Sam Bankman-Fried heads to court for a wildly complex cryptocurrency case
1 year, 3 months ago

Sam Bankman-Fried heads to court for a wildly complex cryptocurrency case

The Economist  

T he founder of FTX, a spectacularly failed cryptocurrency exchange, is a curious character. He denies the stack of charges he faces in a New York court, but unpicking the cryptographic paper trail will be tricky. Listen on: Apple Podcasts | Spotify Sign up for Economist Podcasts+ now and get 50% off your subscription with our limited time offer. For more information about Economist Podcasts+, including how to get access, please visit our FAQs page.

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History of this topic

Column: The legal system is closing in on crypto, and things may only get worse
9 months ago

Column: The legal system is closing in on crypto, and things may only get worse

LA Times  

Crypto fraudster Sam Bankman-Fried is screened in a New York courtroom as he prepared to face charges related to the collapse of his FTX crypto exchange. What’s important about Failla’s ruling is that she dismissed out of hand Coinbase’s argument, which is that cryptocurrencies are novel assets that don’t fall within the SEC’s jurisdiction — in short, they’re not “securities.” …

Column: Sam Bankman-Fried will be sentenced Thursday for his crypto fraud. Throw the book at him
9 months, 2 weeks ago

Column: Sam Bankman-Fried will be sentenced Thursday for his crypto fraud. Throw the book at him

LA Times  

Sam Bankman-Fried after a court appearance in his federal fraud case last year. are expected to get back all of their money.” FTX, according to Bankman-Fried’s attorneys, “was solvent at the time of the bankruptcy petition. The harm to customers, lenders, and investors is zero.” The government and Ray, the experienced corporate rescuer who became the chief executive of FTX …

Sam Bankman-Fried Won’t Face a Second Criminal Trial
1 year ago

Sam Bankman-Fried Won’t Face a Second Criminal Trial

Live Mint  

Federal prosecutors said Friday that they wouldn’t try Sam Bankman-Fried on additional criminal charges that weren’t part of the fall trial that resulted in the FTX founder’s conviction for fraud related to the collapse of his crypto exchange. Prosecutors said Bankman-Fried’s sentence would likely include restitution for the victims of his crimes. Because the evidence that would have been presented …

When will Sam Bankman-Fried be sentenced?
1 year, 2 months ago

When will Sam Bankman-Fried be sentenced?

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. Ms Ellison told the court that “Alameda took …

FTX fraudster Sam Bankman-Fried convicted of all charges in $8bn case
1 year, 2 months 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 …

Ex-crypto mogul Sam Bankman-Fried convicted for FTX collapse, faces 110 years in prison
1 year, 2 months 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 …

Column: Sam Bankman-Fried’s seven guilty verdicts expose crypto as a swindle through and through
1 year, 2 months ago

Column: Sam Bankman-Fried’s seven guilty verdicts expose crypto as a swindle through and through

LA Times  

Crypto scamster Sam Bankman-Fried at the Manhattan courthouse where he was convicted Thursday on seven criminal counts. “The cryptocurrency industry might be new; the players like Sam Bankman-Fried might be new, but this kind of fraud, this kind of corruption, is as old as time,” he said. In an interview broadcast on “60 Minutes” on Oct. 1, just before Bankman-Fried’s …

What to know about the Sam Bankman-Fried trial verdict
1 year, 2 months 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, 2 months 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, …

Prosecutor takes aim at Sam Bankman-Fried's credibility at trial of FTX founder
1 year, 2 months ago

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

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 A prosecutor began cross-examining Sam …

Prosecutor takes aim at Sam Bankman-Fried’s credibility at trial of FTX founder
1 year, 2 months 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 …

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, 2 months 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. …

Sam Bankman-Fried plans to testify at his New York fraud trial, his lawyer says
1 year, 2 months ago

Sam Bankman-Fried plans to testify at his New York fraud trial, his lawyer says

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 FTX founder Sam Bankman-Fried plans …

Michael Lewis' Going Infinite: Ben McKenzie reviews the new book about Sam Bankman-Fried.
1 year, 3 months ago

Michael Lewis' Going Infinite: Ben McKenzie reviews the new book about Sam Bankman-Fried.

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. As with everything else, Bankman-Fried soon gets bored of Jane Street and leaves—but not before making “the single worst trade in Jane Street history” on a bet that U.S. markets would turn south with Donald Trump’s victory …

Sam Bankman-Fried heads to trial on charges of stealing billions from FTX users
1 year, 3 months ago

Sam Bankman-Fried heads to trial on charges of stealing billions from FTX users

The Hindu  

Sam Bankman-Fried is set to go on trial on charges of stealing billions of dollars from customers of his FTX cryptocurrency exchange starting on Tuesday, nearly a year after the company's collapse shocked markets and tattered his reputation. Before prospective jurors entered, U.S. District Judge Lewis Kaplan told prosecutors and defence lawyers that he would begin jury selection by asking …

Sam Bankman-Fried: Key moments leading up to FTX founder’s trial
1 year, 3 months ago

Sam Bankman-Fried: Key moments leading up to FTX founder’s trial

Al Jazeera  

The former billionaire’s fraud trial stems from the dramatic collapse of the FTX cryptocurrency exchange he founded. Sam Bankman-Fried’s fraud trial, which kicked off on Tuesday in the United States, marks the culmination of a yearlong legal saga stemming from the dramatic collapse of the FTX cryptocurrency exchange he founded. The trial, expected to last about six weeks, comes nearly …

Sam Bankman-Fried ‘lied to the world’ as he built crypto empire, prosecutors say
1 year, 3 months ago

Sam Bankman-Fried ‘lied to the world’ as he built crypto empire, prosecutors say

LA Times  

In this courtroom sketch, FTX founder Sam Bankman-Fried, right, sits at the defense table next to his attorney Christian Everdell as jury selection began in his fraud trial Tuesday. There was no theft.” Cohen said that the “rise and fall” of FTX, and Alameda Research, an affiliated hedge fund, mirrored the wider crypto industry, which was battered by fast-changing market …

Sam Bankman-Fried Is a Terrible Client
55 years ago

Sam Bankman-Fried Is a Terrible Client

Wired  

In the weeks after Sam Bankman-Fried’s FTX crypto exchange began to crumble last November, he chose to ignore the most basic piece of legal advice: Say nothing, or risk incriminating yourself. As the defense, the objective is to “create an immaculate narrative,” says Jason Allegrante, chief legal officer at crypto custody firm Fireblocks, to “present the best narrative the facts …

Jury selection begins in trial of fallen cryptocurrency mogul Sam Bankman-Fried
1 year, 3 months ago

Jury selection begins in trial of fallen cryptocurrency mogul Sam Bankman-Fried

Associated Press  

NEW YORK — Jury selection began Tuesday in the fraud trial of FTX founder Sam Bankman-Fried after a prosecutor revealed that no discussions about a potential plea agreement took place in the nearly 10 months since the cryptocurrency executive was arrested and brought to the United States. Prosecutors say Bankman-Fried defrauded people and financial institutions who had accounts worth billions …

Jury selection to begin in trial of fallen cryptocurrency mogul Sam Bankman-Fried
1 year, 3 months ago

Jury selection to begin in trial of fallen cryptocurrency mogul Sam Bankman-Fried

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 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. Please try again later {{ …

Business Highlights: Sam Bankman-Fried’s trial set to begin, Fed chief hears about inflation woes
1 year, 3 months ago

Business Highlights: Sam Bankman-Fried’s trial set to begin, Fed chief hears about inflation woes

Associated Press  

___ Sam Bankman-Fried must now convince a jury that the former crypto king was not a crook NEW YORK — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. ___ Fed’s Powell gets an earful about inflation and interest rates from small businesses YORK, Pa. — Federal Reserve officials typically …

Sam Bankman-Fried must now convince a jury that the former crypto king was not a crook
1 year, 3 months ago

Sam Bankman-Fried must now convince a jury that the former crypto king was not a crook

Associated Press  

NEW YORK — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Prosecutors from the Southern District of New York are expected to lay out a case against Bankman-Fried that shows he stole billions of dollars in FTX customer deposits and used the money to fund his hedge fund, buy …

Former crypto king Sam Bankman-Fried must now convince a jury he was not a crook
1 year, 3 months ago

Former crypto king Sam Bankman-Fried must now convince a jury he was not a crook

LA Times  

For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Prosecutors from the Southern District of New York are expected to lay out a case against Bankman-Fried that shows he stole billions of dollars in FTX customer deposits and used the money to fund his hedge fund, buy real estate and …

Prosecutors say Sam Bankman-Fried’s arguments to dismiss cryptocurrency charges are meritless
1 year, 7 months ago

Prosecutors say Sam Bankman-Fried’s arguments to dismiss cryptocurrency charges are meritless

Associated Press  

NEW YORK — Sam Bankman-Fried’s lawyers made meritless arguments in a bid to convince a judge to toss out criminal charges alleging that the FTX founder stole from investors in his multibillion dollar cryptocurrency fund, federal prosecutors said Monday. In papers filed in Manhattan federal court, prosecutors responded to early May filings in which Bankman-Fried’s lawyers insisted that the United …

Sam Bankman-Fried prosecutors allege plot to shape crypto policy
1 year, 10 months ago

Sam Bankman-Fried prosecutors allege plot to shape crypto policy

LA Times  

FTX co-founder Sam Bankman-Fried arrives at court in New York on Jan. 3. In addition to Bankman-Fried himself, Ryan Salame, former co-chief executive of FTX Digital Markets, and Nishad Singh, FTX’s former director of engineering, were among the largest political donors in the FTX universe. Beginning around March 2022, Bankman-Fried and others began coordinating political contributions made using FTX and …

Sam Bankman-Fried to be released on $250 million bail into parents' custody
2 years ago

Sam Bankman-Fried to be released on $250 million bail into parents' custody

NPR  

Sam Bankman-Fried to be released on $250 million bail into parents' custody Enlarge this image toggle caption Rebecca Blackwell/AP Rebecca Blackwell/AP Sam Bankman-Fried, perhaps the most infamous person in the world of cryptocurrencies, will be released on $250 million bail as he prepares to face criminal charges that he lied to investors and took billions of dollars of his customers' …

Essential Politics: Sam Bankman-Fried and the downfall of a crypto king
2 years ago

Essential Politics: Sam Bankman-Fried and the downfall of a crypto king

LA Times  

Early on Monday, Sam Bankman-Fried, the disgraced former chief executive of cryptocurrency exchange FTX, made a bold prediction. The Justice Department is seeking to extradite him to the United States to face eight separate charges, including wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities and securities fraud, conspiracy to commit money laundering and, finally, conspiracy “ to …

Hailed as 'next Warren Buffet', Sam Bankman, whose crypto empire crashed, held
2 years ago

Hailed as 'next Warren Buffet', Sam Bankman, whose crypto empire crashed, held

Hindustan Times  

Embattled cryptocurrency mogul and former FTX CEO Sam Bankman-Fried was arrested in the Bahamas after being criminally charged by US prosecutors. All you need to know about the FTX-Sam Bankman-Fried saga Once among the world's largest cryptocurrency exchanges, FTX filed for bankruptcy protection on November 11 in one of the highest-profile crypto blowups. The liquidity crunch came after Bankman-Fried secretly …

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