According to the Wall Street Journal, Sam Bankman-Fried will likely plead not guilty at his arraignment in the U.S. Court tomorrow. He was charged on Dec. 11, a month after FTX filed for Chapter 11, with several counts of wire fraud or conspiracy to commit fraud and money laundering. If found guilty, he could face 115 years in jail. Two of his closest former associates, Caroline Ellison, former CEO of sister-trading firm Alameda Research and Gary Wang, co-founder of FTX, pled guilty to multiples counts of fraud and are currently working the authorities.
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