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Search resuls for: "Kara Scannell Allison Morrow"


3 mentions found


☆ Sam Bankman-Fried wants his case thrown out of court
  + stars: | 2023-05-08 | by ( Kara Scannell Allison Morrow | Kara Scannell | Allison Morrow | ) edition.cnn.com   time to read: +1 min
New York CNN —Lawyers for FTX founder Sam Bankman-Fried on Monday filed motions to dismiss the US government’s fraud charges against him. Bankman-Fried’s attorneys said the government failed to properly explain what offenses the former CEO of the bankrupt crypto exchange committed. Bankman-Fried has pleaded not guilty to the 13 charges. Prosecutors allege that Bankman-Fried stole FTX customer deposits to finance risky bets at his hedge fund, Alameda Research, and to funnel contributions to American politicians. Three of Bankman-Fried’s former business partners — Gary Wang, Caroline Ellison and Nishad Singh — have pleaded guilty to numerous charges and are cooperating with investigators.
☆ Stanford scholars co-signed Sam Bankman-Fried’s $250 million bond
  + stars: | 2023-02-15 | by ( Kara Scannell Allison Morrow | Kara Scannell | Allison Morrow | ) edition.cnn.com   time to read: +2 min
New York CNN —A federal judge released the names of two people who co-signed Sam Bankman-Fried’s $250 million bond, which allowed him to be released on house arrest while he awaits trial on federal fraud and conspiracy charges. Bankman-Fried’s parents, both Stanford law professors, are also guarantors, and used their Palo Alto, California, home to secure the bond. In a statement to CNN, Kramer described Joe Bankman and Barbara Fried as close friends since the mid-1990s. The release of the guarantors’ names came a day before Bankman-Fried was set to appear in New York federal court for a bond hearing. Bankman-Fried’s lawyers said in a letter to the judge that Bankman-Fried used the VPN to access an football games via an international subscription.
☆ Sam Bankman-Fried seeks bail deal while being extradited to US
  + stars: | 2022-12-21 | by ( Kara Scannell Allison Morrow | Kara Scannell | Allison Morrow | ) edition.cnn.com   time to read: +2 min
New York CNN —Lawyers for Sam Bankman-Fried are negotiating with federal prosecutors in New York on a bail arrangement that would enable him to avoid detention, people familiar with the matter told CNN. FTX crypto exchange founder Bankman-Fried, who oversaw his now-bankrupt crypto empire from a luxury compound in the Bahamas, is expected to return as early as Wednesday to the United States. Sam Bankman-Fried is escorted out of court following a hearing in the Bahamas on Monday. Rebecca Blackwell/APIn the week and a half since his arrest in the Bahamas, Bankman-Fried has been held in a prison that US officials have described overcrowded, dirty and lacking medical care. Facing life in prisonFederal prosecutors last week charged Bankman-Fried with defrauding investors and customers of FTX, which he founded in 2019.
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