Disgraced FTX founder Sam Bankman-Fried will be arraigned by the U.S. District Court for the Southern District of New York next week.
Court documents set Bankman-Fried’s arraignment on Jan. 3. Bankman-Fried faces two charges of wire fraud and six counts of conspiracy. Reuters first reported on the court update.
Associates of Bankman-Fried, Caroline Ellison and Gary Wang, are already cooperating with prosecutors on their roles in misleading investors about the nature of the relationship between FTX and linked trading firm Alameda Research. Those pleas likely provided the court with information about Bankman-Fried’s activities.
Bankman-Fried also faces civil cases from federal regulators, the Commodity Futures Trading Commission, and the Securities and Exchange Commission.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://www.theblock.co/post/198286/bankman-fried-arraignment-in-new-york-set-for-next-week?utm_source=rss&utm_medium=rss