Market news - SBF approaches the US court to cancel out a few charges against him.
- Ex-billionaire is also facing civil cases from the SEC and CFTC.
FTX, the devastated crypto exchange firm’s ex-CEO, Sam-Bankman Fried (SBF), is approaching the US court to cancel out a few charges against him. The intelligent fraudster was arrested in the Bahamas on November 20, 2022.
The U.S. Justice Department has filed cases against SBF on eight different counts, which include conspiracy to commit wire fraud on customers and lenders, conspiracy to commit commodities fraud, and conspiracy to commit securities fraud. Apart from these, the ex-billionaire is also facing civil cases from the SEC and CFTC.
Presently, SBF’s attorney has submitted his opposition and pleaded not guilty to certain charges against him, stating them to be “baseless charges”. The SBF legal team has been making certain pleas to U.S. District Judge Lewis Kaplan from time to time, like the plea to postpone the hearing date from March to October.
The plaintiff now has up to 14 days to reply to this notion submitted by SBF. The defendant is under house arrest with his parents, who are California residents.
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