Beautiful Virgin Islands

Monday, Jun 30, 2025

Sam Bankman-Fried will enter a plea next week in FTX case, court filings show

Sam Bankman-Fried will enter a plea next week in FTX case, court filings show

The January 3 hearing will be Sam Bankman-Fried's opportunity to either plead guilty or to tell the court he will fight the eight charges at trial.
FTX founder Sam Bankman-Fried is expected to enter a plea at a court hearing next week, court filings show.

The arraignment hearing, scheduled for January 3, will be Bankman-Fried's opportunity to either plead guilty in the face of eight fraud and conspiracy counts against him, or to tell the court he will fight the charges at trial.

After Bankman-Fried was extradited from the Bahamas to the US last week, prosecutors announced that his two top lieutenants, Caroline Ellison and Gary Wang, pleaded guilty to fraud charges stemming from the FTX scandal and were cooperating with their investigation. Prosecutors allege that Bankman-Fried orchestrated a years-long fraud by hiding the flow of money between FTX, his currency exchange, and Alameda Research, a cryptocurrency hedge fund he controlled.

At a hearing in a federal courtroom in Manhattan last Thursday, US Magistrate Judge Gabriel W. Gorenstein released Bankman-Fried on a $250 million bail and required him to stay confined to his parents' home in Palo Alto, California, with the exception of court appointments and exercise.

The January 3 hearing was previously on the court's calendar. A docket entry on Wednesday designated it as an arraignment hearing, meaning that Bankman-Fried is now scheduled to enter his plea. He will be expected to appear in New York in person.

Another docket entry on Wednesday indicated that two additional prosecutors were joining the case: Samuel Raymond and Andrew Rohrbach. Rohrbach was also one of the prosecutors who handled the case against Jeffrey Epstein's associate Ghislaine Maxwell, who was ultimately found guilty of sex-trafficking girls and sexually abusing them herself.

On Tuesday, the criminal cases of Bankman-Fried, Ellison, and Wang were assigned to US District Judge Lewis Kaplan. Judge Ronnie Abrams, who was previously assigned to the case, recused herself because her husband "advised FTX in 2021, as well as represented parties that may be adverse to FTX and Defendant Bankman-Fried in other proceedings."
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
OpenAI Secures Multimillion-Dollar AI Contracts with Pentagon, India, and Grab
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Germany Votes to Suspend Family Reunification for Asylum Seekers
Elon Musk Critiques Senate Budget Proposal Over Job Losses and Strategic Risks
Los Angeles Riots ended with Federal Investigations into Funding
Budapest Pride Parade Draws 200,000 Participants Amid Government Ban
Southern Europe Experiences Extreme Heat
Xiaomi's YU7 SUV Launch Garners Record Pre-Orders Amid Market Challenges
Jeff Bezos and Lauren Sanchez's Lavish Wedding in Venice
Russia Launches Largest Air Assault on Ukraine Since Invasion
Education Secretary Announces Overhaul of Complaints System Amid Rising Parental Grievances
Massive Anti-Government Protests Erupt in Belgrade
Trump Ends Trade Talks with Canada Over Digital Services Tax
UK Government Softens Welfare Reform Plans Amid Labour Party Rebellion
Labour Faces Rebellion Over Disability Benefit Reforms Ahead of Key Vote
Jeff Bezos and Lauren Sánchez Host Lavish Wedding in Venice Amid Protests
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
North Korea to Open New Beach Resort to Boost Tourism Economy
UK Labour Party Faces Internal Tensions Over Welfare Reforms
Andrew Cuomo Hints at Potential November Comeback Amid Democratic Primary Results
Curtis Sliwa Champions His Vision for New York City Amid Rising Crime Concerns
Federal Reserve Proposes Changes to Capital Rule Affecting Major Banks
EU TO HUNGARY: LET THEM PRIDE OR PREP FOR SHADE. ORBÁN TO EU: STAY IN YOUR LANE AND FIX YOUR OWN MESS.
Trump Escalates Criticism of Media Over Iran Strike Coverage
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
Big Four Accounting Firms Fined in Exam Cheating Scandal
NATO Members Agree to 5% Defense Spending Target by 2035
Australia's Star Casino Secures $195 Million Rescue Package Amid Challenges
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
×