WASHINGTON (UrduPoint News / Sputnik – 04th Jan, 2023) Sam Bankman-Fried, the former CEO of cryptocurrency exchange FTX, pleaded not guilty to federal financial crime charges during a court hearing in New York, CNBC reported on Tuesday.
Bankman-Fried pleaded not guilty to charges that include conspiracy to commit wire fraud, securities fraud and money laundering, the report said.
In December, the US government indicted Bankman-Fried in what prosecutors have described as one of the largest financial fraud cases in US history. Prosecutors allege that FTX violated US campaign finance laws and planned to misuse customer funds.
Bankman-Fried was released last month on a $250 million bond while legal proceedings against him continue. If he is convicted, he risks a prison sentence of up to 115 years.