Following last year’s collapse into bankruptcy, FTX pleaded not guilty to as many as 13 counts of criminal fraud. In light of criminal charges threatening significant jail time, Sam Bankman-Frieds’ lawyers put up a strong defense. However, a federal judge ruled the defenses to be moot or lacking in merit. This comes on the heels of a sharp downturn in the crypto-currency market following the mass fraud and ensuing bankruptcy of such a prominent promotor.
Source: Judge denies Sam Bankman-Fried’s motion to dismiss charges | CNN Business