According to a person familiar with the matter, Sam Bankman-Fried, the founder of FTX, will not accept eight fraud charges against him at next week’s hearing, the Wall Street Journal reported.
Sam Bankman-Fried Will Not Admit Charges Against Him
Earlier this month, the US Attorney for the Southern District of New York indicted Bankman-Fried on eight counts of fraud for allegedly committing one of the largest financial frauds in American history.
It is stated that Bankman-Fried will be personally present in New York on January 3 to make his defense.
Bankman-Fried’s attorney has yet to respond to a request for comment.
Sam Bankman-Fried tweeted from California, where he was under house arrest recently, and Alameda, which has been experiencing activity lately. cryptocurrency He said that he was not the source of the transactions in his wallets.
In a statement made days after Twitter, SBF stated the following:
“None of them is me. I have not and cannot transfer any of these funds; I no longer have access to them.”
This tweet was in response to an article in Cointelegraph that said that Alameda-related wallets had transferred funds just days after Bankman-Fried was released on a $250 million bail, raising suspicions in the crypto community.
The report also noted that several dormant Alameda wallets traded Ethereum for stablecoin Tether before moving the tokens to cryptocurrency mixers.
It is not yet clear how the case will progress and what the final outcome will be, but it is clear that the charges against Bankman-Fried will be watched closely by those in the industry and beyond.
*Not investment advice.
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