The co-founder of failed cryptocurrency exchange FTX pleaded not guilty to a seven count indictment charging him with wire fraud, securities fraud and money laundering.
An attorney for FTX co-founder Sam Bankman-Fried said in federal court Tuesday his client has to subsist on bread, water and peanut butter because the jail he’s in isn’t accommodating his vegan diet.
Is it accurate to call him a former billionaire? My understanding is that he essentially embezzled ~$50 billion investor money and never truly owned it himself. Didn’t he take a ~$1 billion “loan” from the company for example?
I think it’s more accurate to say “he had signature authority over accounts with billions in them” not “he was a billionaire” but idk…