SBF advocates not guilty for campaign financing and allegations of bribes in China: Report
SBF advocates not guilty for campaign financing and allegations of bribes in China: Report
the founder and former CEO of the bankruptcies FTX exchange, Sam Bankman-Fried, will again not guilty as far as the recent charges of the US prosecutors affect illegal political donations and alleged bribery of Chinese civil servants.
He should be on trial in October for various charges.
Bankman-Fried pleads on not guilty because of 13 charges
According to Reuters on Thursday (March 30, 2023), an anonymous source said that Sam Bankman-Fried is planning to submit a non-guilty plea for 13 new charges, including the bribery of Chinese government officials and the violation of laws on the campaign financing.
In February 2023 it was said in a replacement area that Bankman-Fried had conspired with two FTX managers in order to afford more than 300 political donations worth several ten million dollars, which had exceeded the limit for individual campaign donations. According to the indictment, illegal donations were made with straw donors or company money.
The US Justice Ministry (DOJ) later incorporated another lawsuit against SBF and claimed that the former billionaire had bribed Chinese government officials with $ 40 million in order to release the accounts of Alameda Research. According to Doj, the accounts that were frozen around in November 2021 contained over $ 1 billion in crypto.
reports Alameda Money is used to finance SBF's legal fees
While three close employees of Bankman-Fried-Caroline Ellison, Gary Wang and Nishad Singh-all guilty about fraud allegations and cooperate with US prosecutors did the opposite. In January, SBF was not guilty of allegations such as transfer fraud, money laundering and embezzlement of customer funds for personal use.
After the crypto exchange from Bankman-Fried collapsed in November 2022, the founder was arrested in December by Bahama's authorities and later delivered to the United States. He was released against a deposit of $ 250 million, which was carried out by his parents and two academics at Stanford University, Dr. Andreas Paepcke and Larry Kramer, signed.
In the meantime, the negotiation date of SBF is set on October 2, 2023, but there are reports that his lawyers say that the appointment could be postponed because the lawyers need more time to check the evidence and prepare a defense.
Last reports Bankman-Fried paid for his legal fees with the money he had previously given his father Joseph Bankman, who came from Alameda.
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