Topline
Sam Bankman-Fried entered a not guilty plea to new federal charges Thursday, according to reporters present at the Manhattan federal court, sticking true to his style and donning an on-brand, unusually casual getup.
Sam Bankman-Fried struts into Manhattan federal court on Thursday.
Key Facts
Bankman-Fried, who pleaded not guilty to eight criminal counts in January related to fraud at his cryptocurrency exchange FTX and trading firm Alameda Research, entered the same plea for five additional charges Thursday, including a fresh bribery count for allegedly paying off a Chinese official $40 million in 2021.
Photographs of the former billionaire Thursday show him wearing a blue suit and brown loafers, his typical courtroom outfit, but with his own casual touch, keeping his white dress shirt untucked and letting his polka dot tie flop in the wind while entering the courthouse.
Bankman-Fried apparently made a slight wardrobe change while in the courtroom, exiting the courthouse with a tucked-in shirt following his plea, photographs show.
The appearance in court comes at a particularly stifling time for Bankman-Fried’s self-expression, as his attorneys and prosecutors agreed Monday to new bail conditions for the 31-year-old, barring him from using a smartphone, accessing the internet freely or playing his favorite video game League of Legends.
Bankman-Fried is escorted into the courthouse.
Bankman-Fried leaves court with a smile and a tucked-in shirt.
Surprising Fact
Bankman-Fried is using an $11.7 million gift he made to his father in 2021 using a loan from Alameda to pay his mounting legal fees, sources told Forbes.
Key Background
Bankman-Fried, who famously rocked shorts, sneakers and baggy T-shirts in almost every business setting before his empire collapsed, once reportedly told a colleague the “only people I think I’d wear long pants for are Congress.” But he’s made several exceptions to his rule in recent months following his extradition from the sunny Bahamas back to the U.S. as his criminal charges piled up. Bankman-Fried’s trial is slated to begin in October, with his 13 counts carrying well over 100 years in possible prison time.
Further Reading
Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His Father (Forbes)
No More Smartphone Or League Of Legends For Sam Bankman-Fried (Forbes)
U.S. Accuses Sam Bankman-Fried Of Paying $40 Million Bribe To Chinese Official (Forbes)
A Crypto Emperor’s Vision: No Pants, His Rules (New York Times)
Source: https://www.forbes.com/sites/dereksaul/2023/03/30/sam-bankman-fried-pleads-not-guilty-to-new-bribery-charge-in-an-untucked-dress-shirt-photos/