Sam Bankman-Fried will likely plead not guilty to fraud in next week’s hearing according to The Wall Street Journal.
Breaking: Sam Bankman-Fried is likely to plead not guilty to fraud at a hearing next week, a person familiar with the matter said https://t.co/upmBnomLMS
— The Wall Street Journal (@WSJ) December 30, 2022
Former FTX CEO Sam Bankman-Fried’s case was assigned to Bill Clinton-appointed District Judge Lewis Kaplan.
TGP reported that after allowing SBF to return home to his parents’ house before Christmas that the judge who set him free next recused herself from the case because of her husband’s conflicts.
Judge Kaplan is part of the Deep State Democrat gang.
Judge Kaplan has allowed E. Jean Carroll to sue President Trump for alleged rape. A Case President Trump has adamantly denied.
Sam Bankman-Fried’s ex-girlfriend Caroline Ellison, Alameda CEO, pleaded guilty to charges of fraud and conspiracy last week.
According to US Attorney Damian Williams, Caroline Ellison is cooperating with prosecutors in the Southern District of New York.
The SDNY also charged FTX co-founder Gary Wang with fraud.
In a separate complaint, the SEC charged Ellison and Wang with securities fraud.
Caroline Ellison admitted she and Sam Bankman-Fried conspired to mislead FTX investors and customers.
Ellison said her former company Alameda had access to FTX’s cash which ultimately afforded her an unlimited line of credit with no oversight.
Because of this arrangement, Alameda was able to ‘borrow’ money from FTX without having to put up any collateral or be subject to margin calls.
“From 2019 through 2022, I was aware that Alameda was provided access to a borrowing facility on FTX.com, the cryptocurrency exchange run by Mr. Bankman-Fried,” Ellison said. “In practical terms, this arrangement permitted Alameda access to an unlimited line of credit without being required to post collateral, without having negative balances and without being subject to margin calls on FTX.com’s liquidation protocols.”
