{"id":15922,"date":"2022-12-28T22:58:37","date_gmt":"2022-12-28T22:58:37","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-co-founder-faces-no-nonsense-judge-next-week-report-says-sbf-expected-to-enter-a-plea-in-fraud-case-bitcoin-news\/"},"modified":"2022-12-28T22:58:37","modified_gmt":"2022-12-28T22:58:37","slug":"ftx-co-founder-faces-no-nonsense-judge-next-week-report-says-sbf-expected-to-enter-a-plea-in-fraud-case-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-co-founder-faces-no-nonsense-judge-next-week-report-says-sbf-expected-to-enter-a-plea-in-fraud-case-bitcoin-news\/","title":{"rendered":"FTX Co-Founder Faces \u2018No-Nonsense\u2019 Judge Next Week, Report Says SBF ‘Expected to Enter a Plea’ in Fraud Case \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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According to court documents, Sam Bankman-Fried (SBF) is set to be arraigned by the federal court in the Southern District of New York (SDNY) on Jan. 3, 2023. The disgraced FTX co-founder plans to enter a plea in his fraud case in front of U.S. judge Lewis Kaplan in Manhattan, according to a report published by Reuters.<\/strong><\/p>\n

Report Claims FTX Co-Founder Sam Bankman-Fried \u2018Expected to Enter a Plea Next Week,\u2019 Criminal Defense Attorney Says Feds Have a Case With \u2018Very Few Holes\u2019<\/h2>\n

Just recently, the judge that was presiding over Sam Bankman-Fried\u2019s<\/a> (SBF) fraud case, judge Ronnie Abrams, withdrew from the case citing a conflict of interest. It seems Abrams husband, Greg Andres, was reportedly an FTX adviser last year. Andres is a partner at the white-shoe, international law firm headquartered in New York City, Davis Polk & Wardwell. Following Abrams\u2019s withdrawal from SBF\u2019s case, the judge has been replaced by judge Lewis Kaplan.<\/p>\n

The 78-year-old Kaplan has been called a \u201cno-nonsense<\/a>\u201d judge who has presided over a number of high-profile cases involving individuals like the \u200b\u200b45th president of the United States, Donald Trump, and Prince Andrew, Duke of York. On Dec. 28, 2022, Reuters reported<\/a> that when SBF faces judge Kaplan, the FTX co-founder is expected to submit a plea during his arraignment.<\/p>\n

\u201cSam Bankman-Fried is expected to enter a plea next week to criminal charges,\u201d Reuters contributor Jonathan Stempel wrote on Wednesday. Court documents show that SBF is scheduled to see judge Kaplan on Jan. 3, 2023, in Manhattan\u2019s federal court.<\/p>\n

The news follows the recent unsealed testimony<\/a> from Caroline Ellison, the ex-CEO of Alameda Research. Ellison is currently working with federal law enforcement officials, and in her testimony she described a number of fraudulent acts she says she participated in since 2019.<\/p>\n

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SBF is flying first class to California. But at least he’s not flying private \ud83e\udd37\u200d\u2640\ufe0f pic.twitter.com\/QHzlftE0LN<\/a><\/p>\n

\u2014 Genevieve Roch-Decter, CFA (@GRDecter) December 24, 2022<\/a><\/p>\n<\/blockquote>\n

Moreover, a number of people do not believe the court will go easy on SBF. On Dec. 22, criminal defense attorney, Brian Wice, discussed the situation<\/a> with Yahoo Finance Live and he told the host, Rachelle Akuffo, that the U.S. attorney in SDNY, Damian Williams<\/a>, has a case with \u201cvery few holes.\u201d<\/p>\n

Wice remarked that the feds wouldn\u2019t go forward unless \u201cthey are convinced that they can make their case beyond a reasonable doubt.\u201d As far as Ellison and FTX co-founder Gary Wang are concerned, Wice said they didn\u2019t have \u201cironclad plea deals,\u201d but stressed the duo will \u201cget substantial reductions in their sentences if they come in and they testify truthfully.\u201d<\/p>\n

As far as SBF is concerned, Wice remarked that he\u2019s got a \u201ctough road to hoe\u201d ahead of him. \u201cThe more cooperators against him, the tougher it will be,\u201d Wice told Akuffo. \u201cAnd right now Damian Williams sent up the bat signal saying if you\u2019ve got any guilty knowledge or involvement in this case, you better come in now or it\u2019s only going to get worse,\u201d the criminal defense attorney added.<\/p>\n

In addition to the SDNY case against SBF, a class action lawsuit filed<\/a> by FTX customers wants the remaining digital assets tied to Alameda and FTX \u201cearmarked solely for customers.\u201d<\/p>\n

The plaintiffs from the class action lawsuit detail that FTX\u2019s loans to Alameda Research, as described by ex-CEO Caroline Ellison, were \u201cin direct violation of FTX\u2019s own customer agreements and terms of service, as well as common law and basic principles of honesty and fair dealing.\u201d SBF was released on a $250 million bond on Thursday, Dec. 22, 2022, and the former FTX CEO was not asked to enter a plea.<\/p>\n

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\nTags in this story
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Alameda CEO<\/a>, bail bond<\/a>, Brian Wice<\/a>, Caroline Ellison<\/a>, Case<\/a>, Common Law<\/a>, court case<\/a>, criminal defense attorney<\/a>, Damian Williams<\/a>, federal court<\/a>, first class<\/a>, Former FTX CEO<\/a>, fraud case<\/a>, FTX co-founder<\/a>, Gary Wang<\/a>, Greg Andres<\/a>, Jonathan Stempel<\/a>, Judge<\/a>, judge Kaplan<\/a>, judge Ronnie Abrams<\/a>, Lawsuit<\/a>, Lawyers<\/a>, Lewis Kaplan<\/a>, plea<\/a>, Rachelle Akuffo<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, SBF arraignment<\/a>, SDNY<\/a>, SDNY prosecutor Damian Williams<\/a><\/div>\n<\/div>\n

What do you think about SBF heading to court to face judge Kaplan on Jan. 3, 2023? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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