Sam Bankman-Fried is expected to plead not guilty on Tuesday, | Business Insider

Sam Bankman-Fried is expected to plead not guilty on Tuesday, initiating a legal back-and-forth that former federal prosecutors say is unlikely to result in a lenient deal from the Justice Department.

The disgraced FTX founder is accused of defrauding investors and is facing eight criminal charges. A not guilty plea would mean the government continues its investigation.

Follow @BusinessInsider for the latest on the Sam Bankman-Fried and FTX saga.