The former head of the FTX crypto exchange, Sam Bankman-Fried, pleaded not guilty to fraud and money laundering related to the collapse of his crypto site in 2022, during a court hearing on August 22, writes RBC Crypto with reference to Coindesk.
The hearing was held in the Southern District of New York. In a new indictment, the founder of FTX was charged with using funds from crypto exchange customers for various purposes, from buying personal real estate to financing election campaigns. In August, it was reported that Bankman-Fried used the $100 million he stole for political donations. The updated indictment says Bankman-Fried made donations to Democrats and Republicans to hide the origin of the money.
In August, former FTX executive Ryan Salame began plea bargaining with prosecutors. At the same time, it was not reported whether he would testify against Bankman-Freed.
On June 28, FTX’s new CEO, John Wray, said the company had “launched a stakeholder engagement process to reboot the FTX.com exchange.”
The bankruptcy proceedings of the FTX group of companies have been going on for several months. The new management of the company began to return funds from recipients of donations from the ex-head of the exchange Bankman-Fried and his former colleagues at the end of December 2022. The company said that if the previously transferred funds are not returned voluntarily, FTX representatives will go to court demanding the return of not only the money itself, but also interest on it, which will accrue from the date the documents are submitted to the court.
Source: Cryptocurrency

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