FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report
Sam Bankman-Fried is pleading not guilty to a new set of charges as the former crypto tycoon faces the possibility of spending decades in jail.
Federal prosecutors alleged in a new indictment unsealed on Tuesday that the founder of bankrupt crypto exchange FTX paid out $40 million in cryptocurrency to induce Chinese government officials to unfreeze the trading accounts of Alameda Research.
The accounts, which contained more than $1 billion in crypto assets, were frozen in early 2021 as China investigated an Alameda counterparty.
Reuters reports that Bankman-Fried pleaded not guilty to the bribery charge at a hearing before District Judge Lewis Kaplan in Manhattan federal court on Thursday.
The 31-year-old also entered a not guilty plea for charges accusing him of violating campaign finance laws.
In February, prosecutors hit Bankman-Fried with additional charges alleging that he conspired to make illegal political donations so legislators will pass laws that are favorable to his company.
Bankman-Fried’s lawyer, Mark Cohen, says he plans to contest the campaign finance and China-related charges by the May 8 deadline because these were filed after his client was extradited from the Bahamas.
The extradition treaty provides that Bankman-Fried may only be tried and punished for the cases that he faced at the time of the extradition unless the Bahamian government allows the new charges.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post FTX Founder Sam Bankman-Fried Pleads Not Guilty to New Charges, Including Bribery of Chinese Officials: Report appeared first on The Daily Hodl.
Go to Source
Author: Rhodilee Jean Dolor
