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Sam Bankman-Fried pleads not responsible to bribery, prices from superseding indictment

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Legal professionals for former FTX CEO Sam Bankman-Fried have entered a not-guilty plea for 5 further prices since his December 2022 arraignment, together with allegations of bribery.

In keeping with a number of stories, Bankman-Fried pleaded not responsible in United States District Courtroom for the Southern District of New York to 4 prices added as a part of a superseding indictment in February, and one cost added on March 28 associated to the previous CEO allegedly bribing a Chinese language authorities official. Different prices embody conspiracy counts associated to fraud in addition to these for wire fraud and securities fraud throughout his time at FTX.

Mark Cohen, the legal professional representing Bankman-Fried within the legal case, reportedly argued that although SBF had entered a not responsible plea, there was no acknowledgement that the courtroom had the authority to deliver the costs in opposition to him. The most recent cost alleged that SBF was concerned in transferring “at least approximately $40 million in cryptocurrency intended for the benefit of one or more Chinese government officials” supposed to facilitate transactions tied to Alameda Analysis.

Associated: Sam Bankman-Fried is paying for authorized protection utilizing beforehand gifted funds from Alameda: Report

Bankman-Fried has been free on bail since being turned over to U.S. custody from the Bahamas in December, largely confined to his mother and father’ California dwelling. A federal choose lately amended his bail circumstances to ban the usage of any smartphone with web entry. Chapter proceedings for FTX are additionally at present underway within the District of Delaware.

Journal: SBF authorized charges, BTC market cap flips Meta and USDC climbs again to $1: Hodler’s Digest, March 12-18