The federal criminal case against the Southern Poverty Law Center in the Middle District of Alabama remains in its early stages after an April 2026 indictment on 11 counts of wire fraud, bank fraud, and money laundering conspiracy, with a superseding indictment following in June. The charges center on allegations that the organization used donor funds to pay informants inside extremist groups via shell accounts while making misleading representations. The SPLC entered a not guilty plea, its motion to dismiss on vindictive prosecution grounds was denied in August, and a jury trial is scheduled to begin in October 2026. Recent developments include additional charges against a former employee and ongoing congressional scrutiny, yet no verdict has been reached. Traders appear to view conviction by year-end as unlikely given the procedural timeline, defense resources, and contested nature of the evidence.