Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion (roughly Rs. 66,678 crore) from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind’s dramatic downfall. US District Judge Lewis Kaplan handed down the sentence…
Sam Bankman-Fried’s lawyer urged a judge on Tuesday to impose a lenient sentence for the FTX founder’s conviction for stealing $8 billion (roughly Rs. 6,63,30 crore) from customers of the now-bankrupt cryptocurrency exchange, arguing clients would get most of their funds back. In a sentencing submission, Bankman-Fried’s lawyer Marc Mukasey…
FTX founder Sam Bankman-Fried was found guilty on Thursday of stealing from 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. A 12-member jury in Manhattan federal court convicted Bankman-Fried on all seven…
Bankrupt crypto exchange FTX on Monday sued the parents of founder Sam Bankman-Fried, saying that Stanford professors Joseph Bankman and Barbara Fried used the company to enrich themselves at the expense of FTX’s customers. FTX, now being led by turnaround specialist John Ray, said that company founder Sam Bankman-Fried ran…
Sam Bankman-Fried, the indicted founder of the bankrupt FTX cryptocurrency exchange, on Tuesday, said he never sought to intimidate witnesses at his scheduled October fraud trial, and there is no reason to jail him. In a letter to US District Judge Lewis Kaplan in Manhattan, Bankman-Fried said prosecutors mischaracterised his…
US prosecutors have accused FTX founder Sam Bankman-Fried of witness tampering and asked a federal judge to issue an order that would bar the former billionaire and other parties from making public statements likely to interfere with a fair trial. The prosecutors wrote to US District Judge Lewis Kaplan on…
FTX Trading on Thursday sued founder Sam Bankman-Fried and other former executives of the cryptocurrency exchange, seeking to recoup more than $1 billion (nearly Rs. 8,200 crore) they allegedly misappropriated before FTX went bankrupt. The complaint filed in Delaware bankruptcy court also names as defendants Caroline Ellison, who led Bankman-Fried’s…
Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company. The complaint, filed on Tuesday in US Bankruptcy Court in Delaware, describes Daniel Friedberg, a former chief compliance officer at…
Sam Bankman-Fried was blocked from using virtual private networks while out on bail, as a judge expressed concern that VPNs present similar risks to the FTX co-founder’s use of encrypted messaging apps. Bankman-Fried, who was charged with fraud after the cryptocurrency exchange collapsed, says he used a VPN just to…
Sam Bankman-Fried is in talks with US prosecutors to resolve a dispute over the FTX cryptocurrency exchange founder’s bail conditions, his lawyer said on Thursday. The judge overseeing Bankman-Fried’s criminal fraud case in federal court in Manhattan on Wednesday temporarily barred the 30-year-old former billionaire from contacting employees of FTX…
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