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☆ Ahead of sentencing, SBF team argues for 5-6 years in jail because FTX customers will get money back
▼ + stars: | 2024-03-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Bankman-Fried's fate will be announced in Manhattan on Thursday morning by Judge Lewis Kaplan, who presided over the monthlong trial in November. Bankman-Fried was found guilty of seven charges tied to the collapse of crypto exchange FTX and the roughly $10 billion of customer deposits that went missing. Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last month that they expect to fully repay customers and creditors with legitimate claims. Bankman-Fried's defense team has asked the court for a sentence in the range of 63 to 78 months. Beyond the fact that he's a "first time, nonviolent offender," attorneys for the FTX founder largely lean on the argument that Bankman-Fried's risky bets paid off and the bankruptcy estate expects to fully repay FTX customers.

Persons: Sam Bankman, Fried, Judge Lewis Kaplan, Kaplan, FTX, Andrew Dietderich, —, John Ray III, Michael Kives Organizations: K5 Global, SpaceX Locations: Manhattan, Delaware, Alameda, Bankman, Palo Alto , California

☆ As Sam Bankman-Fried awaits prison sentence, FTX customers await a surprise: full repayment
▼ + stars: | 2024-02-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last week that they expect to fully repay customers and creditors with legitimate claims. After the dust settled from FTX's bankruptcy, Solana saw a huge run-up in its price, and it continued to rally after the September report. The bankruptcy estate of FTX has been looking to sell its Anthropic stake, according to a court filing this month. For FTX customers, being made whole, according to a judge's ruling, means getting the cash equivalent of what their crypto was worth in November 2022.

Persons: Sam Bankman, Fried, FTX, Andrew Dietderich, —, Joseph Bankman, Barbara Fried, Brendan Mcdermid, John Ray III, Michael Kives, Braden Perry, FTX's, Ray, we're, It's, Solana, Lewis Kaplan, Elizabeth Williams, Michael Lewis, Lewis, IOUs, Perry, SBF, Renato Mariotti, Mariotti Organizations: Bankman, Federal Court, Reuters, K5 Global, SpaceX, Commodity Futures Trading Commission, CNBC, Alameda Research, U.S . Justice Department's Securities, Commodities, SEC Chari Locations: FTX, Delaware, Plenty, Palo Alto , California, New York City, U.S, Bankman, Solana, Alameda, FTX's, Anthropic, New York, Brooklyn

☆ Here are the emails, texts and photos that could put Sam Bankman-Fried in prison for life
▼ + stars: | 2023-11-02 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Zoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNYZoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Source: SDNYZoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Zoom In Icon Arrows pointing outwards Government exhibit in the case against former FTX CEO Sam Bankman-Fried.

Persons: Sam Bankman, Fried, FTX, Renato Mariotti, Bryan Cave Leighton, Caroline Ellison, —, Alameda —, Ryan Pinder, Rob Creamer, didn't, Ellison, he'd, HOOD, they'll, FTX's, Sun, Bankman, Stephen Curry, Tom Brady, Giselle Bundchen, Larry David, Nishad Singh, Michael Kives, Bryan Baum, Hillary Clinton, Katy Perry, Orlando Bloom, Leonardo DiCaprio, Kris, Kylie Jenner, SDNY Singh, Baum, Drappi, Jane Rosenberg, Joe Bankman, Ramnik Arora, Ryne Miller, Constance Wang, Ryan Salame, Changpeng Zhao, Michael Lewis, Singh, Lewis Organizations: U.S . Justice Department's Securities, Commodities, Lawyers, U.S, Alameda Research, Alameda, Geneva Trading, FIA, Traders Group, Wall Street Journal, Google, shuttering, Prosecutors, NBA, Major League Baseball, K5, Federal Court Locations: Chicago, Bahamas, Bankman, Alameda, FTX, shuttering Alameda, Hong Kong, New York City, U.S, Sequoia, Alameda's

☆ 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

☆ Sam Bankman-Fried jury sees photo of FTX founder with Katy Perry, Orlando Bloom
▼ + 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: +4 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW York, Oct 16 - The jury at Sam Bankman-Fried's fraud trial on Monday saw a photograph of the FTX cryptocurrency exchange founder with singer Katy Perry and actor Orlando Bloom at the 2022 NFL Super Bowl. Singh is the third former member of Bankman-Fried's inner circle to testify at the trial, which started on Oct. 3. Bankman-Fried has pleaded not guilty to two counts of fraud and five counts of conspiracy tied to FTX's November 2022 collapse. Singh said another FTX executive had told him the deals were meant to help spur user growth. Since his trial, Bankman-Fried has been seen during testimony typing on a laptop and whispering to his lawyers.

Persons: Sam Bankman, Andrew Kelly, Katy Perry, Orlando Bloom, Prosecutors, Nishad Singh, FTX's, Singh, Gary Wang, Caroline Ellison, Alameda's, Fried, Perry, Michael Kives, Tom Brady, Gisele Bundchen, Steph Curry, Larry David, District Judge Lewis Kaplan, Kaplan, Luc Cohen, Nick Zieminski Organizations: FTX, Manhattan, REUTERS, Bowl, Alameda, Miami Heat's, District, Bankman, Prosecutors, New York Times, Brooklyn's Metropolitan Detention Center, Thomson Locations: New York City, U.S, Los Angeles, Brooklyn's, New York

☆ Sam Bankman-Fried's lieutenant Nishad Singh said he was embarrassed by 'flashy' FTX spending
▼ + stars: | 2023-10-16 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +8 min

Singh testified at Bankman-Fried's trial that his concerns were almost always rebuffed. In Manhattan federal court Monday, Singh testified about how he frequently questioned and pushed back against Bankman-Fried's spending sprees and investment decisions — and was almost always rebuffed. "I would hear that my opinions were already factored in, and I didn't need to continue sharing them," Singh testified. Singh testified that he came to know Bankman-Fried through a friendship with the FTX founder's younger brother, Gabe Bankman-Fried. Infighting over expensesThe pair often disagreed on money, Singh testified.

Persons: Nishad Singh, Sam Bankman, Singh, —, Fried, Bill Clinton, Tony Blair, spender, Caroline Ellison, Gary Wang, Gabe Bankman, FTX, SBF, I've, Sam, Tom Brady, Gisele Bündchen, Steph Curry, Kevin O'Leary, Larry David, Jon Kopaloff, Fatih Aktas, Getty Images Singh, Michael Kives, Hillary Clinton, Katy Perry, Orlando Bloom, Ted Sarandos, Jeff Bezos, Kate Hudson, Leonardo DiCaprio, Corey Gamble, Kendall Jenner, Singh wasn't, Kris Organizations: Service, Bankman, Alameda, US Securities and Exchange Commission, University of California, Facebook, Engineering, Sequoia Capital, Yuga, Miami, Major League Baseball, of Legends, Getty Images, Anadolu Agency, K5 Global Locations: Bankman, FTX, Manhattan, Berkeley, Alameda, Bahamas, Kazakhstan, Albany

☆ Sam Bankman-Fried shot a MasterClass video about crypto trading months before FTX collapsed, report says
▼ + stars: | 2023-06-24 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +3 min

FTX cofounder Sam Bankman-Fried shot a MasterClass video on crypto last year, per The New York Times. He recorded the video last summer, months before FTX collapsed, according to the report. FTX cofounder Sam Bankman-Fried is thought to have shot a video for MasterClass, which offers classes taught by celebrity experts, just months before his crypto exchange collapsed. The existence of Bankman-Fried's MasterClass had only been a social media rumor around the time FTX collapsed prior to The Times' report. MasterClass, Bankman-Fried and Kives did not immediately respond to requests for comment from Insider, made outside normal working hours.

Persons: Sam Bankman, FTX, MasterClass, SBF's, Fried, Michael Kives, Kives, Crypto, Changpeng Zhao, Emilie Choi, Paul Krugman, Chris Dixon, Coinbase, Gordon Ramsay, Garry Kasparov, Margaret Atwood, Fried's MasterClass, Katy Perry, Orlando Bloom, Bill Clinton, Elon Musk, Leonardo DiCaprio, Ron DeSantis Organizations: New York Times, Morning, Hollywood, Bankman, MasterClass, Times, Alameda Research Locations: MasterClass, Alameda

☆ The Super Connector Who Built Sam Bankman-Fried’s Celebrity World
▼ + stars: | 2023-06-23 | by ( David Yaffe-Bellany | Erin Griffith | ) www.nytimes.com time to read: +1 min

As they built K5, Mr. Kives and Mr. Baum touted their connections, including with the billionaire financier Warren E. Buffett. In an interview, Mr. Buffett said Mr. Kives was a “name-dropper” who “might pitch that he has a connection to me, but he doesn’t.” Mr. Buffett said he had known Mr. Kives from his time at Creative Artists Agency. Since then, he said, Mr. Kives has contacted him about a few investment opportunities, which he declined. In late 2021, Mr. Kives used his network to forge a relationship with Mr. Bankman-Fried, who was rising in prominence as cryptocurrencies boomed. They got in touch over email, the lawsuit said, and Mr. Kives introduced Mr. Bankman-Fried to the musician Sia.

Persons: Kives, Baum, Warren E, Buffett, dropper, ” Mr, Sia, Fried, Kives’s, Perry, Bloom, FTX Organizations: Creative Artists Agency, Super, K5 Locations: Beverly Hills, Calif, Bahamas

NEW YORK, June 22 (Reuters) - Bankrupt crypto exchange FTX on Thursday sued a former aide to Hilary Clinton and the former aide's investment firm, seeking to claw back $700 million in investments allegedly made with misappropriated FTX funds. Bankman-Fried authorized investments in K5 projects that enriched Kives and Baum with no payoff for FTX or its customers, who were footing the bill, FTX alleged. FTX has also filed lawsuits over its pre-bankruptcy investment in the stock platform Embed and its payments toGenesis Global Capital, the bankrupt lending arm of crypto firm Genesis. FTX on Wednesday announced a settlement with the Metropolitan Museum of Art, in which the museum agreed to return $550 million in donations that it received from FTX companies in 2022. Reporting by Dietrich Knauth in New York Editing by Alexia Garamfalvi and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Hilary Clinton, misappropriated, FTX, Sam Bankman, Fried, Michael Kives, Bryan Baum, Clinton, Arnold Schwarzenegger, Katy Perry, I've, Baum, Kendall Jenner's, SBF, Elizabeth Ashford, Kives, Dietrich Knauth, Alexia Garamfalvi, Matthew Lewis Organizations: YORK, K5 Global, Democratic, Republican, U.S . Securities, Exchange Commission, K5, Genesis Global Capital, Wednesday, Metropolitan Museum of Art, Thomson Locations: Wilmington , Delaware, Democratic U.S, New York, Republican California, FTX

☆ Wall Street titan Apollo has a new class of dealmakers. Here's how 3 rose to partner while in their 30s.
▼ + stars: | 2022-11-17 | by ( Casey Sullivan | Hayley Cuccinello | ) www.businessinsider.com time to read: +23 min

He persevered through the brutal all-nighters, the perplexing spreadsheets, and the temperamental bosses who walked the halls of the midtown Manhattan investment firm. At Apollo, executives tend to grow up quickly. Some of their former colleagues have tried to make more money elsewhere, such as the hedge funds run by billionaire personalities that Apollo's executives quietly root against. Associates sometimes dealt with burnout from heavy workloads and demanding bosses by escaping for a walk through Central Park to let off steam, according to the former firm associates. We're Rayman Apollo!'"

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