Former FTX CEO Sam Bankman-Fried Pleads Not Guilty to Criminal Charges, Bond Signees’ Names Remain Sealed 

On Jan. 3, 2023, the previous FTX CEO Sam Bankman-Fried (SBF) pleaded not responsible to eight legal costs that contain two counts of wire fraud and 6 counts of conspiracy. In addition to the not responsible plea, SBF’s choose Lewis Kaplan granted the defendant’s request to maintain the names of his $250 million bond signees redacted.

Sam Bankman-Fried Pleads Not Guilty to Criminal Charges and Fights to Keep Bond Signees Anonymous in Court

Disgraced FTX co-founder Sam Bankman-Fried (SBF) mentioned he’s not responsible of the eight costs in opposition to him when he attended his courtroom listening to in entrance of choose Lewis Kaplan on Tuesday. When SBF’s entourage arrived exterior the Manhatten courthouse, his SUV was swarmed by the press and reports say the group was so massive “Bankman-Fried’s mother was unable to exit the vehicle.” SBF’s bodyguard and safety workforce then escorted the previous FTX govt into the courthouse.

Alongside pleading not responsible to the fees in opposition to him, SBF’s attorneys filed a movement with a purpose to hold the names of the 2 signees who signed SBF’s $250 million bond sealed. The attorneys insisted that SBF’s mother and father had been already coping with dangers from their son’s case and the authorized workforce mentioned it needs to verify the bail bond’s guarantors don’t endure the identical destiny. SBF’s bond was attention-grabbing as a result of the previous FTX govt didn’t must pay any cash in any respect. His mother and father needed to safe the bond with their home in Palo Alto and 4 individuals co-signed the bond.

The deal is that if SBF doesn’t seem in courtroom or if he breaks his bail situations, his dad or mum’s Palo Alto dwelling might be on the hook, and the signees might be pressured to cowl the remainder of the bond. Judge Lewis Kaplan accredited the movement to maintain the 2 signees names sealed despite the fact that there have been filings opposing the sealing. Matthew Russell Lee from the Inner City Press said that often “co-signers’ names and info, including income, are routinely made public in the SDNY Magistrates Court, for less privileged defendants.”

Russell Lee detailed that the Inner City Press filed an opposition to the sealing and he additionally talked about that choose Kaplan set a brand new bail situation for the defendant. SBF is no longer allowed to entry any funds related to FTX or Alameda Research whereas on home arrest. “[U.S. prosecutors] didn’t ask for no Internet condition, as they ask for in some other cases,” Russell Lee mentioned. After SBF’s not responsible plea, choose Kaplan scheduled the trial to tentatively start on Oct. 2, 2023.

What do you concentrate on SBF pleading not responsible on Tuesday and the choose permitting the defendants to maintain the bond signees’ names sealed? Let us know what you concentrate on this topic within the feedback part under.