U.S. prosecutors on Monday said they opposed a motion by former cryptocurrency billionaire Sam Bankman-Fried to dismiss criminal charges accusing him of stealing billions of dollars from customers to plug losses at his hedge fund. Bankman-Fried, the 31-year-old founder of FTX Trading, has pleaded not guilty in Manhattan federal court to 13 counts of fraud, conspiracy, making illegal campaign contributions and foreign bribery. On May 8, Bankman-Fried urged U.S. District Judge Lewis Kaplan to dismiss most of the counts, saying prosecutors charged him in a "rush to judgment" after several prominent crypto companies went bankrupt in 2022, including his own Alameda Research.
Highlights
- U.S.
- prosecutors oppose motion by Sam Bankman-Fried to dismiss criminal charges.
- The 31-year-old founder of FTX Trading, has pleaded not guilty in Manhattan federal court to 13 counts of fraud, conspiracy, making illegal campaign contributions and foreign bribery.
- Prosecutors say they oppose motion because he stole billions of dollars from customers to plug losses at his hedge fund.
- He has said FTX’s risk management was subpar, but has denied stealing funds.
- His trial is scheduled for Oct.
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