{"id":16111,"date":"2023-01-04T15:36:53","date_gmt":"2023-01-04T15:36:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/former-ftx-ceo-sam-bankman-fried-pleads-not-guilty-to-criminal-charges-bond-signees-names-remain-sealed-bitcoin-news\/"},"modified":"2023-01-04T15:36:53","modified_gmt":"2023-01-04T15:36:53","slug":"former-ftx-ceo-sam-bankman-fried-pleads-not-guilty-to-criminal-charges-bond-signees-names-remain-sealed-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/former-ftx-ceo-sam-bankman-fried-pleads-not-guilty-to-criminal-charges-bond-signees-names-remain-sealed-bitcoin-news\/","title":{"rendered":"Former FTX CEO Sam Bankman-Fried Pleads Not Guilty to Criminal Charges, Bond Signees’ Names Remain Sealed\u00a0 \u2013 Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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On Jan. 3, 2023, the former FTX CEO Sam Bankman-Fried (SBF) pleaded not guilty to eight criminal charges that involve two counts of wire fraud and six counts of conspiracy. In addition to the not guilty plea, SBF\u2019s judge Lewis Kaplan granted the defendant\u2019s request to keep the names of his $250 million bond signees redacted. <\/strong><\/p>\n

Sam Bankman-Fried Pleads Not Guilty to Criminal Charges and Fights to Keep Bond Signees Anonymous in Court<\/h2>\n

Disgraced FTX co-founder Sam Bankman-Fried (SBF) said he\u2019s not guilty of the eight charges against him when he attended his court hearing in front of judge Lewis Kaplan on Tuesday. When SBF\u2019s entourage arrived outside the Manhatten courthouse, his SUV was swarmed by the press and reports<\/a> say the crowd was so large \u201cBankman-Fried\u2019s mother was unable to exit the vehicle.\u201d SBF\u2019s bodyguard and security team then escorted the former FTX executive into the courthouse.<\/p>\n

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FTX co-founder Sam Bankman-Fried on Jan. 3, 2023.<\/figcaption><\/figure>\n

Alongside pleading not guilty to the charges against him, SBF\u2019s attorneys filed a motion in order to keep the names of the two signees who signed SBF\u2019s $250 million bond sealed. The attorneys insisted that SBF\u2019s parents were already dealing with risks from their son\u2019s case and the legal team said it wants to make sure the bail bond\u2019s guarantors don\u2019t suffer the same fate. SBF\u2019s bond was interesting because the former FTX executive didn\u2019t have to pay any money at all. His parents had to secure the bond with their house in Palo Alto and four people co-signed the bond.<\/p>\n

The deal is if SBF does not appear in court or if he breaks his bail conditions, his parent\u2019s Palo Alto home could be on the hook, and the signees could be forced to cover the rest of the bond. Judge Lewis Kaplan approved the motion to keep the two signees names sealed even though there were filings opposing the sealing. Matthew Russell Lee from the Inner City Press said<\/a> that usually \u201cco-signers\u2019 names and info, including income, are routinely made public in the SDNY Magistrates Court, for less privileged defendants.\u201d<\/p>\n

Russell Lee detailed<\/a> that the Inner City Press filed an opposition to the sealing and he also mentioned that judge Kaplan set a new bail condition for the defendant. SBF is now not allowed to access any funds associated with FTX or Alameda Research while on house arrest. \u201c[U.S. prosecutors] didn\u2019t ask for no Internet condition, as they ask for in some other cases,\u201d Russell Lee said. After SBF\u2019s not guilty plea, judge Kaplan scheduled the trial to tentatively begin on Oct. 2, 2023.<\/p>\n

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\nTags in this story
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$250 million bond<\/a>, Alameda Research<\/a>, attorneys<\/a>, bail bond<\/a>, bail condition<\/a>, ceo<\/a>, co-signers<\/a>, conspiracy<\/a>, Court Hearing<\/a>, criminal charges<\/a>, entourage<\/a>, ftx<\/a>, Funds<\/a>, guarantors<\/a>, House arrest<\/a>, Inner City Press<\/a>, Internet condition<\/a>, judge Lewis Kaplan<\/a>, Manhattan Courthouse<\/a>, Manhatten courthouse<\/a>, not guilty plea<\/a>, October 2 2023.<\/a>, opposition<\/a>, Palo Alto<\/a>, Press<\/a>, redacted<\/a>, Sam Bankman-Fried<\/a>, sbf<\/a>, SDNY Magistrates Court<\/a>, security team<\/a>, Trial<\/a>, Wire Fraud<\/a><\/div>\n<\/div>\n

What do you think about SBF pleading not guilty on Tuesday and the judge allowing the defendants to keep the bond signees\u2019 names sealed? 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, Editorial photo credit: Ed Jones | AFP | Getty Images<\/em><\/p>\n

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