Previous FTX CEO Sam Bankman-Fried (SBF), presently complimentary on a $250 million bail bond, will supposedly plead not guilty to the supposed FTX and Alameda-related financial scams in court on Jan. 3.

SBF was jailed in the Bahamas at the demand of the U.S. government under suspicion of defrauding financiers and misappropriation of funds held on the FTX crypto exchange. Following a court hearing on Dec. 22, SBF was launched on bail and is slated to appear on court on Jan. 3 before U.S. District Judge Lewis Kaplan in Manhattan.

Throughout the hearing, SBF is expected to go into a plea of not guilty to the criminal charges, according to a Reuters report. On Dec. 13, the SEC charged the previous FTX CEO with violating the anti-fraud arrangements of the Securities Act of 1933 and the Securities Exchange Act of 1934.

Defendants can plead not guilty during preliminary court hearings and are allowed to change their plea in due time.

Related: Sam Bankman-Fried discovered ‘cooling’ in JFK airport lounge on $250M bail bond

On Dec. 28, a movement of funds from Alameda wallets raised suspicions about SBF’s participation in the anomaly. Nevertheless, the entrepreneur was quick to distance himself from the supposed reports.

SBF’s tweet remained in response to a Pandoraland report that a wallet address had actually received over 600 Ether(ETH)from wallets that came from Alameda. #Business #United States #Court #Sam Bankman-Fried #FTX Token #FTX #Regulation Related News The biggest crypto break-ins of perpetuity What to anticipate from crypto the year after FTX Bahamas