Revelations 18:23:’For the merchants were the great men of the earth; for by thy sorceries were all nations deceived.’

Important Takeaways:

• Sam Bankman-Fried pleads not guilty in sprawling crypto fraud case
• Tuesday was Bankman-Fried’s second appearance in Manhattan federal court since his extradition from the Bahamas.
• The alleged crypto crook is accused in an eight-count indictment of swindling investors and customers of his popular currency exchange, FTX, by diverting cash invested in the platform to his hedge fund Alameda Research and for lavish personal expenses.
• The indictment also charges Bankman-Fried with conspiracy to violate campaign finance laws and conspiracy to commit money laundering as part of his alleged sprawling fraud operation.
• The suspect could face up to 115 years behind bars if convicted of all charges, the feds said
• After the suspect’s indictment on Dec. 13, federal prosecutors revealed that two of Bankman-Fried’s co-conspirators had pleaded guilty to fraud charges for their roles in the scheme and agreed to cooperate with federal investigators who are probing the crypto operation.
• [Bankman-Fried] His lawyer entered his not-guilty plea in court.
• About 15 minutes before the start of Bankman-Fried’s arraignment, US Attorney Damian Williams announced that his office has created a special “FTX Task Force” to deal with “matters related to the FTX collapse” — including trying to recover victims’ swindled assets.

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