- Written by Mariko Oi
- business reporter
Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, is “living on bread and water” in prison, his lawyer says.
Ahead of his trial, the prison where he is being held does not offer the vegan diet he requested, his lawyer said.
Last year, Bankman-Fried was indicted on fraud charges following the FTX bankruptcy.
At a court hearing in New York on Tuesday, Bankman-Fried pleaded not guilty to seven criminal charges contained in the new indictment.
Former billionaire attorney Mark Cohen said the lack of enough food is hampering his clients’ ability to prepare for the trial, which is set to begin in October.
Cohen also said Bankman-Fried was not being given Adderall, a drug for attention deficit hyperactivity disorder (ADHD), and that supplies of Msam, a depression drug, were in short supply. Stated.
Justice Sarah Netburn said she would ask the U.S. Department of Justice Prison Service, which runs the prison, to address Bankman-Fried’s medication problem.
Judge Netburn was “pretty confident” that the facility offered vegetarian food, but added he wasn’t sure if vegan food was available.
In a statement, the Bureau of Prisons said inmates had access to “appropriate” medical care, medicines and hot meals.
Bankman-Fried was brought to court wearing leg restraints and a beige uniform.
In the new indictment, Bankman-Fried was charged with seven counts of fraud and conspiracy in connection with the November 2022 FTX bankruptcy.
Prosecutors have accused him of stealing billions of dollars from FTX client funds to cover losses at his hedge fund, Alameda Research.
Bankman-Fried admitted that FTX had poor risk management, but denied stealing funds.
FTX was once the second largest cryptocurrency exchange in the world, valued at $32 billion (£25 billion).
The company shocked the cryptocurrency market by filing for bankruptcy protection on November 11.