Bankman-Fried Pleads Not Guilty to All Fraud Charges
- Bankman-Fried pleaded not guilty to the fraud charges during Tuesday’s hearing.
- Bankman-Fried’s attorneys requested the court grant him access to an internet-enabled laptop to enable him to review documents.
Former FTX founder and CEO Sam Bankman-Fried has once again maintained his not-guilty plea to all charges of money laundering and fraud. During a court appearance on Tuesday, prosecutors, in a new hearing, accused the 31-year-old of exploiting customer funds to finance his extravagant lifestyle and make heavy political donations in the U.S.
The charges in Tuesday’s court proceedings, which were heard by Magistrate Judge Sarah, have already been filed in the original indictment from December 2022. The December charges also accused Bankman-Fried of violating US campaign laws. However, prosecutors withdrew the campaign finance charge due to an extradition treaty with the Bahamas.
Bankman-Fried appeared in court for the first time since his bail was revoked on August 11. The former crypto billionaire shared a moment with his mother, Barbara Fried, who was watching the proceedings, before hurriedly joining his attorneys.
Bankman-Fried’s attorneys request better living conditions for him
Bankman-Fried’s latest court appearance comes amid his legal team’s request to allow him to prepare for the October trial outside the jail and also access a laptop with internet services. Christian Everdell, one of Bankman-Fried’s lawyers, claimed during Tuesday’s hearing that his client’s Sixth Amendment rights were being violated by the court’s refusal to grant him access to meet with his attorneys.
Everdell argued that Bankman-Fried needed an internet-enabled laptop to review documents related to the case, adding that “there is no way for him to effectively communicate his work product and his analyses to us.”
Bankman-Fried’s other counsel, Mark Cohen, concentrated mostly on the living conditions at Brooklyn’s Metropolitan Detention Center, where the former FTX CEO has been detained since August 11. Cohen claimed that the 31-year-old is surviving on a diet of bread and water due to the unavailability of vegan options at the prison.
In addition, Cohen complained about his client’s battle with anxiety and the prison’s failure to provide him with Adderall, a common medication used to treat attention-deficit/hyperactivity disorder. Bankman-Fried’s defense team also claimed that the 31-year-old was running low on his antidepressant, EMSAM.
The attorneys argued that Bankman-Fried’s lack of access to his lawyers and his poor living conditions in prison make it impossible to prepare him for his trial in October. Responding to the requests, Netburn noted that she will make a request to the Bureau of Prisons, which oversees the facility, and the U.S. Justice Department to address the problems with Bankman-Fried’s medicine.
Today’s court events came hours after Judge Lewis Kaplan granted one-time permission for Bankman-Fried to meet his lawyers for seven hours outside of jail. In an August 21 filing with the United States District Court for the Southern District of New York, Kaplan allowed Bankman-Fried access to “one Internet-enabled laptop and one WiFi device” while meeting with his attorneys. Kaplan also ordered the prison service to provide Bank-Fried with the required medications.
Judge Kaplan revoked Bankman-Fried’s bail after he disclosed the personal writings of Caroline Ellison to a New York Times reporter. Ellison was Bankman-Fried’s former lover and colleague and has volunteered to testify against him in court.
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