Sam Bankman-Fried (SBF) the former CEO of FTX, has entered a not guilty plea to all allegations against him, including wire fraud, securities fraud, and breaking campaign funding rules all of which could result in 115 years in jail.
Bankman-counsel Fried’s reportedly submitted a not guilty plea on SBF’s behalf in his first court appearance since December, according to many spectators in the Southern District of New York’s United States District Court on January 3. Bankman-Fried is charged with eight crimes, and if found guilty, he may spend 115 years in prison.
One of the prosecutors in the case against the former FTX executive, Assistant U.S. Attorney Danielle Sassoon, allegedly said that her team planned to provide evidentiary papers to SBF’s attorneys within the next two weeks.
The former FTX CEO had been under house arrest since December 22 at his parent’s home in California, but he traveled back to New York for the plea negotiation.
The court allowed SBF’s legal counsel’s request to redact identifying information on those serving as sureties for his $250 million bail at the same hearing. Since posting bail in December, Bankman-parents Fried has allegedly been “the subject of increased public attention, abuse, and threats.”
