FTX founder Sam Bankman-Fried will appear in court next week.
The SBF’s hearing in the U.S. District Court will take place on January 3.
Sam Bankman-Fried To Be Taken To Court
According to court documents, the SBF will appear in court on January 3. The former CEO of FTX faces many different charges including fraud and facilitating money laundering.
SBF partners Caroline Ellison and Gary Wang have sought to cooperate with prosecutors regarding the link between FTX and trading firm Alameda Research. This seems to have made Sam Bankman-Fried’s situation even more troubling.
SBF is also facing civil lawsuits filed by the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.
SBF was extradited to the United States from the Bahamas last week and was released with $250 million in bail. The former CEO of FTX is currently under house arrest. One of the crypto industry’s biggest disappointments, SBF could face 111 years in prison.