Sam Bankman-Fried pleads not guilty to additional federal charges
Disgraced FTX founder now faces 13 counts related to collapse of his cryptocurrency empire
FTX founder Sam Bankman-Fried arrives in federal court
Disgraced FTX founder Sam Bankman-Fried now faces 13 charges related to the collapse of his cryptocurrency empire. He has pleaded not guilty to all counts.
Disgraced FTX founder Sam Bankman-Fried pleaded not guilty Thursday to five additional federal charges brought against him by prosecutors in connection with the collapse of his cryptocurrency empire.
Including the latest two rounds of charges, the former executive faces 13 federal counts. If convicted, he could face more than 150 years in prison.
FTX founder Sam Bankman-Fried arrives for trial at Manhattan Federal Court on March 30, 2023 in New York City. (Photo by Drew Angerer/Getty Images / Fox News)
Bankman-Fried appeared in Manhattan federal court before U.S. District Judge Lewis Kaplan to be arraigned on the third superseding indictment brought against him, which was unsealed just days ago.
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The latest charge brought against the former crypto titan is conspiracy to violate the Foreign Corrupt Practices Act.
FTX founder Sam Bankman-Fried arrives at the U.S. federal courthouse in New York City on March 30, 2023. (Photo by Ed Jones/AFP via Getty Images / Fox News)
Prosecutors allege he directed a $40 million cryptocurrency bribe to one or more Chinese government officials to unfreeze assets held there through Alameda Research, the crypto trading hedge fund he founded.
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Bankman-Fried is facing a dozen other federal charges related to the collapse of FTX, accusing him of securities fraud, looting the platform for personal gain, and making illegal political contributions.
Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, walks outside the Manhattan federal court in New York City, on March 30, 2023. (REUTERS/David Dee Delgado / Fox News)
In total, Bankman-Fried reportedly spent upward of $40 million on campaign donations in the 2022 midterm cycle, with the vast majority going to Democrats.
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Bankman-Fried will return to his parents' California home on house arrest on a $250 million bond until his trial, which is slated for October.
FOX Business' Greg Norman contributed to this report.