Sam Bankman-Fried to plead not guilty to criminal charges

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Sam Bankman-Fried to plead not guilty to criminal charges

Sam Bankman-Fried, the former CEO of FTX, is expected to plead not guilty to the criminal charges of financial fraud and misappropriation of funds related to FTX and Alameda Research on January 3.

He was arrested in the Bahamas at the request of the US government and was released on bail after a court hearing on December 22. He is scheduled to appear in court before Judge Lewis Kaplan in Manhattan on January 3.

According to Reuters, Bankman-Fried will plead not guilty to the charges brought against him by the Securities and Exchange Commission (SEC) for violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. It is common for defendants to plead not guilty at their initial court hearings and they may change their plea at a later time.