According to court documents, Sam Bankman-Fried ( SBF) is scheduled to be arraigned by federal court in the Southern District of New York (SDNY) on January 3, 2023. His disgraced FTX co-founder plans to file a petition in his fraud case before U.S. Judge Louis Kaplan. Manhattan, according to a report published by Reuters.
According to the report, FTX co-founder Sam Bankman-Fried said, “We plan to file a petition next week.”
Judge Ronnie Abrams, the judge presiding over the Sam Bankman-Fried (SBF) fraud case, recently dropped the case on grounds of conflict of interest. Abrams’ husband, Greg Andres, was reportedly an FTX advisor last year. Andres is a partner at the international law firm of White Shoes, headquartered in Davis Polk & Wardwell, New York City. After Abrams withdrew from the SBF case, the judge was replaced by Judge Louis Kaplan.
Kaplan, 78, has been called a “nonsense” judge who has presided over many high-profile cases involving individuals like the 45th president. rice field. USA, Donald Trump, Prince Andrew, Duke of York. On 28 December 2022, Reuters reportedthat the FTX co-founder is expected to file a petition during arraignment when the SBF meets with Judge Kaplan. did.
“Sam Bankman-Fried plans to file a petition for criminal charges next week,” Reuters contributor Jonathan Stempel wrote Wednesday. According to court documents, SBF plans to meet with Judge Kaplan at federal court in Manhattan on January 3, 2023.
The news follows the recent unsealed testimony of Caroline Ellison, former CEO of Alameda Her Research. Ellison is now working with federal law enforcement officials, and in her testimony describes a number of fraudulent activities she says she has participated in since 2019.
SBF flies first class to California. But at least he’s not flying private 🤷♀️ pic.twitter.com/QHzlftE0LN
— Genevieve Roch-Decter, CFA (@GRDecter) Dec 2022 Mon 24
Furthermore, many people do not think the courts will be any easier with SBF. On Dec. 22, criminal defense attorney Brian Weiss discussed the situation on Yahoo Finance Live, telling host Rachel Acuffo that SDNY’s U.S. Attorney Damien Williams said, “There are very few holes.
Weiss said the federal government would not move forward unless it was “believed beyond reasonable doubt that it could be argued.” Ellison and FTX co-founder Gary As far as Wang is concerned, Wice said he was not making an “ironproof plea bargain”, but stressed that “if they come and testify honestly, their sentences will be significantly reduced.”
As far as SBF is concerned, Weiss said he had a “hard road to the hoe” ahead of him. “And now, Damian Williams, if you have guilty knowledge or involvement in this case, you should come now or it will only get worse.”
In addition to SDNY’s lawsuit against SBF, a class action lawsuit brought by FTX’s customers also filed a lawsuit against Alameda and remaining digital assets tied to FTX. to be “dedicated to customers”.
Class action plaintiffs allege that FTX’s financing of Alameda Research, as former CEO Caroline Ellison explained, “directly violates FTX’s own customer agreements and terms of service, as well as common law.” ”, he elaborated. and basic principles of honesty and fair dealing. SBF said he was released on her $250 million bond on Thursday, Dec. 22, 2022, and the former FTX CEO was not asked to enter a petition.
Image Credits: Shutterstock, Pixabay, Wiki Commons