Sam Bankman-Fried pleads not guilty to new federal charges

Sam Bankman-Fried, the founder of crypto currency trading platform FTX, pleaded not guilty to charges of securities fraud, commodities fraud and conspiring to pay a $40 million bribe to at least one Chinese government official.

Posted 3:13 p.m. Mar 30, 2023 — Updated 3:13 p.m. Mar 30, 2023

Kara Scannell

, CNN

CNN — Sam Bankman-Fried, the founder of crypto currency trading platform FTX, pleaded not guilty to charges of securities fraud, commodities fraud and conspiring to pay a $40 million bribe to at least one Chinese government official.

An attorney for Bankman-Fried entered the not guilty plea on behalf of his client, who was seated beside him in court in New York on Thursday. The attorney, Mark Cohen, said they would contest the charges that were brought after Bankman-Fried's extradition from the Bahamas to the US in December.

Bankman-Fried has been indicted on 13 charges in what prosecutors have called one of the largest financial frauds in US history.

This story is developing. It will be updated.

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