Judge Lewis Kaplan set a date for the crypto exchange founder after US prosecutors said they would produce all evidence for the case in the next four weeks.
pleaded not guilty to criminal charges on Tuesday US time. He is set to face a trial in October, which is expected to be one of the most high-profile white-collar fraud trials in recent years.
Assistant US Attorney Danielle Sassoon summarised the evidence against Mr Bankman-Fried, noting that from the beginning FTX had a unique relationship with Alameda that allowed it to receive preferential treatment.The US proposed an addition bail condition for Mr Bankman-Fried, asking the judge to prohibit him from accessing or transferring any FTX or Alameda Research assets.
The group will be led by the office’s chief counsel, Andrea Griswold, who serves as a co-chief of the Securities and Commodities Fraud Task Force, and will be supervised by the heads of the securities and commodities fraud unit with consultation by the heads of the public corruption and money laundering and transnational criminal enterprise units.
“Even if you have a strong evidential case going to trial, it does carry some risks,” Mr Jennings said. “If the case is going to take weeks, it does take a very serious commitment of government resources. So the government, in general, is always open to reaching some agreement if it avoids the cost of trial.”Pleading not guilty also opens up discovery channels.
Negotiating a plea is one thing, but Mr Bankman-Fried’s overall value as cooperator is somewhat diminished by the fact he is at the top of the FTX hierarchy.
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