FTX’s founder Sam Bankman-Fried is expected to enter a plea on two counts of wire fraud and six counts of conspiracy on 3 January 2023 before US District Judge Lewis Kaplan in Manhattan federal court, who is assigned to replace the original judge due to the conflict of interest. The FTX’s founder is accused of misappropriating clients’ deposits to finance Alameda Research, purchase real estate and make political contributions. He denied any criminal liability before he was arrested on 12 December. He was released on a $250 million bond and is living with his parents in California.

Source: https://www.reuters.com