London Daily

Focus on the big picture.
Saturday, Jun 21, 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

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×