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☆ Sam Bankman-Fried's parents are begging a judge to keep him out of prison, warning their son's social awkwardness could put him in 'extreme danger'
▼ + stars: | 2024-02-28 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Bankman-Fried's lawyers filed a sentencing submission, asking for a prison sentence of no longer than 78 months — or six-and-a-half-years. The US Probation Office, which issues sentencing reports that judges typically rely on, recommended 100 years behind bars — which Bankman-Fried's lawyers called "barbaric." Advertisement"That recommendation is grotesque," Bankman-Fried's lawyers wrote. Sam Bankman-Fried's approach to veganism illustrated both his selflessness and awkwardness, his younger brother, Gabriel Bankman-Fried, wrote in a letter to the judge. In the sentencing submission, Bankman-Fried's lawyers argue that "the most reasonable estimate" for how much his victims lost was "zero."

Persons: —, Sam Bankman, Barbara Fried, Joseph Bankman, Gabriel Bankman, neurodiversity, Sam, Bankman, Lewis Kaplan, Fried, Jane Rosenberg, FTX, Michael M Santiago, Carmine Simpson, Simpson, That's, Gabriel, Seth Wenig, Marc Mukasey, Torrey Young, weren't, Barbara Fried —, John J, Ray III, John Ray Organizations: Service, Business, US, Prosecutors, Alameda Research, Office, Stanford Law, MIT, Wall, of Prisons, San, United, AP Locations: Manhattan, FTX, Brooklyn, Bahamas

☆ Sam Bankman-Fried directed political donations despite $13 bln 'hole', ex-colleague testified
▼ + stars: | 2023-10-16 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Singh said another FTX executive had told him the deals were meant to help spur user growth. 'I WAS A STRAW DONOR'Bankman-Fried's trial, which started on Oct. 3, has so far focused largely on how prosecutors say Bankman-Fried allowed Alameda to plunder FTX customer funds. Singh gave jurors a window into Bankman-Fried's political operation. He said another FTX executive, Ryan Salame, had access to his bank account to make donations via wire transfers. "I knew that the money for those donations was coming from customer funds."

Persons: Sam Bankman, Andrew Kelly, Fried, Nishad Singh, Bankman, Singh, Tom Brady, Gisele Bundchen, Steph Curry, Larry David, Katy Perry, Orlando Bloom, Michael Kives, Hillary Clinton, FTX, Gary Wang, Caroline Ellison, Alameda's, Gabriel, Gabriel Bankman, Ryan Salame, District Judge Lewis Kaplan, Luc Cohen, Matthew Lewis, Stephen Coates Organizations: FTX, Manhattan, REUTERS, Alameda Research, U.S, Democratic, Prosecutors, Alameda, Miami Heat's, District, Monday, Thomson Locations: New York City, U.S, Alameda, Fried, . U.S, New York

[1/2] Indicted FTX founder Sam Bankman-Fried arrives at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 4 (Reuters) - The jury for Sam Bankman-Fried's trial on charges of stealing billions of dollars from customers of his now-bankrupt FTX cryptocurrency exchange was selected on Wednesday, paving the way for opening statements to start soon. Prosecutors and the defense are expected to lay out their cases shortly in opening statements. They are expected to call three former members of Bankman-Fried's inner circle - former Alameda chief executive Caroline Ellison and former FTX executives Nishad Singh and Gary Wang - to testify against him. Reporting by Luc Cohen in New York Editing by Amy Stevens, Matthew Lewis and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, Amr Alfiky, FTX, District Judge Lewis Kaplan, Joseph Bankman, Barbara Fried, Gabriel Bankman, Donald Trump, Anthony Scaramucci, Caroline Ellison, Nishad Singh, Gary Wang, Kaplan, Ellison, Luc Cohen, Amy Stevens, Matthew Lewis, Nick Zieminski Organizations: FTX, United, REUTERS, District, Wednesday, Stanford Business School, North Railroad, Prosecutors, Stanford Law, U.S, Alameda Research, Alameda, Metropolitan Detention, Thomson Locations: New York City, U.S, York, Manhattan, Brooklyn, New York

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's father and brother, as well as Donald Trump's former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder's fraud trial, according to a list read by a prosecutor in court on Tuesday. There is no guarantee that Scaramucci, Bankman-Fried's father Joseph Bankman or his brother Gabriel Bankman-Fried will testify during the trial, which is expected to last six weeks and kicked off on Tuesday with jury selection. Prosecutor Danielle Sassoon read the list of dozens of names - which included both proposed prosecution and defense witnesses - to see if any prospective jurors knew them. Scaramucci's alternative investment firm SkyBridge Capital once owned a stake in FTX, Bankman-Fried's cryptocurrency exchange which declared bankruptcy in November 2022 amid a flurry of customer withdrawals. The now-bankrupt fund is fully owned by Bankman-Fried and former FTX executive Gary Wang, court filings show.

Persons: Sam Bankman, Fried, Christian Everdell, Jane Rosenberg, Donald Trump's, Anthony Scaramucci, Joseph Bankman, Gabriel Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Bankman, Kaplan, Gary Wang, Nicolas Roos, Caroline Ellison, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: Federal Court, REUTERS, SkyBridge, Alameda Research, District, Insight Partners, Bankman, Manhattan U.S, Thomson Locations: FTX, New York City, U.S, Alameda, Alameda ., New York

☆ FTX planned to purchase the Pacific island nation of Nauru to build an apocalypse bunker, lawsuit says
▼ + stars: | 2023-07-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX is suing Sam Bankman-Fried and other former bosses for $1 billion. SBF's brother discussed turning the island country of Nauru into an apocalypse bunker, the suit says. FTX wanted to purchase the Pacific island nation of Nauru to build a bunker in case of an apocalyptic event, according to a new lawsuit. The complaint says that the FTX founder's brother, Gabriel Bankman-Fried, discussed with an officer for the FTX Foundation a scheme to purchase the country of Nauru. A spokesperson for Sam Bankman-Fried did not immediately return Insider's request for comment.

Persons: FTX, Sam Bankman, John J, Ray III —, Gabriel Bankman, Gabe Bankman, Fried Organizations: FTX, EA, FTX Foundation, Twitter Locations: Nauru, It's, Australia

[1/4] Former FTX Chief Executive Sam Bankman-Fried, who faces fraud charges over the collapse of the bankrupt cryptocurrency exchange, departs from his court hearing at a federal court in New York City's Manhattan, U.S. January 3, 2023. REUTERS/David Dee Delgado/Feb 8 (Reuters) - Failed crypto firm FTX received court approval on Wednesday to issue subpoenas to its founder Sam Bankman-Fried and members of his family as part of the company's investigation into "misappropriated and stolen" funds. FTX said in court papers filed Wednesday that most of the subpoena targets had begun cooperating with its investigation. FTX said that it is still in discussions with Ellison and that Sam Bankman-Fried "remains non-responsive." Mind the Gap has previously said that Sam Bankman-Fried did not make any direct contributions to the organization but did donate to some of its recommended programs.

☆ SBF's mom, Caroline Ellison, and former FTX executives are not cooperating with the investigation into the disgraced crypto exchange, filing says
▼ + stars: | 2023-01-27 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

SBF, his mom, his brother, and key executives in his crypto empire aren't cooperating in the FTX bankruptcy case, according to a recent court filing. FTX lawyers said several key insiders have not responded or declined to give requested information related to the collapsed exchange. But discussions with Bankman-Fried's father and another FTX executive have been making progress, the filing said. In particular, former Alameda CEO Caroline Ellison and FTX co-founder Gary Wang have declined to give FTX's lawyers requested information. However, discussions with Bankman-Fried's father Joseph Bankman and former FTX COO Zhe Wang have been making progress, the filing said.

FTX said in a court filing in Wilmington, Delaware, late on Wednesday that the DOJ's proposed review would only add cost and delay to its bankruptcy case. As part of its own investigation, FTX asked U.S. Bankruptcy Judge John Dorsey, who is overseeing its Chapter 11 proceedings, to help it secure documents from Bankman-Fried, members of his family and other insiders with information about FTX transactions that used "misappropriated and stolen" funds. FTX is also seeking information about political donations by Mind the Gap, a political action committee founded by Barbara Fried, and Guarding Against Pandemics, an advocacy organization founded by Sam Bankman-Fried and his brother, Gabriel Bankman-Fried. The U.S. Department of Justice's bankruptcy watchdog has called for an independent investigation into its collapse, a request that received backing from a bipartisan group of U.S. senators. Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his crypto-focused hedge fund, has pleaded not guilty to fraud charges.

☆ FTX wants to ask Sam Bankman-Fried's parents and brother if they received any money from the crypto exchange
▼ + stars: | 2023-01-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Court documents show FTX aims to question Sam Bankman-Fried's parents and brother about their personal wealth, per Bloomberg. The family should provide financial documents about any money they may have received from the company, FTX lawyers said. The bankruptcy judge still has to approve the request before FTX lawyers can move forward. Both of Bankman-Fried's parents have been involved with the company. In addition, Reuters reported in November that a $16.4 million house in the Bahamas listed Bankman-Fried's parents as signatories and was described in property records as a "vacation home."

☆ Sam-Bankman Fried to be released on $250 million bail and will be required to stay with parents ahead of FTX trial
▼ + stars: | 2022-12-22 | by ( Jacob Shamsian | Sindhu Sundar | ) www.businessinsider.com time to read: +6 min

Sam Bankman-Fried was granted release on $250 million bail at a court hearing Thursday. He will be required to surrender his passport and stay with his parents ahead of a federal trial on a list of charges tied to the failure of FTX. Bankman-Fried will be required to attend a court hearing in California at 10 a.m. Friday, Gorenstein ruled. Another court hearing is scheduled for January 3 in Manhattan, where Bankman-Fried is expected to enter a plea. Criminal allegations against Ellison and Wang, first filed on December 19, were unsealed in court on Thursday morning ahead of Bankman-Fried's court appearance.

☆ Sam Bankman-Fried's relatives called the Bahamas prison he's being held at to ask if he can get vegan meals, per Bloomberg
▼ + stars: | 2022-12-15 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

His relatives called the prison to see if he could receive vegan food, a source told Bloomberg. Bankman-Fried's lawyer previously cited his vegan diet as a reason he should be released on bail. One source told the outlet relatives of Bankman-Fried called the prison on Tuesday to ask if he could receive vegan meals. Lawyers for Bankman-Fried tried to use his vegan diet as a reason he should be released while awaiting extradition, CoinDesk reported Tuesday. They asked the court to consider releasing him on a $250,000 bail so he could maintain his vegan diet and stick to his medications, including Adderall and Zyrtec.

☆ Meet Sam Bankman-Fried's family: His parents are Stanford law professors, his aunt is a dean at Columbia, and his brother is the founder of a nonprofit
▼ + stars: | 2022-12-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Sam Bankman-Fried was raised in an academic family based in Silicon Valley. Sam Bankman-Fried cofounded FTX in 2019 and was its CEO. FTXFTX founder Sam Bankman-Fried was arrested in the Bahamas on Monday, in a spectacular fall from grace after his crypto exchange collapsed last month. In November, Reuters reported that a $16.4 million house in the Bahamas listed Bankman-Fried's parents, Joseph Bankman and Barbara Fried, as signatories. Here are some of the prominent members of Bankman-Fried's family.

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