FTX founder Sam Bankman-Fried pleaded not guilty to criminal charges Tuesday and is set to face a trial in October, a courtroom showdown likely to be one of the highest-profile white-collar fraud cases in recent years.
Bankman-Fried appeared in U.S. District Court in New York wearing a blue suit, white shirt and blue tie, and sitting at the defense table between his lawyers, Mark Cohen and Christian Everdell. U.S. District Judge Lewis Kaplan set a trial date for Oct. 2, after U.S. prosecutors said they expect to produce all evidence for the case in the next four weeks.
While the plea 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. The plea puts the case on track for a lengthy trial, which could last at least four weeks.
