The founder of FTX – Sam Bankman-Fried (SBF) – has reportedly pleaded not guilty in a Manhattan federal court to seven criminal charges in a new indictment. This was his first appearance since his bond was revoked earlier this month, leading to his imprisonment.

SBF is expected to spend the days until his trial in MDC Brooklyn: a jail located in New York City notorious for its unpleasant living conditions. The lawyer of the 31-year-old American – Mark Cohen – claimed that his client survives on “bread and water” because the prison refused to honor his vegan diet and medication requirements.

No Change of the Plea

As reported by Reuters, the fallen crypto mogul has once again pleaded not guilty to several fraud and conspiracy charges that allege him as the main culprit behind the FTX collapse and the colossal investor losses it brought.

Prosecutors have previously accused him of stealing billions of dollars from users and orchestrating a massive scam. While SBF acknowledged inadequate risk management at FTX, he denied draining clients’ funds. 

It is worth mentioning that the new indictment did not charge Bankman-Fried with conspiring to violate US campaign finance laws since the authorities of the Bahamas objected to that matter. 

Nonetheless, American prosecutors remain determined to show that he allegedly donated approximately $100 million to US political campaigns, which was a key part of his probable fraudulent scheme. 

SBF pleaded not guilty in January and has not changed his stance ever since. Unlike him, Caroline Ellison (former CEO of Alameda Research and his ex-lover) and Gary Wan