Based on a report from Reuters, Sam Bankman-Fried, former CEO and co-founder of the now-bankrupt FTX change, has pleaded not responsible to a current cost accusing him of fraud and conspiracy. This motion was taken within the first courtroom look of Bankman-Fried since a US courtroom revoked his bail in early August.

In a listening to presided over by Justice of the Peace Decide Sarah Netburn within the Southern District of New York courthouse, SBF made a “not responsible” plea to the seven felony expenses. His mom, Stanford Legislation Faculty professor Barbara Fried, was reportedly in attendance.

The previous CEO is at present being held at Brooklyn’s Metropolitan Detention Middle, which his legal professionals complained about. Mark Cohen, Bankman-Fried’s lawyer, stated throughout the current listening to that his consumer had been denied entry to the drug Adderall, used within the therapy of his consideration deficit hyperactive dysfunction (ADHD).

Cohen additionally claimed that the jail officers have refused to offer a vegan weight loss program to the defendant – as requested. “As a result of he’s following his ideas, he’s now subsisting on bread and water,” the legal professional stated.

Sam Bankman-Fried Allowed To Meet Attorneys?

Bankman-Fried has been in jail since August 11, 2023, after US district choose Lewis Kaplan rescinded his bail for allegedly tampering with witnesses. On August 18, legal professionals of the previous FTX boss requested that their consumer be launched for 5 days – throughout the week – to have the ability to work on his protection.

On Tuesday, August 22, Bitcoinist reported that Decide Kaplan had authorised Sam Bankman-Fried to satisfy his counsel, albeit with strict limitations. Based on the report, SBF can meet his legal professionals within the “Marshal’s cell block legal professional room, from roughly 8:30 a.m. till roughly 3 p.m.”

Moreover, SBF and his counsel may have entry to the web throughout the assembly as Decide Kaplan agreed for his lawyer to carry “one” internet-enabled laptop computer and one Wifi machine to the courthouse.

Prosecutors have accused Bankman-Fried of diverting billions of {dollars} in FTX buyer funds to avoid wasting Alameda and purchase costly properties whereas donating greater than $100 million to political campaigns. Whereas the previous FTX boss has admitted to threat administration shortcomings, he has refuted claims of stealing buyer funds.


Crypto Whole Market Cap at $1.028 trillion | Supply: each day TOTAL chart from TradingView


Featured picture from Forbes, chart from TradingView


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