bankman-Fried, the former CEO of bankrupt cryptocurrency exchange FTX, pleaded not guilty to fraud charges in U.S. District Court in Manhattan on Tuesday. 

The 30-year-old, who was recently extradited to the U.S. from the Bahamas, is facing eight charges from federal prosecutors related to the fall of his crypto empire, which at one point gave him a net worth of $26 billion. The charges include wire fraud, securities fraud, violating campaign finance law, and conspiracy charges. “He pleads not guilty to all counts," Bankman-Fried's lawyer, Mark Cohen, said in court, the AP reported.

FTX imploded suddenly in November—essentially running out of money to honor customers' withdrawals—and in the aftermath, numerous reports painted the picture of a dangerously intertwined enterprise. FTX had used billions of dollars in customer deposits to prop up the now-bankrupt hedge fund Alameda Research, which Bankman-Fried also founded and which traded crypto on the FTX exchange, the reports said. 

Bankman-Fried's not guilty plea was expected. Highly unusual for such cases, he did a press tour before being detained. During that time, he said that he "fucked up," but ultimately deflected responsibility. He claimed that he essentially did not know how his own exchange—and its sister hedge fund—were being run. Alameda's CEO was Caroline Ellison, who pleaded guilty to fraud charges and is cooperating with prosecutors. 

The collapse of FTX and Bankman-Fried's public image as a benevolent and regulation-friendly billionaire sent shockwaves through the crypto industry and Washington, D.C, where he had gained influence. Bankman-Fried was a prolific political donor and testified before Congress in 2021. He is currently out on a record $250 million bail, and a trial date has been set for October.


THANKS TO: https://www.vice.com/en/article/88qj75/sam-bankman-fried-pleads-not-guilty-to-ftx-fraud-charges?utm_source=email&utm_medium=editorial&utm_content=daily&utm_campaign=230103



  

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum