Sam Bankman-Fried’s legal fight is getting more serious with fresh accusations. He says he didn’t do the $100M stuff or the claimed political influence and has pleaded not guilty.
The ex-CEO of FTX, Sam Bankman-Fried, said he didn’t do what he’s accused of. They say he tried to use $100 million to affect U.S. politics, but he’s pleaded not guilty.
The Southern District of New York court charged him with seven crimes like fraud and money laundering on Tuesday.
Judge Netburn: You are charged in seven counts [Count 8, campaign finance charges, is gone] How do you plead?
Bankman-Fried: Not guilty.
AUSA: We'd like to exclude time until the trial, October 3.
Mark Cohen for SBF: We'd like to raise two topics regarding the MDC— Inner City Press (@innercitypress) August 22, 2023
On August 11, a $250 million bail was taken away from the 31-year-old millionaire because of claims of tampering with witnesses. Then, he was sent to Brooklyn’s Metropolitan Detention Center, where he has been staying. In his sixth hearing with a new indictment since he was arrested, Bankman-Fried said he didn’t do any of the things they’re saying.
Allegations and Defense Approach
The accusations against the troubled former billionaire have changed a few times. Some charges were dropped during his extradition from the Bahamas in December, following the rules of the extradition treaty with the Caribbean nation. Bankman-Fried is still facing accusations related to campaign finance issues, although this isn’t a separate charge in the latest charges against him.
His defense team has raised worries about his well-being while he’s in federal lockup. They said he’s been having trouble getting the prescription medicine he needs and following a vegan diet.
His lawyers asked for special arrangements for his diet and for access to Adderall, which he takes for his ADHD. They also mentioned that the prison hasn’t given him EMSAM, an antidepressant.
Worries About Defense Readiness
Bankman-Fried’s lawyers also said that his rights under the Sixth Amendment were being violated. They explained that because he’s been held since August 11, he can’t get ready properly for the trial. They mentioned that they were given solutions that didn’t actually help.
🚨NEW: Judge Kaplan has granted @SBF_FTX approval to meet with his lawyers from around 8:30AM-3:00PM tomorrow on the day of his arraignment for the superseding indictment. His lawyers are allowed to bring one internet-enabled laptop and one Wi-Fi device to the meeting. 👇🏼 pic.twitter.com/2dpAEHbaPb
— Eleanor Terrett (@EleanorTerrett) August 21, 2023
The defense team said that if Bankman-Fried doesn’t have internet, proper food, and medicine, he won’t be able to defend himself well against the complicated charges he’s facing, according to his lawyer Mark Cohen.
Judge Sarah Netburn was in charge of the hearing. She said she would look into the problems the defense brought up after the hearing and try to solve them by the end of the day.
Bankman-Fried’s trial is planned to start in early October. Both sides, the prosecution and defense, have given their suggestions for how the judge should explain the charges and claims to the jurors.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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