{"id":534574,"date":"2023-01-03T22:47:15","date_gmt":"2023-01-03T19:47:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ex-crypto-boss-bankman-fried-pleads-not-guilty-to-fraud\/"},"modified":"2023-01-03T22:47:15","modified_gmt":"2023-01-03T19:47:15","slug":"ex-crypto-boss-bankman-fried-pleads-not-guilty-to-fraud","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ex-crypto-boss-bankman-fried-pleads-not-guilty-to-fraud\/","title":{"rendered":"#Ex-crypto boss Bankman-Fried pleads not guilty to fraud"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a245b21075a3\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg 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class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ex-crypto-boss-bankman-fried-pleads-not-guilty-to-fraud\/#%E2%80%9CEx-crypto_boss_Bankman-Fried_pleads_not_guilty_to_fraud%E2%80%9D\" >&#8220;Ex-crypto boss Bankman-Fried pleads not guilty to fraud&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CEx-crypto_boss_Bankman-Fried_pleads_not_guilty_to_fraud%E2%80%9D\"><\/span>&#8220;Ex-crypto boss Bankman-Fried pleads not guilty to fraud&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<div class=\"article-gallery lightGallery\">\n<div data-thumb=\"https:\/\/scx1.b-cdn.net\/csz\/news\/tmb\/2023\/former-ftx-head-sam-ba.jpg\" data-src=\"https:\/\/scx2.b-cdn.net\/gfx\/news\/2023\/former-ftx-head-sam-ba.jpg\" data-sub-html=\"Former FTX head Sam Bankman-Fried (C) arrives to enter a plea in the Manhattan federal court, New York, on January 3, 2023.\">\n<figure class=\"article-img\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/scx1.b-cdn.net\/csz\/news\/800a\/2023\/former-ftx-head-sam-ba.jpg\" alt=\"Former FTX head Sam Bankman-Fried (C) arrives to enter a plea in the Manhattan federal court, New York, on January 3, 2023\" title=\"Former FTX head Sam Bankman-Fried (C) arrives to enter a plea in the Manhattan federal court, New York, on January 3, 2023.\" width=\"800\" height=\"530\"\/><figcaption class=\"text-darken text-low-up text-truncate-js text-truncate mt-3\">\n                Former FTX head Sam Bankman-Fried (C) arrives to enter a plea in the Manhattan federal court, New York, on January 3, 2023.<br \/>\n            <\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>FTX co-founder Sam Bankman-Fried pleaded not guilty Tuesday to US criminal fraud charges over the spectacular collapse of his crypto exchange.<\/p>\n<p>                                                                                The 30-year-old former digital currency billionaire, who is out on bail, entered the plea in federal court in Manhattan before New York judge Lewis Kaplan.<\/p>\n<p>FTX and its sister trading house Alameda Research went bankrupt in November, dissolving a virtual trading business that at one point had been valued by the market at $32 billion.<\/p>\n<p>The United States has charged Bankman-Fried with conspiracy, wire fraud, money laundering and election finance violations.<\/p>\n<p>Prosecutors allege he cheated investors and misused funds that belonged to FTX and Alameda Research customers. <\/p>\n<p>Bankman-Fried pleaded not guilty to all eight counts against him\u2014five of which carry a maximum sentence of 20 years in prison each.<\/p>\n<p>Judge Kaplan set a tentative date of October 2 for the start of his trial.<\/p>\n<p>After its founding in 2019, FTX soared to become a leading player in the crypto-currency world.<\/p>\n<p>Bankman-Fried <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared on the covers of magazines, drew in huge investments from prominent fund managers and venture capitalists and was touted as a future Warren Buffett.<\/p>\n<p>He became one of the largest public donors to the Democratic Party, and claimed to have privately donated an equal amount to the Republican camp too.<\/p>\n<p>But his world imploded sensationally in November when a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> report said Alameda&#8217;s balance sheet was heavily built on a token created by FTX with no independent value.<\/p>\n<p>It exposed Bankman-Fried&#8217;s companies as being dangerously interlinked.<\/p>\n<p>He was arrested at his apartment in the Bahamas\u2014where FTX is headquartered\u2014on December 12 at the request of the federal prosecutors in New York.<\/p>\n<p>They accuse him of &#8220;orchestrating a massive, years-long fraud, diverting billions of dollars of the trading platform&#8217;s customer funds for his own personal benefit and to help grow his crypto empire.&#8221;<\/p>\n<p>He spent nine days in prison on the island country before being extradited to the United States, where he appeared in court on December.<\/p>\n<p>He was released on a $250 million bail package that requires him to live at his parents&#8217; home in California. He is also subject to electronic monitoring.<\/p>\n<p>Prosecutors have already secured the guilty pleas of two key figures in the case. <\/p>\n<p>Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang last month admitted charges relating to the FTX collapse and are cooperating with authorities.<\/p>\n<p>The US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have filed civil suits against Ellison and Wang.<\/p>\n<p>The CFTC estimates that $8 billion in funds were misappropriated from FTX customer accounts. <\/p>\n<p>The US Securities and Exchange Commission has separately accused Bankman-Fried of violating securities laws.<\/p>\n<p class=\"article-main__note mt-4\">\n                                                \u00a9 2023 AFP<\/p>\n<p>                                        <!-- print only --><\/p>\n<div class=\"d-none d-print-block\">\n<p>                                                <strong>Citation<\/strong>:<br \/>\n                                                Ex-crypto boss Bankman-Fried pleads not guilty to fraud (2023, January 3)<br \/>\n                                                retrieved 3 January 2023<br \/>\n                                                from https:\/\/techxplore.com\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\/2023-01-ex-crypto-boss-bankman-fried-guilty-fraud.html<\/p>\n<p>                                            This document is subject to copyright. 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FTX co-founder Sam Bankman-Fried pleaded not guilty Tuesday to US criminal fraud charges over the spectacular collapse of his crypto exchange. The 30-year-old former digital&#8230;<\/p>\n","protected":false},"author":1,"featured_media":534575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/scx2.b-cdn.net\/gfx\/news\/2023\/former-ftx-head-sam-ba.jpg","fifu_image_alt":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-534574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sciencee"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/534574","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=534574"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/534574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/534575"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=534574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=534574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=534574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}