FTX founder Sam Bankman-Fried arrived more than an hour early Tuesday for his appearance in federal court, where he was expected to plead not guilty.
Cryptocurrency entrepreneur Sam Bankman-Fried, second from right, arrives for an appearance at Manhattan federal court Tuesday, Jan. 3, 2023, in New York. Bankman-Fried will be arraigned in a Manhattan federal court Tuesday on charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform.to get insights and game coverage for your favorite teams
Bankman-Fried, 30, is accused of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm. Prior to his appearance, his lawyers sent a letter to the judge, saying Bankman-Fried’s parents in recent weeks have become the target of “intense media scrutiny, harassment, and threats, including communications expressing a desire that they suffer physical harm.”
Carolyn Ellison, 28, who ran Alameda, and Gary Wang, 29, who co-founded FTX, have pleaded guilty to fraud charges and are cooperating with prosecutors in a bid for leniency. Both are free on bail.
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