Topline
Sam Bankman-Fried was expected to plead not guilty Tuesday to charges related to the collapse of his crypto empire, setting the stage for one of the most high-profile white-collar criminal trials in American history.
Sam Bankman-Fried, left, leaves Manhattan Federal Court last month.
Key Facts
The disgraced founder of crypto exchange FTX and hedge fund Alameda Research was expected to enter his not guilty plea Tuesday arraignment hearing in a New York federal court, The Wall Street Journal and Reuters reported earlier.
Prosecutors charged Bankman-Fried with eight criminal counts last month, including commiting wire fraud on customers and lenders and conspiracy to commit money laundering and to break federal campaign finance laws.
Bankman-Fried’s plea would follow guilty pleas from his top sidekicks Caroline Ellison, Alameda’s former CEO, and Gary Wang, FTX’s cofounder, on related charges for the alleged scheme to defraud FTX investors and misappropriate customer funds.
Big Number
115 years. That’s the maximum prison sentence Bankman-Fried faces if found guilty on all counts.
Key Background
Bankman-Fried, a California native who resided in the Bahamas and headquartered FTX there, was arrested by Bahamian…
