Sam Bankman-Fried pleads not guilty to fraud and other charges

Nearly two weeks after he was released by a Manhattan judge on a $250 million bond and ordered to stay with his parents in Palo Alto, California, Sam Bankman-Fried, the disgraced cryptocurrency executive, returned to New York and pleaded not guilty Tuesday to charges that he engaged in widespread fraud, paving the way for a possible trial.

Bankman-Fried, 30, appeared in U.S. District Court in Manhattan, where he faces charges stemming from the implosion of FTX, the cryptocurrency exchange he founded and led. Its collapse resulted in billions of dollars in customer losses.