Disgraced former FTX CEO Sam Bankman-Fried sentenced to 25 years for financial fraud, must forfeit $11 billion for victims
abcnews.go.com/US/sam-bankman-fried-sentenced-thursday-financial-fraud/story
Quick Glance: Sam Bankman-Fried's Verdict: 25-Year Prison Term - BBC News
- Sam Bankman-Fried received a 25-year prison sentence. Key details from the court hearing in New York were summarized, focusing on his defense lawyer's arguments and the judge's ruling.
- The judge criticized SBF's lack of remorse, noting that he had never expressed a word of regret for committing terrible crimes. Customers who lost money in the collapse reported experiencing nightmares.
- SBF admitted to making a series of poor decisions but claimed that customers could be reimbursed. The judge pointed out that the assertion that customers would be fully repaid through the bankruptcy process was misleading.
- The court hearing also included testimonies from customers who lost significant amounts of money, insights into SBF's background, and the reasons behind the collapse of his company FTX.
Texas Attorney General Ken Paxton reaches deal to avoid securities fraud trial : Texas Attorney General Ken Paxton reached a deal to avoid a trial in his ...
nbcnews.com/politics/politics-news/texas-attorney-general-ken-paxton-deal-avoid-trial-rcna145161
Quick Glance: Texas AG Paxton to Pay Nearly $300K in Fraud Case
- Texas Attorney General Ken Paxton has agreed to pay nearly $300,000 in restitution to end the fraud charges that have been looming over him for almost a decade.
- In a deal with special prosecutors, Paxton will have three felony charges dropped and will be required to provide full restitution to victims, complete community service, and undergo legal ethics education.
- The resolution of the case marks a significant legal and political victory for Paxton, allowing him to retain his elected position and legal license despite ongoing legal challenges.
- Despite facing a federal investigation and other legal battles, Paxton has maintained strong political support within the GOP, including from former President Donald Trump, showcasing his resilience amidst adversity.
Report: Paxton felony charges could be dismissed in plea deal: Paxton has been fighting securities fraud felony charges for nearly nine years.
texastribune.org/2024/03/22/ken-paxton-texas-securities-fraud-felony-plea-deal/
Texas AG Ken Paxton reaches deal to resolve securities fraud charges before April trial
usatoday.com/story/news/nation/2024/03/26/ken-paxton-securities-fraud-texas-attorney-general-deal/73113982007/
Trump New York fraud bond cut to $175 million in appeal from $454 million: Former President Donald Trump earlier had complained he could not obtain a $454 ...
cnbc.com/2024/03/25/trump-new-york-fraud-bond-cut-to-175-million-in-appeal-from-454-million.html
Quick Glance: Trump Secures Pause on $454 Million Civil Fraud Judgment
- Donald Trump wins the ability to pause his $454 million civil fraud judgment by posting a $175 million bond within 10 days.
- A mid-level state appellate court grants Trump's request to delay enforcement of a February 16 judgment while considering his appeal.
- Presidential candidate Trump continues to raise funds for his campaign and legal costs as he faces four upcoming criminal trials.
- Trump's legal team seeks a delay in a New York state criminal trial over hush money paid to porn star Stormy Daniels, revealing new federal documents.
Evergrande: China property giant and its founder accused of $78bn fraud: Former billionaire Hui Ka Yan has been fined and faces being banned from the financial ...
bbc.com/news/business-68603195
Sam Bankman-Fried to be sentenced for multibillion-dollar fraud this week: Former FTX CEO faces up to 100 years in prison should the judge hand out the harshest ...
theguardian.com/business/2024/mar/25/sam-bankman-fried-sentenced-multi-billion-dollar-fraud
Quick Glance: The Rise and Fall of Sam Bankman-Fried: Unrepentant Ex-Mogul Faces Lengthy Prison Term
- Sam Bankman-Fried, founder of FTX cryptocurrency exchange, was found guilty of wire fraud and money laundering conspiracy.
- Prosecutors urged a 40 to 50-year sentence to emphasize the severity of harm to victims and deter financial misconduct.
- Victims shared impact statements detailing loss of savings and financial distress caused by Bankman-Fried's actions.
- Once a prominent figure in the crypto world, Bankman-Fried faced accusations of embezzling funds and engaging in fraudulent activities.
How Sam Bankman-Fried’s 25-year prison sentence compares to Madoff and Holmes: As much as $10 billion in customer deposits went missing from FTX ...
marketwatch.com/story/sam-bankman-fried-gets-25-years-one-of-the-longest-ever-sentences-for-financial-fraud-7c0d63a5
Basel head of the Hell Angels got sex to order in prison: In mid-May, the Basel criminal judges will have to judge a major case of investment fraud along with ...
solothurnerzeitung.ch/basel/basel-stadt/strafgericht-basel-stadt-basler-chef-der-hells-angels-bekam-im-gefaengnis-waaghof-sex-auf-bestellung-ld.2599438
Basel head of the Hell Angels got sex to order in prison: In mid-May, the Basel criminal judges will have to judge a major case of investment fraud along with ...
bzbasel.ch/basel/basel-stadt/strafgericht-basel-stadt-basler-chef-der-hells-angels-bekam-im-gefaengnis-waaghof-sex-auf-bestellung-ld.2599438
UK entrepreneur Mike Lynch on trial for what prosecutors say is ‘largest fraud in history’ of Silicon Valley
irishtimes.com/technology/2024/03/28/silicon-valley-has-not-changed-that-much-since-mike-lynch-was-in-his-pomp/
Major City of London police fraud crackdown sees 438 arrests and £19 million seized
standard.co.uk/news/crime/operation-henhouse-fraud-police-city-crackdown-arrests-b1147815.html
Arista Founder to Pay Nearly $1 Million to Settle Insider Trading Charges: Arista Networks founder Andreas “Andy” Bechtolsheim has agreed to pay nearly $1 ...
barrons.com/articles/arista-founder-andy-bechtolsheim-insider-trading-charges-474fd4a1
Paid articlePaid
Huge investment fraud: Wachau man "relieved" of 80,000 euros: 83,000 euros! The sum that a Wachau resident was defrauded of by fraudsters on the Internet is ...
noen.at/krems/kryptowaehrung-als-falle-riesiger-anlagebetrug-wachauer-um-80-000-euro-erleichtert-415127072
Investment fraud: The king of swindlers: Jürgen Harksen promised his customers more than 1000 percent returns, but in the end they got nothing ...
faz.net/aktuell/finanzen/juergen-harksen-war-der-koenig-der-schwindler-19605695.html
Paid articlePaid
Prosecutors say Mike Lynch firm ‘paid customers to buy software’ as part of revenue fraud
theguardian.com/business/2024/mar/21/mike-lynch-trial-autonomy-paid-firm-to-buy-software
How Chinese takeaway worker led police to Bitcoin worth £3bn in Britain's biggest ever cryptocurrency seizure
news.sky.com/story/how-chinese-takeaway-worker-led-police-to-bitcoin-worth-3bn-in-britains-biggest-ever-cryptocurrency-seizure-13078066
Mike Lynch fraud trial enters day two as prosecutors paint UK tech tycoon as ‘controlling’
theguardian.com/business/2024/mar/19/mike-lynch-fraud-trial-autonomy-hewlett-packard
UK Woman Found Guilty of Laundering Bitcoin Linked to $6 Billion Fraud in China: A woman was found guilty by a London jury of laundering massive amounts of ...
bloomberg.com/news/articles/2024-03-20/uk-woman-found-guilty-of-laundering-bitcoin-linked-to-6-billion-fraud-in-china
Paid articlePaid
Who is Amber Dalal, accused of duping over 200 investors of more than Rs 100 crore ?
indianexpress.com/article/cities/mumbai/who-is-amber-dalal-accused-of-duping-over-200-investors-of-more-than-rs-100-crore-9226391/
UPPER AUSTRIA. Fake advertising featuring celebrities is currently luring some Upper Austrians into the arms of investment fraudsters.
tips.at/nachrichten/ooe/blaulicht/639768-promi-betrug-zwei-oberoesterreicherinnen-verloren-400-000-euro
Mike Lynch trial: defense points to difference in accounting standards: Lawyers for UK tech tycoon facing 25 years in jail suggest US workers did not understand ...
theguardian.com/business/2024/mar/19/mike-lynch-trial-autonomy-hewlett-packard
How pig butchering scam is taking a toll on investors | Mint: Too many fake apps and websites are luring investors with promises of huge returns.
livemint.com/money/personal-finance/how-pig-butchering-scam-is-taking-a-toll-on-investors-11710834486149.html
Paid articlePaid
SEC charges advisors over misleading AI claims: The Securities and Exchange Commission has charged two separate investment advisors for severely overstating ...
accountingtoday.com/news/sec-charges-two-different-advisors-over-misleading-artificial-intelligence-claims-to-investors
Paid articlePaid
Apple reaches $490mn settlement over Tim Cook’s China demand comments: Investors claimed chief executive misled them during an earnings call in 2018
ft.com/content/e41ce6f5-84d1-48b6-a81f-53cb7cdbb6a3
Paid articlePaid
Quick Glance: USS Idaho to Undergo Christening Ceremony in Groton
- The upcoming Saturday, the U.S. Navy will christen the fast-attack submarine USS Idaho in Groton, Connecticut.
- The Supreme Court rejected the request of an LGBTQ student group to hold a drag show on the campus of West Texas A&M University.
- A woman from Virginia discovered a forgotten Mega Millions ticket in her nightstand and realized the weeks-old ticket was worth $3 million.
- A New Mexico trooper was shot near Tucumcari on Interstate 40, and the suspect was still at large.
China Evergrande's flagship unit, founder punished for securities fraud: China Evergrande Group founder Hui Ka Yan will be barred from the securities market for ...
reuters.com/business/chinas-regulator-ban-evergrande-chairman-entering-securities-market-life-2024-03-18/
Kaarst: Defendant testifies in fraud trial: A company that allegedly specializes in the nuclear phase-out is collecting almost three million euros from investors ...
rp-online.de/nrw/staedte/kaarst/kaarst-angeklagter-sagt-im-betrugsprozess-aus_aid-109099951
Indonesia to deport Japanese man accused of role in $90 million investment fraud | The Asahi Shimbun: Breaking News, Japan News and Analysis
asahi.com/ajw/articles/15196105
Japanese suspect in investment fraud to be deported from Indonesia - The Mainichi
mainichi.jp/english/articles/20240312/p2g/00m/0na/042000c
Japanese man arrested over investment fraud after 4 years abroad - The Mainichi: NAGOYA (Kyodo) -- A Japanese man who had been on an international wanted list ...
mainichi.jp/english/articles/20240313/p2g/00m/0na/014000c
Hong Kong police log 15 per cent surge in scams in January, despite integration of anti-fraud app into major payment system
scmp.com/news/hong-kong/law-and-crime/article/3255140/hong-kong-police-log-15-cent-surge-scams-january-despite-integration-anti-fraud-app-major-payment
Paid articlePaid
Fraudsters use new trick to fulfill bank KYC to open accounts: fake company nameplates
indianexpress.com/article/cities/mumbai/fraudsters-trick-bank-kyc-accounts-fake-company-naemplates-9205279/
How clean is the dirt on Hunter Biden? A key Republican source is charged with lying to the FBI
apnews.com/article/hunter-biden-fbi-informant-smirnov-ukraine-impeachment-113c1104052dbdc9302606f6d42c9939
Judge rejects won’t toss indictments against AG Ken Paxton: Paxton’s securities fraud trial will kick off on April 15. He has been under indictment for nearly ...
texastribune.org/2024/02/16/attorney-general-ken-paxton-securities-fraud-indictment-trial/
Quick Glance: Judge Denies AG Ken Paxton's Indictment Dismissal
- Judge rejects Paxton's attempt to dismiss charges, trial proceeding this spring.
- Special prosecutor Brian Wice supports decision, blames Paxton for delays.
- Defense attorney Dan Cogdell accuses prosecutors of causing trial delays.
- Paxton faces serious securities fraud charges dating back to his first term.
Trump Media’s Impending Merger May Give Him a Financial Lifeline: The deadline for the former president to pay a $454 million civil fraud penalty coincides with ...
nytimes.com/2024/02/26/business/trump-media-digital-world-acquisition-cash.html
FBI: Cybercrime Jumped 22% in 2023, for $12.5 Billion in Losses: The most reported type of cybercrime involved investment scams, which led to $4 ...
uk.pcmag.com/security/151348/fbi-cybercrime-jumped-22-in-2023-for-125-billion-in-losses
Chester couple were conned out of more than £360,000: A man from Liverpool has pleaded guilty to defrauding a Chester couple out of more than £360,000.
chesterstandard.co.uk/news/24169793.chester-couple-conned-360-000/
Damage from investment and romance scams in Japan hits ¥45.5 billion: The figure was higher than ¥44.12 billion stolen in remittance and other special fraud ...
japantimes.co.jp/news/2024/03/07/japan/crime-legal/investment-romance-scams/
Gina Champion-Cain seeks early release from prison in Ponzi scheme case: Champion-Cain claims federal prosecutors acted in "bad faith" by failing to seek a ...
sandiegouniontribune.com/business/story/2024-03-04/gina-champion-cain-seeks-early-release-from-prison-in-ponzi-scheme-case-judge-says-no
Paid articlePaid
Former CEO and directors of company linked to S$1.5b nickel investment fraud case charged
channelnewsasia.com/singapore/billion-dollar-nickel-fraud-case-envy-global-envysion-wealth-3-charged-mas-4177566
45.5 Billion Yen Stolen in Investment, Romance Scams in Japan
japannews.yomiuri.co.jp/society/crime-courts/20240307-173103/
FBI: Critical infrastructure suffers spike in ransomware attacks: Jump in overall cybercrime reports, $60M-plus reportedly lost to extortionists alone ...
theregister.com/2024/03/06/fbi_ransomware_cybercrime_costs/
Sam Bankman-Fried’s lawyers request lighter sentence amid FTX fraud appeal: Lawyers for FTX founder Sam Bankman-Fried requested a lighter sentence for their ...
thehill.com/business/4495540-sam-bankman-frieds-lawyers-request-lighter-sentence-amid-ftx-fraud-appeal/
Quick Glance: Bankman-Fried Calls for Lenient Sentence, Cites FTX Fund Recovery
- Bankman-Fried's lawyer urged a judge on Tuesday, February 27, to impose a lenient sentence for the FTX founder's conviction for stealing $8 billion from customers of the now-bankrupt cryptocurrency exchange.
- The lawyers presented a range of 5-1/4 to 6-1/2 years as an appropriate prison term, far less than the maximum 110 years he faces after a jury found him guilty in November.
- Bankman-Fried pleaded not guilty and plans to appeal his conviction and sentence.
- The former billionaire will be sentenced on March 28, accompanied by support letters from his parents, psychiatrist, and others.
‘Super Villain’ of $6 Billion Fraud Is Key to UK Laundering Trial, Lawyer says: A woman facing a UK trial for allegedly laundering massive amounts of Bitcoin ...
bloomberg.com/news/articles/2024-03-01/-super-villain-of-6-billion-fraud-is-key-to-uk-laundering-trial-lawyer-says
Paid articlePaid
Colorado pastor accused of pocketing $1.3M in crypto scheme says 'Lord told us to'
nbcnews.com/news/us-news/colorado-pastor-accused-pocketing-13m-crypto-scheme-says-lord-told-us-rcna135143
Houston man pleads guilty in $1.7 million insider trading case: Tyler Loudon of Houston pleaded guilty to securities fraud in an insider trading case in which he ...
expressnews.com/news/article/insider-trading-guilty-plea-tyler-loudon-18687651.php
Paid articlePaid
A BP executive's husband eavesdropped and made almost $2 million on insider trading
qz.com/bp-executive-travelcenters-pillow-talk-insider-trading-1851281862
Paid articlePaid
Quick Glance: BP Employee's Husband Admits Insider Trading
- Tyler Loudon, the husband of a BP employee, has admitted to insider trading by making illegal stock purchases based on information he overheard from his wife.
- Loudon allegedly made €1.6 million by buying shares of TravelCenters of the United States before its acquisition by BP.
- He has agreed to forfeit the illegal profits and could face up to five years in prison and a fine of up to $250,000.
- The SEC accused Loudon of taking advantage of his wife's trust and confidential information to make unlawful profits.
Investment fraud worth millions: Göttingen court imposes prison sentences: They are said to have operated fraudulent internet platforms and thus deprived many ...
goettinger-tageblatt.de/lokales/goettingen-lk/goettingen/anlagebetrug-in-millionenhoehe-goettinger-gericht-verhaengt-gefaengnisstrafen-OKQUYF6BQRD4JKQUI3BNDJTS6E.html
Paid articlePaid
Former Real Estate Executive Pleads Guilty in $658 Million Ponzi Scheme
barrons.com/articles/nria-guilty-salzano-ponzi-73c2636b
Paid articlePaid
Pastor Charged With Cryptocurrency Fraud Said God Told Him to Do It: In a civil action, prosecutors in Colorado said that a Denver pastor and his wife created ...
nytimes.com/2024/01/23/us/colorado-pastor-crypto-fraud-eli-regalado.html
Fallen crypto mogul Do Kwon could face heavy sentence in US: Terraform Labs co-founder Do Kwon, who was apprehended in Montenegro over his alleged involvement in ...
koreatimes.co.kr/www/biz/2024/02/816_369320.html
Sam Bankman-Fried Replaces Lawyers Ahead of Sentencing: Bankman-Fried replaced his former lawyers, Mark Cohen and Christian Everdale, as he’s headed into ...
coindesk.com/policy/2024/02/21/sam-bankman-fried-replaces-trial-lawyers-ahead-of-sentencing/
Barclays must face US shareholder lawsuit over $17.7 bln debt sale blunder: A U.S. judge ruled on Friday that Barclays must face a proposed class action by ...
reuters.com/legal/barclays-must-face-us-shareholder-lawsuit-over-177-bln-debt-sale-blunder-2024-02-23/
Man Makes $2 Million By Listening To Wife's Work Calls At Home: Tyler Loudon, a 42-year-old resident of Houston, confessed to engaging in securities fraud ...
indiatimes.com/news/world/man-makes-2-million-by-listening-to-wifes-work-calls-at-home-628245.html
A work-from-home tip: Don't buy stocks after eavesdropping on your spouse's business calls
apnews.com/article/insider-trading-fraud-work-from-home-35e80f7a8bb299b0e35e4bceffb9709e
RM1.34bil lost in 14,000 investment fraud cases over 5 years: Commercial crime investigation department director Ramli Yoosuf says police are working with the ...
freemalaysiatoday.com/category/nation/2024/02/22/rm1-34bil-lost-in-14000-investment-fraud-cases-over-5-years/
Convicted Ponzi schemer whose sentence was commuted by Trump indicted again: Weinstein was one of 140 people who were granted clemency by Trump on Jan. 19, 2021 ...
nj.com/ocean/2024/02/convicted-ponzi-schemer-whose-sentence-was-commuted-by-trump-indicted-again.html
SC charges former remisier with securities fraud: The Securities Commission (SC) has charged former remisier Peter Chuah Hock Heng with defrauding an investor ...
thestar.com.my/business/business-news/2024/02/21/sc-charges-former-remisier-with-securities-fraud
Advance info, stock suggestions, profit: How experts on Zee Business ‘fraudulently induced viewers’
newslaundry.com/2024/02/09/advance-info-stock-suggestions-and-profit-how-experts-on-zee-business-fraudulently-induced-viewers
Defendant had ‘no idea’ bitcoin funds were proceeds of alleged £5bn fraud, UK court told
ft.com/content/16e7be6f-875c-4f2f-856f-441d155b4894
Paid articlePaid
Taiwanese men nabbed for trying to set up scam call centre: KUALA LUMPUR: Four Taiwanese men wanted in their country for organised crime and fraud were caught ...
thestar.com.my/news/nation/2024/02/17/taiwanese-men-nabbed-for-trying-to-set-up-scam-call-centre
Judge rejects AG Ken Paxton's attempt to dismiss Harris County charges: Texas Attorney General Ken Paxton’s attempt to dismiss a nearly 9-year-old securities ...
houstonchronicle.com/news/houston-texas/crime/article/ken-paxton-trial-securities-fraud-texas-18670145.php
Kolkata man loses Rs 20 Lakh to ‘online investment fraud’, police say probe on: Between January 16 and 28, Sarkar said he lost around Rs 20 lakh ...
indianexpress.com/article/cities/kolkata/kolkata-man-loses-rs-20-lakh-to-online-investment-fraud-police-say-probe-on-9168507/
Lancaster beverage company that caters to women ordered to pay $12.7 million for alleged fraud
dailynews.com/2024/02/15/lancaster-beverage-company-that-caters-to-women-ordered-to-pay-12-7-million-for-alleged-fraud/
Lyft Had a Typo: Also ESG and interest rates, hedge-fund fees, proposition bets and mob insider trading.
trib.al/xiX5tts
Cryptocurrency maker sues former Ars reporter for writing about fraud lawsuit | Ars Technica
arstechnica.com/tech-policy/2024/02/cryptocurrency-maker-sues-former-ars-reporter-for-writing-about-fraud-lawsuit/
Cops bust scam call center syndicate targeting Europeans: Bukit Aman says the 'forex investment' scam, operating out of Kuala Lumpur, targets people residing in ...
freemalaysiatoday.com/category/nation/2024/02/16/police-bust-call-centre-syndicate-in-bukit-bintang/
Bitcoin money launderer Ian Freeman ordered to pay $3.5 million to romance scam victims
cnbc.com/2024/02/13/bitcoin-money-launderer-ian-freeman-ordered-to-pay-3point5-million.html
Billionaire former Premier League club owner pleads guilty to fraud: ‘I am so embarrassed’
theathletic.com/5224509/2024/01/24/billionaire-lewis-plead-guilty-fraud/
MarketWise to cut 104 jobs as ‘misconduct’ prompts wind down of Legacy Research: ‘Reorganization’ announced after former Legacy Research employee was charged ...
marketwatch.com/story/marketwise-to-cut-104-jobs-as-misconduct-prompts-wind-down-of-legacy-research-0b7fc481
Texas AG Ken Paxton in Houston court Friday: After nearly nine years, Texas Attorney General Ken Paxton faces trial in a securities fraud case as soon as April ...
dallasnews.com/news/politics/2024/02/13/ag-ken-paxton-back-in-court-friday-in-securities-fraud-case/
Adam Neumann Wants We Back: Also the basis trade, a Yandex trade, mark-to-market Bitcoin and an education in crypto.
bloomberg.com/opinion/articles/2024-02-06/adam-neumann-wants-we-back
Nikola rejects Trevor Milton board nominees after fraud sentence: Electric truck maker says its convicted founder still owes the company $165mn plus interest
ft.com/content/de70bf18-8900-435e-bcf7-db680e1c13df
Paid articlePaid
Prosecutors call for hearing over lawyers representing Sam Bankman-Fried and Alex Mashinsky
cointelegraph.com/news/prosecutors-conflict-interest-lawyers-sam-bankman-fried-alex-mashinsky
Company director loses RM11mil to crypto-investment scam: KUALA LUMPUR: A company director lost RM11,130,123 in a cryptocurrency investment scheme called ...
thestar.com.my/news/nation/2024/02/05/company-director-loses-rm11mil-to-crypto-investment-scam
Three people indicted in $400 million FTX hack conspiracy : Three people were indicted for an identity theft conspiracy that allegedly included the $400 million ...
cnbc.com/2024/02/02/three-people-indicted-in-400-million-ftx-hack-conspiracy.html
Australian Sam Lee charged with conspiracy to commit fraud in US for role in ‘Ponzi scheme’
theguardian.com/technology/2024/jan/30/australian-sam-lee-charged-with-conspiracy-to-commit-in-us-for-role-in-ponzi-scheme
New to NewsWall?
Sign up now to get your own personalized news!
Trending topics