TL;DR Breakdown
- Sam Bankman-Fried, the founder of FTX, will plead not guilty to charges of attempting to evade campaign finance laws and bribe one or more Chinese government officials.
- Sam Bankman-Fried had previously pleaded not guilty to eight counts of fraud and conspiracy, with his trial commencing in October.
Sam Bankman-Fried, the founder of FTX, will plead not guilty to charges of attempting to evade campaign finance laws and bribe one or more Chinese government officials, according to a Reuters report. He had previously pleaded not guilty to eight counts of fraud and conspiracy, with his trial commencing in October. With the additional accusations now included in the indictment, Bankman-Fried now faces a total of 13 charges.
In February, Bankman-Fried faced accusations of fraud and conspiracy for making unlawful political contributions. Allegedly, he had attempted to bribe one or more Chinese government officials with approximately $40 million worth of crypto in order to unfreeze certain accounts held by his trading firm, Alameda.
After his December arrest, the founder of the now-bankrupt crypto exchange was released on a $250 million bond into the custody of his parents at their home in Palo Alto, California. As part of his bail conditions, Bankman-Fried was given access to approved websites via a new laptop without an internet connection and a new phone.
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