Disgraced FTX Boss Sam Bankman-Fried Asks Court to Dismiss Criminal Charges

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during the Institute of International Finance annual membership meeting in Washington, DC, US, on Thursday, Oct. 13, 2022. This year’s conference theme is “The Search for Stability in an Era of Uncertainty, Realignment and Transformation.” Photographer: Ting Shen/Bloomberg via Getty Images

In the Monday filing to the U.S. District Court for the Southern District of New York, Bankman-Fried’s lawyers asked for the dismissal of 10 of the 13 charges made against him.after Bankman-Fried told investors that the cryptocurrency exchange was facing a major shortfall of up to $8 billion from withdrawal requests and needed emergency funding.

Around that time, the FTX founder’s hedge fund, Alameda Research, had also shut down. Shortly after that, FTX filed for bankruptcy, and Bankman-Fried wasHe pleaded not guilty to charges of wire fraud and money laundering, and was released on a $250 million bond, which was co-signed by his parents and two anonymous guarantors.in a new indictment that Bankman-Fried paid over $40 million in bribes to at least one Chinese government official.more than $7.

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