SBF Denies Allegations of Fraud and Money Laundering Related to FTX Bankruptcy

Odaily Planet Daily News SBF pleaded not guilty to fraud and money laundering charges related to the FTX crash last year when he appeared in court on Tuesday. SBF was arraigned in the Southern District of New York after a new indictment accused it of using client funds to buy personal real estate, make campaign contributions and more. Those charges came from the original indictment, filed last December, but added the campaign finance charges to others after prosecutors said they could not clearly bring charges due to treaty obligations with the Bahamas. Prosecutors are asking the court to order SBF's defense team to share more information about his proposed "counsel's advice" defense. (CoinDesk) Earlier news, the U.S. Department of Justice filed an updated version of the indictment against SBF in August, including charges that it violated campaign contribution laws as part of a wire fraud scheme. The SBF illegally misappropriated deposits from FTX clients ahead of the 2022 U.S. midterm elections, resulting in more than $100 million being used for “campaign contributions to Democrats and Republicans seeking to influence cryptocurrency regulation,” the Justice Department said. Prosecutors also said some of the political donations were made in the name of FTX executives in an effort to conceal the origin of the donation funds.