Former CEO of the cryptocurrency exchange FTX, Sam Bankman-Fried, pleaded not guilty on Tuesday after getting charged last month with ripping off his clients for billions of dollars within deposits and funneling the money to Democrat politicians.
Bankman-Fried (SBF) is facing up to 115 years in prison if convicted on all 8 charges, which include conspiracy in order to commit money laundering, conspiracy to violate campaign fund laws, conspiracy by misusing customer funds and cable fraud.
The judge set a trial date for Oct. 2, 2023, and the 30-year-old disgraced CEO will live at his parents’ house on house arrest in the meantime.
US Attorney Damian Williams announced the Southern District of New York is launching an FTX task pressure to investigate the company’s collapse plus to try and recover victims’ swindled assets.
“ We are launching the particular SDNY FTX Task Power to ensure that this urgent work continues, powered by all of SDNY’s resources and knowledge, until justice is done, ” he said in a statement .
SBF’s lawyers also filed a letter with the court Tuesday , asking to redact the names of the two unknown individuals who will help secure their $250 million bail.
Judge Lewis Kaplan approved that motion within court.
For more info on what could be the biggest political scandal in U. Ersus. history, watch the following Infowars segments: