Bankman-Fried’s not guilty plea sets up path to fraud trial

By Ava Benny-Morrison

03 Jan 2023 · 3 min read

Editor's Note

FTX's co-founder Sam Bankman-Fried is planning to plead not guilty to all criminal charges. Bloomberg shows how this gives him more time to plan his next move and may also lead to a lengthy trial.

Disgraced crypto mogul Sam Bankman-Fried's plan to plead not guilty to criminal charges will lay the foundation for one of the most high-profile white collar fraud trials in recent years.

While the plea, which will likely be entered Tuesday, was not unexpected, it buys the 30-year-old more time, legal experts say. Bankman-Fried will get a better idea on the evidence prosecutors have against him and plan his next move - negotiate or fight. The plea puts the case on track for a lengthy trial, which could span several weeks and not start for at least a year.

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