{"id":141096,"date":"2023-09-01T22:19:36","date_gmt":"2023-09-01T16:49:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=141096"},"modified":"2023-09-01T22:19:36","modified_gmt":"2023-09-01T16:49:36","slug":"sam-bankman-fried-pleads-not-guilty-to-misusing-client-funds-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sam-bankman-fried-pleads-not-guilty-to-misusing-client-funds-crypto-news\/","title":{"rendered":"Sam Bankman-Fried pleads not guilty to misusing client funds &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, pleaded not guilty on Tuesday to a set of new charges tied to last year\u2019s collapse of his crypto empire.<\/p>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/sam-bankman-fried-stolen-donation-funds\/\">FTX founder Sam Bankman-Fried charged with stealing customer funds for political donations<\/a><\/p>\n<h2 class=\"wp-block-heading\">Fast facts<\/h2>\n<ul>\n<li>U.S. prosecutors <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/sam-bankman-fried-stolen-donation-funds\/\">filed<\/a> a new indictment against Bankman-Fried on seven counts of fraud and conspiracy on Aug. 14. Those included the accusation that Bankman-Fried stole customer funds for political campaign contributions before the 2022 U.S. midterm elections.<\/li>\n<li>Prosecutors allege that Bankman-Fried hid his actions by directing money from FTX sister company Alameda into the personal accounts of FTX executives. They then made the donations in their own names, prosecutors claim.<\/li>\n<li>Meanwhile, during Tuesday\u2019s hearing, Bankman-Fried\u2019s attorneys <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/policy\/2023\/08\/22\/sam-bankman-fried-pleads-not-guilty-to-latest-indictment\/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines\">reque<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/policy\/2023\/08\/22\/sam-bankman-fried-pleads-not-guilty-to-latest-indictment\/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines\">s<\/a><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coindesk.com\/policy\/2023\/08\/22\/sam-bankman-fried-pleads-not-guilty-to-latest-indictment\/?utm_medium=referral&amp;utm_source=rss&amp;utm_campaign=headlines\">ted <\/a>that the former FTX CEO have access to internet-enabled laptops to review documents produced during the discovery phase.<\/li>\n<li>The defense team also alleged that he is living in substandard conditions at Brooklyn\u2019s Metropolitan Detention Center. They said the facility is failing to provide Bankman-Fried with vegan food options and prescription drugs to treat his attention deficit disorder and depression.\u00a0<\/li>\n<li><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/sam-bankman-fried-pleads-not-guilty-to-fraud-charges-in-ftx-exchange-collapse\/\">Bankman-Fried<\/a>, who once had an estimated fortune of US$26 billion, is accused of attempting to use the political influence generated via donations to lobby Congress and regulatory agencies for legislation favorable to FTX.<\/li>\n<li>Bankman-Fried is believed to have donated over <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cbsnews.com\/news\/ftx-sam-bankman-fried-political-donations-2022\/\">US$40 million<\/a> to political figures in 2022, making him one of Washington\u2019s largest donors. He mostly donated to Democrats, although he claims he also gave to Republicans using undisclosed \u201cdark\u201d donations.<\/li>\n<li>Bankman-Fried was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/sam-bankman-fried-arrested-in-bahamas-what-comes-next\/\">arrested<\/a> in the Bahamas in December 2022 on multibillion-dollar fraud charges related to the failure of the FTX exchange. He maintains his innocence and has pleaded not guilty to all the charges brought against him.<\/li>\n<\/ul>\n<p><strong><em>See related article:<\/em><\/strong> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/headlines\/ftx-founder-jailed-for-witness-interference\/\">FTX founder Sam Bankman-Fried jailed for witness interference<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, pleaded not guilty on Tuesday to a set of new charges tied to last year\u2019s collapse of his crypto empire. See related article: FTX founder Sam Bankman-Fried charged with stealing customer funds for political donations Fast facts U.S. prosecutors filed a new indictment against Bankman-Fried on seven [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":141097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-141096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141096","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=141096"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141096\/revisions"}],"predecessor-version":[{"id":147091,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/141096\/revisions\/147091"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/141097"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=141096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=141096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=141096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}