Sam Bankman-Fried pleads not guilty to new charges

Disgraced FTX founder Sam Bankman-Fried made his first appearance after spending 10 days in jail

August 22, 2023 01:08 pm

Stanslavs/Shutterstock modified by Blockworks

Sam Bankman-Fried pleaded not guilty to seven fraud and conspiracy charges in a Manhattan federal court on Tuesday.

The new charges, handed down on Aug. 14, came after prosecutors alleged Bankman-Fried used more than $100 million in stolen customer funds to line the pockets of electoral candidates and politicians.

His bail was revoked after the US Department of Justice alleged that Bankman-Fried “repeatedly” tried to “corruptly influence witnesses and interfere with a fair trial through attempted public harassment and shaming,” per the hearing.

The disgraced FTX founder has been permitted to meet with his attorneys on weekdays from 8:30 am to 3 pm ET, per court filings.

Federal Election Commission data shows that Bankman-Fried personally gave more than $40 million in political donations in 2022. Ryan Salame, Bankman-Fried’s former co-CEO, and Nishad Singh, former director of engineering at FTX, were also big donors. Salame gave nearly $23 million almost exclusively to Republicans and related PACs, while Singh gave $8 million during the 2022 midterm election cycle.

The court appearance was Bankman-Fried’s first since his bail was revoked on Aug. 11. He has since been held in custody at the Metropolitan Detention Center in Brooklyn, where, his legal team said Tuesday, he has been denied a vegan diet.

Bankman-Fried’s trial is set for Oct. 3.

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