Former FTX CEO Sam Bankman-Fried (SBF), at present free on a $250 million bail bond, will reportedly plead not responsible to the alleged FTX and Alameda-related monetary frauds in court docket on Jan. 3.

SBF was arrested within the Bahamas on the request of the U.S. authorities underneath suspicion of defrauding buyers and misappropriation of funds held on the FTX crypto change. Following a court docket listening to on Dec. 22, SBF was launched on bail and is slated to look on court docket on Jan.3 earlier than U.S. District Choose Lewis Kaplan in Manhattan.

Throughout the listening to, SBF is anticipated to enter a plea of not responsible to the felony fees, in keeping with a Reuters report. On Dec. 13, the SEC charged the previous FTX CEO with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Alternate Act of 1934.

Defendants have the best to plead not responsible throughout preliminary court docket hearings and are allowed to alter their plea in due time.

Sam Bankman-Fried discovered ‘chilling’ in JFK airport lounge on $250M bail bond

On Dec. 28, a motion of funds from Alameda wallets raised suspicions about SBF’s involvement within the anomaly. Nonetheless, the entrepreneur was fast to distance himself from the alleged rumors.

None of those are me. I am not and could not be shifting any of these funds; I haven’t got entry to them anymore.https://t.co/5Gkin30Ny5

— SBF (@SBF_FTX) December 30, 2022

SBF’s tweet was in response to a Cointelegraph report {that a} pockets deal with had acquired over 600 Ether (ETH) from wallets that belonged to Alameda.