FTX Founder Sam Bankman-Fried Pleads Not Guilty To Fraud Charges

FTX founder and former CEO Sam Bankman-Fried pleaded not guilty to criminal charges that he misappropriated billions of dollars, defrauding customers and investors in his now-bankrupt FTX cryptocurrency exchange,

Bankman-Fried entered his plea to eight criminal counts, including wire fraud and conspiracy to commit money laundering and violating campaign finance laws, before U.S. District Judge Lewis Kaplan in Manhattan federal court.

Two Bankman-Fried's colleagues – Caroline Ellison, who headed up Alameda, and FTX co-founder Gary Wang – pleaded guilty to seven and four criminal charges, respectively, and agreed to cooperate with prosecutors.