FTX Fraud: Indian-Origin Engineer Nishad Singh Pleads Guilty To Criminal Charges
1 year, 9 months ago

FTX Fraud: Indian-Origin Engineer Nishad Singh Pleads Guilty To Criminal Charges

ABP News  

Indian-origin Nishad Singh, who was the former director of engineering at the now-bankrupt cryptocurrency exchange FTX, on Tuesday pleaded guilty to US criminal charges and extended cooperation with the investigation into FTX founder and former CEO Sam Bankman-Fried. The 27-year-old engineer said he was aware by mid-2022 that Bankman-Fried's hedge fund, Alameda Research, was borrowing FTX customer funds, and customers were not aware. Among the charges levelled against him, Singh pleaded guilty to one count of wire fraud, three counts of conspiracy to commit fraud, one count of conspiracy for being involved in money laundering along with one more count of conspiracy to defraud the United States by violating campaign finance laws. Singh moved back from the Bahamas shortly after FTX imploded in November partly to support the US investigation, prosecutor Danielle Sassoon said at Tuesday's hearing.

Charges Singh Ftx Criminal Charges Engineer Nishad Singh  singh  bankmanfried  founder  engineering  read  nishad  fraud  pleads  engineer  criminal  guilty  charges  pleaded  indianorigin  ftx

History of this topic

FTX's Gary Wang avoids prison after cooperating in crypto fraud case
1 month ago

FTX's Gary Wang avoids prison after cooperating in crypto fraud case

Salon  

Gary Wang, co-founder and chief technology officer of FTX, was sentenced to no time in prison on Wednesday, two years after the cryptocurrency firm collapsed and faced accusations of defrauding customers. Wang testified over several days last year at the trial of FTX founder Sam Bankman-Fried, who was convicted of fraud and conspiracy and sentenced to 25 years in prison. …

Former FTX Lieutenant Nishad Singh Gets Probation in Crypto Fraud Case
Top News
1 month, 3 weeks ago

Former FTX Lieutenant Nishad Singh Gets Probation in Crypto Fraud Case

Live Mint  

Former FTX Lieutenant Nishad Singh avoids prison time in the FTX case. Singh, one of the three top executives who turned on Bankman-Fried, pleaded guilty to a six count indictment, including fraud and campaign finance law violations, in the hope of receiving a lighter punishment. Singh spent a lot of time thinking about what he should have done differently and …

Ex-FTX Exec's Cooperation Wins Him a Mercy Sentence
1 month, 3 weeks ago

Ex-FTX Exec's Cooperation Wins Him a Mercy Sentence

Associated Press  

An ex-FTX executive, Nishad Singh, who testified against Sam Bankman-Fried at his trial, was spared a prison sentence by a federal judge. Singh provided information that helped prosecutors learn about crimes they might otherwise have never discovered, including campaign finance violations and private conversations between Bankman-Fried and his associates.

Former FTX Exec Nishad Singh Gets Probation in $8bn Fraud Case
1 month, 3 weeks ago

Former FTX Exec Nishad Singh Gets Probation in $8bn Fraud Case

Al Jazeera  

Former FTX executive Nishad Singh has been spared prison time by a judge for his role in the theft by his imprisoned former boss of about $8bn in customer funds from the now-bankrupt exchange. Singh testified as a prosecution witness in the trial that led to Bankman-Fried’s conviction, and prosecutors had urged leniency for the 29-year-old in light of his …

How Sam Bankman-Fried’s ex-girlfriend helped topple the crypto king
3 months ago

How Sam Bankman-Fried’s ex-girlfriend helped topple the crypto king

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. “He said that he was a …

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing
3 months, 2 weeks ago

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing

Associated Press  

NEW YORK — Caroline Ellison, a former top executive in FTX founder Sam Bankman-Fried ’s collapsed cryptocurrency empire and his former girlfriend, is seeking no prison time at her sentencing later this month. The lawyers cited her immediate and extensive cooperation with U.S. authorities when FTX and related companies collapsed in November 2022, and they noted that the court’s Probation …

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing
3 months, 2 weeks ago

Key witness in trial of FTX founder Sam Bankman-Fried seeks no prison time at upcoming sentencing

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Caroline Ellison, a former top …

Former FTX executive Ryan Salame sentenced to 7.5 years in US prison
6 months, 3 weeks ago

Former FTX executive Ryan Salame sentenced to 7.5 years in US prison

Al Jazeera  

Ryan Salame pled guilty to tens of millions of dollars in unlawful campaign donations to boost causes supported by his boss. Ryan Salame, the former co-CEO of FTX’s Bahamian subsidiary and a top lieutenant of the bankrupt cryptocurrency exchange’s founder, Sam Bankman-Fried, has been sentenced to 90 months in prison, United States federal prosecutors have said. Prosecutors say Salame, Bankman-Fried …

FTX’s Sam Bankman-Fried appeals conviction and 25-year sentence for fraud
8 months, 1 week ago

FTX’s Sam Bankman-Fried appeals conviction and 25-year sentence for fraud

Al Jazeera  

Bankman-Fried faces steep odds in bid to overturn conviction stemming from the collapse of his cryptocurrency exchange. FTX founder Sam Bankman-Fried has appealed his conviction and 25-year prison sentence for stealing billions of dollars from customers of his defunct cryptocurrency exchange. “I made a series of bad decisions.” US District Court Judge Lewis Kaplan said that Bankman-Fried had not shown …

Sam Bankman-Fried sentenced to 25 years in jail over FTX fraud
8 months, 3 weeks ago

Sam Bankman-Fried sentenced to 25 years in jail over FTX fraud

ABC  

In short: Former FTX boss Sam Bankman-Fried has been sentenced to 25 years in jail. Former FTX boss Sam Bankman-Fried has been sentenced to 25 years in jail. Sam Bankman-Fried has been sentenced to 25 years in jail for stealing $US8 billion from customers of the now-bankrupt FTX exchange he founded. A jury found 32-year-old Bankman-Fried guilty in November on …

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX
8 months, 3 weeks ago

A timeline of the downfall of Sam Bankman-Fried and the colossal failure of FTX

Associated Press  

Sam Bankman-Fried went from cryptocurrency golden boy to the face of the industry’s collapse. 2022 Nov. 2: Coindesk reports Alameda Reseach, Bankman-Fried’s cryptocurrency trading firm, holds a large amount of FTT, a token issued by FTX, suggesting the finances of the two are intertwined and Alameda faces a cash crunch. Nov. 17: Ray gives a damning description of FTX’s operations …

The Bankman-Fried verdict, explained
8 months, 3 weeks ago

The Bankman-Fried verdict, explained

Associated Press  

NEW YORK — Sam Bankman-Fried co-founded the FTX crypto exchange in 2019 and quickly built it into the world’s second most popular place to trade digital currency. FTX had two lines of business: a brokerage where customers could deposit, buy, and sell cryptocurrency assets on the FTX platform, and an affiliated hedge fund known as Alameda Research, which took speculative …

Sam Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud
8 months, 3 weeks ago

Sam Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud

The Hindu  

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on March 28 for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall. U.S. District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried's claim that FTX customers …

FTX founder Sam Bankman-Fried sentenced to 25 years for multi-billion dollar crypto fraud
8 months, 3 weeks ago

FTX founder Sam Bankman-Fried sentenced to 25 years for multi-billion dollar crypto fraud

Hindustan Times  

Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall. U.S. District Judge Lewis Kaplan handed down the sentence at a Manhattan court hearing after rejecting Bankman-Fried's claim that FTX customers did …

Sam Bankman-Fried 25-year sentence: Why the judge sentenced the founder of FTX so harshly.
8 months, 3 weeks ago

Sam Bankman-Fried 25-year sentence: Why the judge sentenced the founder of FTX so harshly.

Slate  

A federal judge sentenced Sam Bankman-Fried to 25 years in prison on Thursday. Before imposing the sentence, Judge Lewis Kaplan dismissed the most potent arguments by Bankman-Fried’s defense team and made clear his anger at Bankman-Fried’s behavior leading up to and during his trial. There was another plausible reason for lowering the sentence, though: A recent rebound in crypto prices …

FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison
54 years, 11 months ago

FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison

Wired  

A US federal judge in the Southern District of New York has sentenced Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, to 25 years in prison. In a court filing, the US government described the affair as “one of the largest financial frauds in history.” Bankman-Fried had demonstrated “unmatched greed and hubris” and a “brazen disrespect for the rule of …

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
8 months, 3 weeks ago

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

Associated Press  

NEW YORK — Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud on hundreds of thousands of customers that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. Assistant U.S. Attorney Nicolas Roos had recommended a prison sentence of 40 to 50 years, saying …

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison
8 months, 3 weeks ago

Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison

LA Times  

Crypto entrepreneur Sam Bankman-Fried was sentenced Thursday to 25 years in prison for a massive fraud that unraveled with the collapse of FTX, once one of the world’s most popular platforms for exchanging digital currency. And it’s not a trivial risk at all.” He added that it was “for the purpose of disabling him to the extent that can appropriately …

Ex-crypto mogul Sam Bankman-Fried due to be sentenced for defrauding FTX
8 months, 3 weeks ago

Ex-crypto mogul Sam Bankman-Fried due to be sentenced for defrauding FTX

Al Jazeera  

The 32-year-old illegally used money from depositors of one of the world’s most popular platforms for trading digital currency to cover his expenses. Former crypto mogul Sam Bankman-Fried is due to be sentenced for his role in the 2022 collapse of FTX, once one of the world’s most popular platforms for trading digital currency. “Mr Bankman-Fried continues to live a …

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors
8 months, 3 weeks ago

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors

New Indian Express  

Two weeks ago, Bankman-Fried attorney Marc Mukasey attacked a probation office recommendation of 100 years in prison, saying a sentence of that length would be “grotesque” and “barbaric.” He urged the judge to sentence Bankman-Fried to a term of five to 6 1/2 years in prison. "Sam is not the ‘evil genius’ depicted in the media or the greedy villain …

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors
8 months, 3 weeks ago

Dethroned crypto king Sam Bankman-Fried to be sentenced for defrauding FTX investors

New Indian Express  

NEW YORK: Former crypto mogul Sam Bankman-Fried faces the potential of decades in prison when he is sentenced Thursday for his role in the 2022 collapse of FTX, once one of the world's most popular platforms for trading digital currency. Bankman-Fried, 32, was convicted in November of fraud and conspiracy — a dramatic fall from a year earlier when he …

“Lack of any remorse”: Judge tears into Sam Bankman-Fried as he sentences him to 25 years
8 months, 3 weeks ago

“Lack of any remorse”: Judge tears into Sam Bankman-Fried as he sentences him to 25 years

Salon  

FTX founder Sam Bankman-Fried was sentenced to 25 years on Thursday after he was convicted of defrauding the company’s customers. U.S. District Judge Lewis Kaplan ordered the crypto billionaire to more than two decades in prison after Bankman-Fried’s lawyers recommended a sentence of five to seven years, according to Axios. "He knew it was wrong," Kaplan said, rejecting SBF’s claims …

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer
9 months ago

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer

Associated Press  

NEW YORK — The chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player on Wednesday in a letter to a federal judge scheduled to sentence him next week, saying his claim that customers, lenders and investors were not harmed was callously false and he was living a “life of delusion.” FTX Trading Limited CEO …

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer
9 months ago

FTX chief executive blasts Sam Bankman-Fried for claiming fraud victims will not suffer

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The chief executive of the …

Prosecutors seek from 40 to 50 years in prison for Sam Bankman-Fried for cryptocurrency fraud
9 months, 1 week ago

Prosecutors seek from 40 to 50 years in prison for Sam Bankman-Fried for cryptocurrency fraud

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried’s orchestration of one of history’s largest financial frauds in his quest to dominate the cryptocurrency world deserves a prison sentence of 40 to 50 years, federal prosecutors on Friday told a federal judge. They said crimes reflecting a “brazen disrespect for the rule of law” had depleted the retirement funds and nest eggs …

Failed crypto exchange FTX’s debtors and liquidators reach a global settlement
1 year ago

Failed crypto exchange FTX’s debtors and liquidators reach a global settlement

The Hindu  

The debtors and liquidators of the failed crypto exchange FTX have reached a global settlement, that is due to be approved by a U.S. bankruptcy court and the Supreme Court of the Bahamas Court. According to the agreement, the FTX debtors and FTX Digital Markets are to “pool assets and coordinate the establishment of reserves and the timing and amount …

Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering
1 year, 1 month ago

Largest crypto exchange Binance fined $4 billion, CEO pleads guilty to not stopping money laundering

Associated Press  

WASHINGTON — The U.S. government dealt a massive blow to Binance, the world’s largest cryptocurrency exchange, which agreed to pay a roughly $4 billion settlement Tuesday as its founder and CEO Changpeng Zhao pleaded guilty to a felony related to his failure to prevent money laundering on the platform. As part of the settlement agreement, the U.S. Treasury said Binance …

PROFILE | Sam Bankman-Fried: Fraud conviction in FTX crash caps stunning fall for ‘Crypto King’
1 year, 1 month ago

PROFILE | Sam Bankman-Fried: Fraud conviction in FTX crash caps stunning fall for ‘Crypto King’

The Hindu  

Prosecutors accused the founder of the Bahamas-based FTX crypto exchange of creating a “pyramid of deceit” built on lies and false promises. ‘Pyramid of deceit’ Prosecutors said Bankman-Fried directed the transfer of FTX customer money into Alameda Research, an affiliated hedge fund, for risky investments, political donations, and expensive real estate before both companies collapsed into bankruptcy in 2022. Ari …

FTX fraudster Sam Bankman-Fried convicted of all charges in $8bn case
1 year, 1 month ago

FTX fraudster Sam Bankman-Fried convicted of all charges in $8bn case

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy FTX founder Sam Bankman-Fried …

FTX’s Sam Bankman-Fried found guilty. A timeline of the events
1 year, 1 month ago

FTX’s Sam Bankman-Fried found guilty. A timeline of the events

Live Mint  

Sam Bankman-Fried, co-founder and former CEO of cryptocurrency exchange FTX, is convicted on seven charges of fraud and money laundering by a New York jury, as per an AP report. Speaking to reporters after the hearing, US Attorney Damian Williams said the FTX fraud perpetrated by Bankman-Fried is "one of the biggest financial frauds in American history". " A timeline …

Sam Bankman-Fried: All you need to know about FTX founder
1 year, 1 month ago

Sam Bankman-Fried: All you need to know about FTX founder

Live Mint  

Sam Bankman-Fried has been found guilty on all seven counts related to fraud and money laundering. Hence, the son of two Stanford Law School professors resigned from his Wall Street position and launched a cryptocurrency hedge fund in 2017, which sparked a series of events that led to his criminal conviction on Thursday for participating in what federal prosecutors have …

Ex-crypto mogul Sam Bankman-Fried convicted for FTX collapse, faces 110 years in prison
1 year, 1 month ago

Ex-crypto mogul Sam Bankman-Fried convicted for FTX collapse, faces 110 years in prison

Hindustan Times  

FTX founder Sam Bankman-Fried was found guilty on Thursday of defrauding customers of his now-bankrupt cryptocurrency exchange in one of the biggest financial frauds on record, a verdict that cemented the 31-year-old former billionaire's fall from grace. Once the darling of the crypto world, Bankman-Fried - who was known for his mop of unkempt curly hair and for wearing shorts …

What to know about the Sam Bankman-Fried trial verdict
1 year, 1 month ago

What to know about the Sam Bankman-Fried trial verdict

Al Jazeera  

The FTX founder has been found guilty on seven charges, and he may face decades in prison. Sam Bankman-Fried’s fraud trial has ended with a guilty verdict for the crypto tycoon and the possibility that he spends decades behind bars. On Thursday, a New York federal court jury found Bankman-Fried guilty on all seven charges for fraud and conspiracy that …

Crypto tycoon Sam Bankman-Fried found guilty on all charges in fraud trial
1 year, 1 month ago

Crypto tycoon Sam Bankman-Fried found guilty on all charges in fraud trial

Al Jazeera  

Bankman-Fried faces up to 110 years behind bars following guilty verdict. Former crypto tycoon Sam Bankman-Fried has been found guilty on all charges after orchestrating what authorities have described as one of the biggest financial frauds in US history. Prosecutors accused Bankman-Fried, once the poster boy for virtual currencies, of stealing about $10bn, using customers’ funds to make risky investments, …

FTX founder Sam Bankman-Fried is found guilty of all charges including fraud
1 year, 1 month ago

FTX founder Sam Bankman-Fried is found guilty of all charges including fraud

NPR  

FTX founder Sam Bankman-Fried is found guilty of all charges including fraud A jury in New York found the so-called crypt king guilty of securities fraud and six other criminal counts. A jury in New York found Sam Bankman-Fried guilty of seven criminal counts, including securities fraud and money laundering. Prosecutors said a fraudster is a fraudster, and they pushed …

FTX founder Sam Bankman-Fried convicted of defrauding cryptocurrency customers
1 year, 1 month ago

FTX founder Sam Bankman-Fried convicted of defrauding cryptocurrency customers

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried’s spectacular rise and fall in the cryptocurrency industry — a journey that included his testimony before Congress, a Super Bowl After the monthlong trial, jurors rejected Bankman-Fried’s claim during testimony in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world’s second-largest crypto exchange, collapsed …

Sam Bankman-Fried created a 'pyramid of deceit' because he 'thought he was smarter and better', prosecutor tells jury in closing statements of his $8 BILLION fraud trial
1 year, 1 month ago

Sam Bankman-Fried created a 'pyramid of deceit' because he 'thought he was smarter and better', prosecutor tells jury in closing statements of his $8 BILLION fraud trial

Daily Mail  

Sam Bankman-Fried created a 'pyramid of deceit' with his crypto empire before its spectacular collapse in November last year, prosecutors claimed at the finale of his $8 billion fraud trial. Sam Bankman-Fried created a 'pyramid of deceit' with his crypto empire which collapsed, prosecutors claimed in the closing statements of his $8billon fraud trial Prosecutor Nicolas Roos used his closing …

Closing arguments next in FTX founder Sam Bankman’s fraud trial after his testimony ends
1 year, 1 month ago

Closing arguments next in FTX founder Sam Bankman’s fraud trial after his testimony ends

Associated Press  

NEW YORK — FTX founder Sam Bankman-Fried underwent a final barrage of questions on Tuesday from a prosecutor aimed at showing that he’s not being honest about how much he knew about the disappearance of $8 billion from his customers’ accounts, setting the stage for final arguments in his fraud trial on Wednesday. Repeatedly, she asked him why he didn’t …

Prosecutor takes aim at Sam Bankman-Fried's credibility at trial of FTX founder
1 year, 1 month ago

Prosecutor takes aim at Sam Bankman-Fried's credibility at trial of FTX founder

The Hindu  

A prosecutor began cross-examining Sam Bankman-Fried at a New York City trial on Monday, attacking his credibility by highlighting public statements he made before and after the FTX cryptocurrency exchange he founded filed for bankruptcy late last year when it could no longer process billions of dollars in withdrawals. Assistant U.S. Attorney Danielle Sassoon confronted Bankman-Fried with instances in which …

Disgraced FTX founder Sam Bankman-Fried testifies during his trial over crypto collapse that he thought company was 'okay'
1 year, 1 month ago

Disgraced FTX founder Sam Bankman-Fried testifies during his trial over crypto collapse that he thought company was 'okay'

Daily Mail  

Disgraced FTX founder and billionaire Sam Bankman-Fried has testified he thought his company was 'OK' before its stunning collapse and bankruptcy. FTX founder Sam Bankman-Fried was questioned by defense lawyer Mark Cohen as he testifies in his fraud trial Bankman-Fried appeared in court charged with two counts of fraud and five counts of conspiracy. Bankman-Fried admitted to making some 'large …

Prosecutor takes aim at Sam Bankman-Fried’s credibility at trial of FTX founder
1 year, 1 month ago

Prosecutor takes aim at Sam Bankman-Fried’s credibility at trial of FTX founder

Associated Press  

NEW YORK — A prosecutor began cross-examining Sam Bankman-Fried at a New York City trial on Monday, attacking his credibility by highlighting public statements he made before and after the FTX cryptocurrency exchange he founded filed for bankruptcy late last year when it could no longer process billions of dollars in withdrawals. Assistant U.S. Attorney Danielle Sassoon confronted Bankman-Fried with …

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud
1 year, 1 month ago

FTX founder Sam Bankman-Fried acknowledges in court that customers were hurt but denies fraud

The Hindu  

October 28, 2023 09:55 am | Updated 09:55 am IST Sam Bankman-Fried, testifying at his fraud trial Friday, cast himself as a bumbling cryptocurrency visionary who knew nothing about the industry when he started FTX or about marketing when he became the face of his company and not enough about his businesses to see they were $10 billion in the …

FTX’s Bankman-Fried admits ‘mistakes’, denies fraud at trial
1 year, 1 month ago

FTX’s Bankman-Fried admits ‘mistakes’, denies fraud at trial

Al Jazeera  

Sam Bankman-Fried says he never set out to steal from people while testifying in his own defence in Manhattan court. FTX founder Sam Bankman-Fried has admitted to making mistakes but denied defrauding customers while testifying in his own defence at his high-profile fraud trial in New York. Bankman-Fried said on Friday that a “lot of people got hurt” when FTX …

Sam Bankman-Fried DENIES stealing $10billion from FTX customers but admits he made 'large mistakes' in managing risks as he testifies in his own defense in fraud trial
1 year, 1 month ago

Sam Bankman-Fried DENIES stealing $10billion from FTX customers but admits he made 'large mistakes' in managing risks as he testifies in his own defense in fraud trial

Daily Mail  

Bankman-Fried faces 115 years behind bars if he's found guilty of fraud and conspiracy The founder of FTX denied stealing $10billion from customers as he took the risky decision to testify in his fraud trial today. Sam Bankman-Fried admitted that he made some 'large mistakes' and said 'a lot of people got hurt' when the crypto exchange collapsed last November. …

FTX founder Sam Bankman-Fried denies that he defrauded anyone
1 year, 1 month ago

FTX founder Sam Bankman-Fried denies that he defrauded anyone

Associated Press  

NEW YORK — Sam Bankman-Fried, testifying at his fraud trial Friday, cast himself as a bumbling cryptocurrency visionary who knew nothing about the industry when he started FTX or about marketing when he became the face of his company and not enough about his businesses to see they were $10 billion in the hole until shortly before they collapsed. Asked …

FTX founder Sam Bankman-Fried testifies outside jury's presence as judge decides what he can say
1 year, 1 month ago

FTX founder Sam Bankman-Fried testifies outside jury's presence as judge decides what he can say

The Hindu  

Sam Bankman-Fried got a test run taking the stand at his New York criminal trial Thursday after a judge sent jurors home but let him demonstrate portions of his testimony before deciding which parts of it he'll allow. During nearly three hours of testimony Thursday after jurors were sent home, Bankman-Fried tried to show that the presence of lawyers when …

FTX case: Sam Bankman-Fried to testify in fraud trial after onslaught from inner circle
1 year, 1 month ago

FTX case: Sam Bankman-Fried to testify in fraud trial after onslaught from inner circle

Live Mint  

Sam Bankman-Fried will take the stand to defend his actions in the lead-up to the collapse of his digital-asset empire, after taking a beating from former colleagues who described him as the mastermind of a years-long scheme to defraud FTX customers and investors. Bankman-Fried’s lawyers said on a conference call with the judge Wednesday that their client will testify at …

Sam Bankman-Fried gave fortunes to celebrities and politicians. Nishad Singh saw it up close.
1 year, 2 months ago

Sam Bankman-Fried gave fortunes to celebrities and politicians. Nishad Singh saw it up close.

Slate  

This is part of Slate’s daily coverage of the intricacies and intrigues of the Sam Bankman-Fried trial, from the consequential to the absurd. So yeah, Kives was quite connected, and Bankman-Fried noted that “he’s been very friendly to us, and already started to create valuable relationships,” linking to an Instagram post from Katy Perry captioned, “im quitting music and becoming …

Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'
1 year, 2 months ago

Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'

The Hindu  

FTX founder Sam Bankman-Fried's lawyer on Tuesday said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous," pushing back against testimony by former executive Nishad Singh portraying its spending on marketing and celebrity endorsements as excessive. Defence lawyer Mark Cohen on Tuesday asked Singh, one of three former members of Bankman-Fried's inner circle who have pleaded guilty to fraud …

Sam Bankman-Fried gave multi-million-dollar loan to top engineer Nishad Singh to splurge on 'egregious, unnecessary and selfish' $3.7M vacation home - despite fearing for FTX's finances just a MONTH b
1 year, 2 months ago

Sam Bankman-Fried gave multi-million-dollar loan to top engineer Nishad Singh to splurge on 'egregious, unnecessary and selfish' $3.7M vacation home - despite fearing for FTX's finances just a MONTH b

Daily Mail  

Former top engineer was handed millions just a month before FTX collapsed A former FTX executive and member of Sam Bankman-Fried's inner circle faced cross-examination the day after he claimed to have been 'intimidated' by the former cryptocurrency tycoon. Nishad Singh testified that the company spent millions on celebrity partnerships in early 2022 - as prosecutors attempted to show how …

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