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☆ Swiss Banque Pictet pays $123 mln for helping clients evade US taxes
▼ + stars: | 2023-12-04 | 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: +2 min

According to prosecutors, U.S. taxpayers with Pictet accounts in Switzerland and elsewhere evaded about $50.6 million in taxes between 2008 and 2014. As part of the agreement, Banque Pictet agreed to pay $122.9 million to the U.S. Treasury. As part of the agreement, Pictet, which oversees 632 billion Swiss francs ($724 billion) in client assets, will implement remedial measures and cooperate with the authorities' investigation. U.S. authorities have long accused Swiss banks of helping wealthy Americans evade taxes, and Pictet signalled it had been in contact with the U.S. for more than a decade. Credit Suisse in 2014 agreed to pay a $2.5 billion fine for helping Americans evade taxes in a conspiracy that spanned decades.

Persons: Andrew Kelly, Banque Pictet, Jim Lee, Pictet, Julius Baer, Renaud de Planta, Marc Pictet, Luc Cohen, Noele, Jan Harvey, Bill Berkrot, Christina Fincher Organizations: Internal Revenue Service, Washington , D.C, REUTERS, Banque Pictet, Justice Department, Banque, U.S . Treasury, U.S, Credit Suisse, UBS, Prosecutors, Noele Illien, Thomson Locations: Washington ,, Swiss, Switzerland, Pictet, New York, Zurich

The official told Gupta - who the prosecutors described as an Indian national involved in drugs and weapons trafficking - about a "target" in New York. The official wanted Gupta to orchestrate the target's murder, in exchange for getting criminal charges against him in India dropped. While prosecutors have not identified the alleged victim, a senior administration official told Reuters it was Gurpatwant Singh Pannun, a New York-based lawyer who leads a separatist group called Sikhs for Justice. U.S. prosecutors did not name the Indian official, who they described as a government employee responsible for intelligence and security matters. "We are all counting on you," Gupta told the purported hitman in a video call on June 12.

Persons: Nikhil Gupta, Gupta, Gurpatwant Singh Pannun, Pannun, Narendra Modi's, Gupta's, Jake Sullivan, Hardeep Singh Nijjar, Nijjar, Modi, Joe Biden, Justin Trudeau, Luc Cohen, Krishn Kaushik, Trevor Hunnicut, Heather Timmons Organizations: U.S . Department of Justice, Indian, Reuters, Justice, Administration, Manhattan, National Security, U.S, White, Canadian, Thomson Locations: Manhattan, New York City, U.S, DELHI, Indian, New York, India, India's Gujarat, United States, Washington, New Delhi, Vancouver, Prague, Delhi

Prosecutors did not name the Indian official or the target, although they did describe the latter as a U.S. citizen of Indian origin. The Indian official is described in the related indictment as a "senior field officer" with responsibilities in "security management" and "intelligence" employed by the Indian government who "directed the plot from India." It was a "matter of concern" that an Indian government official was linked to the plot, foreign ministry spokesperson Arindam Bagchi said on Thursday, adding, "This is also contrary to government policy." 'WE HAVE SO MANY TARGETS'According to U.S. prosecutors, the Indian official recruited Gupta in May 2023 to orchestrate the assassination. The groups have kept alive the movement for Khalistan, or the demand for an independent Sikh state to be carved out of India.

Persons: Nikhil Gupta, Gurpatwant Singh Pannun, Gupta, Hardeep Singh Nijjar, Damian Williams, Biden, Bill Burns, Narendra Modi, Jake Sullivan, Antony Blinken, National Intelligence Avril Haines, Arindam Bagchi, Bagchi, Adrienne Watson, credibly, Pannun, Nijjar, Luc Cohen, Krishn Kaushik, Shivam Patel, Jeff Mason, David Brunnstrom, Heather Timmons, Clarence Fernandez Organizations: U.S . Department of Justice, Indian, U.S . Justice, New, New York City, Prosecutors, Biden, National, National Intelligence, White House National Security Council, Reuters, Administration, Air, Air India Boeing, Thomson Locations: Manhattan, New York City, U.S, New York, India, United States, Canada, Czech, Vancouver, New Delhi, China, Air India, Washington

☆ Indian gov't official directed Sikh separatist's assassination plot in US, DOJ says
▼ + stars: | 2023-11-29 | 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: +3 min

NEW YORK, Nov 29 (Reuters) - An Indian government official directed an unsuccessful plot to assassinate a Sikh separatist on U.S. soil, the U.S. Justice Department said on Wednesday, in announcing charges against a man accused of orchestrating the attempted murder. Prosecutors did not name the Indian official or the target. According to prosecutors, the official recruited Gupta in May 2023 to orchestrate the assassination. The Indian government has complained about the presence of Sikh separatist groups outside India, including in Canada and the United States. The groups have kept alive the movement for Khalistan, or the demand for an independent Sikh state to be carved out of India.

Persons: Nikhil Gupta, Gupta, Damian Williams, Gurpatwant Singh Pannun, Hardeep Singh Nijjar, Nijjar, Luc Cohen, Doina Chiacu, Susan Heavey, Chizu Nomiyama, Mark Porter, Daniel Wallis Organizations: Indian, U.S . Justice, New York City, Prosecutors, Biden, Administration, Air, Air India Boeing, Thomson Locations: U.S, Manhattan, New York, India, Czech, New York City, Washington, United States, New Delhi, Canada, India's Punjab, Vancouver, Air India

☆ Israeli private detective sentenced in US to 6-2/3 years for hacker-for-hire scheme
▼ + stars: | 2023-11-16 | 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: +3 min

REUTERS/Michael Dalder/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - A U.S. court on Thursday sentenced an Israeli private detective to 6-2/3 years in prison for organizing global hacking campaigns against thousands of people including climate change activists and critics of German company Wirecard. In sentencing Azari in federal court in Manhattan, U.S. District Judge John Koeltl said the hacking had a "devastating impact" on its victims. "Your Honor, I made a mistake," Azari said in court through a Hebrew interpreter before the sentence was handed down. Prosecutors did not allege any link between Azari and Exxon, which denied any connection to Azari or his hacking campaign. Three victims who spoke in court, including two climate activists, said they still wanted to learn his clients' identities.

Persons: Michael Dalder, Aviram, Azari, John Koeltl, Prosecutors, Barry, Luc Cohen, Cynthia Osterman Organizations: Wirecard AG, REUTERS, District, Prosecutors, U.S, Exxon Mobil Corp, Exxon, Reuters, Thomson Locations: Aschheim, Munich, Germany, United States, Manhattan, U.S, New York, Azari, India

CENTRAL ISLIP, New York, Nov 14 (Reuters) - A former fundraiser for indicted U.S. Representative George Santos pleaded guilty to fraud on Tuesday, adding to the pressure on the embattled New York Republican. U.S District Judge Joanna Seybert accepted the plea, part of an agreement with federal prosecutors, and set Miele's sentencing for April 30. At the hearing, Miele admitted he pretended he was chief of staff to the then minority leader of the U.S. House of Representatives, Kevin McCarthy, to help solicit contributions for Santos' campaign. Miele is the second person close to Santos to plead guilty to federal charges in recent weeks. Nancy Marks, Santos' former campaign treasurer, pleaded guilty on Oct. 5 to a conspiracy charge for inflating his 2022 congressional campaign's fundraising numbers.

Persons: Representative George Santos, Samuel Miele, Joanna Seybert, Miele, Santos, Kevin McCarthy, Joseph Murray, Miele's, Nancy Marks, Tom Hals, Daniel Wallis Organizations: U.S, Representative, New York Republican, U.S . House, Representatives, Thomson Locations: ISLIP , New York, Long Island, Santos, Wilmington , Delaware

Former U.S. President Donald Trump speaks on the day he attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 6, 2023. Engoron is unlikely to grant the request as he has already found that Trump and 10 of his businesses committed persistent fraud. However, Engoron's ruling covered only one of the seven fraud counts Trump faces. Trump, the frontrunner for the 2024 Republican presidential nomination, has testified along with his sons Donald Jr. and Eric Trump and daughter Ivanka Trump. The fraud trial is one of several legal battles Trump faces as he mounts a comeback bid for the White House.

Persons: Donald Trump, Shannon Stapleton, Donald Trump’s, Trump, Letitia James, Arthur Engoron, Donald Jr, Eric Trump, Ivanka Trump, James, Christopher Kise, There's, ” Kise, Engoron, they’re, Kise, Jack Queen, Luc Cohen, Jonathan Stempel, Andy Sullivan, Noeleen Waldeer, Lisa Shumaker, Alistair Bell Organizations: U.S, Trump Organization, Court, REUTERS, New, New York, Trump, White, Republican, Thomson Locations: New York, Manhattan, New York City, U.S, York

☆ US judge to weigh JPMorgan's $290 million settlement with Epstein accusers
▼ + stars: | 2023-11-09 | 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: +2 min

The settlement covered more than 100 women, led by a former ballet dancer known as Jane Doe 1, who said Epstein abused them. It followed embarrassing disclosures that JPMorgan ignored internal warnings and overlooked red flags about Epstein because he had been a valuable client. JPMorgan in September agreed to pay $75 million to settle related claims by the U.S. Virgin Islands, where Epstein owned two islands. Rakoff on Oct. 20 gave final approval to a similar $75 million settlement between Epstein's accusers and Deutsche Bank (DBKGn.DE), where Epstein banked after JPMorgan fired him. Epstein died in a Manhattan jail cell in 2019 at age 66 while awaiting trial on sex trafficking charges.

Persons: Morgan, Stephanie Keith, JPMorgan Chase's, Jeffrey Epstein, Jed Rakoff, Epstein, Rakoff, Jane Doe, Sarah Ransome, Ghislaine Maxwell, Epstein's, Luc Cohen, Daniel Wallis Organizations: REUTERS, JPMorgan, Washington D.C, U.S ., Deutsche Bank, US, Islands, Thomson Locations: New York City, U.S, Manhattan, Washington, U.S . Virgin Islands, Rakoff, New York

Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 6, 2023. Trump's testimony wrapped up in midafternoon. Over roughly four hours on the witness stand, Trump often avoided direct answers, instead bragging about his properties and his wealth. New York state lawyers said in their lawsuit that the estimates misled lenders and insurers, earning him more than $100 million and exaggerating his wealth by $2 billion. At one point when Trump was on the stand, Engoron asked Kise to take Trump to the back of the courtroom and "explain the rules."

Persons: Donald Trump, Eduardo Munoz, Arthur Engoron, Trump, Engoron, Christopher Kise, Ivanka, Letitia James, Alina Habba, I've, James, Kise, Eric, Donald Jr, Michael Cohen, Trump's, Jack Queen, Luc Cohen, Andy Sullivan, Scott Malone, Lisa Shumaker, Grant McCool Organizations: U.S, Trump Organization, Court, REUTERS Acquire, Companies Trump Organization, Trump, Republican, New, Deutsche Bank, Mar, Thomson Locations: New York, Manhattan, New York City, U.S, midafternoon, Doral, Florida, Springs, United States

[1/10] Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., November 6, 2023. You’ve made it important, but it wasn’t," Trump said of the estimates. New York state lawyers argued in their lawsuit that the estimates misled lenders and insurers, earning him $100 million and exaggerating his wealth by $2 billion. Trump's crowded legal calendar threatens to take him off the campaign trail for much of next year. The trial was originally scheduled to run through early December but could wrap up sooner as the state calls its final witnesses this week.

Persons: Donald Trump, David Dee Delgado, Trump, Judge Arthur Engoron, Engoron, Letitia James, “ I’m, Trump's, Mr Kise, Christopher Kise, James, Eric, Donald Jr, Michael Cohen, Ivanka, Jack Queen, Luc Cohen, Andy Sullivan, Scott Malone, Lisa Shumaker, Grant McCool Organizations: U.S, Trump Organization, Court, REUTERS Acquire, New York, Trump, New York Democrats, Republican, Thomson Locations: New York, Manhattan, New York City, U.S, Doral, Florida, York, Lago, glower, New

☆ A timeline of Sam Bankman-Fried trial: Key moments leading up to FTX founder's conviction
▼ + stars: | 2023-11-03 | 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

Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York City, U.S., July 26, 2023. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Bankman-Fried debuts on the Forbes billionaires list, which estimates his net worth at $22.5 billion. Alameda gives crypto lender Voyager Digital a $200 million credit facility, and FTX gives lender BlockFi a $250 million loan. In a post-arrest blog post, Bankman-Fried denies stealing funds and blames FTX's collapse on a broader downturn in crypto markets.

Persons: Sam Bankman, Fried, Amr Alfiky, Gary Wang, Larry David, CoinDesk, Binance, FTX, Changpeng Zhao, David, Tom Brady, Wang, Caroline Ellison, District Judge Lewis Kaplan, Nishad Singh, Kaplan revokes, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: United, REUTERS, Massachusetts Institute of Technology, Jane Street Capital, Alameda Research, Google, Forbes, Alameda, NFL, DEC, U.S, District, New York Times, Metropolitan Detention Center, Thomson Locations: New York City, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California, New York

After Kaplan left the courtroom, Cohen put his arm around Bankman-Fried as they spoke at the defense table. He testified that while he made mistakes running FTX, such as not formulating a risk-management team, he did not steal customer funds. "We thought that we might be able to build the best product on the market," Bankman-Fried testified. The defense argued the three, who have not yet been sentenced, falsely implicated Bankman-Fried in a bid to win leniency at sentencing. Bankman-Fried has been jailed since August after Kaplan revoked his bail, having concluded he likely tampered with witnesses.

Persons: Sam Bankman, Fried, Bankman, FTX, Damian Williams, Williams, Bernie Madoff, Jordan Belfort, District Judge Lewis Kaplan, Mark Cohen, Kaplan, Cohen, nodded, Joseph Bankman, Barbara Fried, Fried's, Danielle Sassoon, Caroline Ellison, Gary Wang, Nishad Singh, Luc Cohen, Jody Godoy, Will Dunham, Daniel Wallis Organizations: U.S . Justice, U.S, District, Massachusetts Institute of Technology, Marshals, Stanford Law, Prosecutors, Alameda Research, Former Alameda, Thomson Locations: Manhattan, Bankman, New York City, U.S, FTX, Alameda, New York, Lincoln

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Nov 1 (Reuters) - Sam Bankman-Fried's fraud trial is in the homestretch, with U.S. prosecutors and defense lawyers expected on Wednesday to present closing arguments to jurors over whether the FTX cryptocurrency exchange founder stole billions of dollars from customers. Prosecutors have accused him of stealing $8 billion in one of the biggest financial frauds in U.S. history. During his second day of testimony on Monday - when the prosecution began its cross-examination - Bankman-Fried said "I don't recall" at least 28 times. Closing arguments probably will take several hours, and jurors are not expected to get the case before Thursday. He has been jailed since August after Kaplan revoked his bail, having concluded that he likely tampered with witnesses.

Persons: Sam Bankman, Fried, Danielle Sassoon, Jane Rosenberg, FTX, Mark Cohen, Sassoon, District Judge Lewis Kaplan, Kaplan, Luc Cohen, Will Dunham Organizations: REUTERS, U.S, Alameda Research, Prosecutors, District, Thomson Locations: New York City, U.S, Manhattan, Alameda, FTX, New York

☆ Sam Bankman-Fried grilled on 'cozy' relationship with Bahamas officials
▼ + stars: | 2023-10-31 | 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: +3 min

REUTERS/Jane Rosenberg Acquire Licensing RightsNEW YORK, Oct 31 (Reuters) - FTX founder Sam Bankman-Fried was grilled on Tuesday about what a U.S. prosecutor called his "cozy" relationship with officials in the Bahamas, where the cryptocurrency exchange was based before its November 2022 collapse. Sassoon asked. Bankman-Fried testified on Tuesday he could not remember whether he offered to pay off the Bahamas' national debt. Sassoon at one point asked Bankman-Fried whether he had "cultivated a cozy relationship" with the Bahamian government - a question to which the defense objected. Bankman-Fried testified that he had spent time with Bahamian officials and became close with "some of them."

Persons: Sam Bankman, Fried, Danielle Sassoon, Jane Rosenberg, Sassoon, Gary Wang, Bankman, District Judge Lewis Kaplan, Luc Cohen, Will Dunham Organizations: REUTERS, Alameda Research, FTX's, Miami Heat National Basketball Association, Bahamian, District, Thomson Locations: New York City, U.S, Bahamas, Manhattan, Alameda, Washington, New York

FTX founder Sam Bankman-Fried testifies in his fraud trial over the collapse of the bankrupt cryptocurrency exchange, at federal court in New York City, U.S., October 27, 2023 in this courtroom sketch. REUTERS/Jane Rosenberg/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowOct 30 (Reuters) - FTX founder Sam Bankman-Fried is set on Monday to resume testifying at his fraud trial on charges related to the cryptocurrency exchange's collapse last year. Here are five key moments from Bankman-Fried's testimony so far. HIGH-END HOUSING AND ENDORSEMENT DEALSBankman-Fried testified that FTX corporate cash paid for high-end housing for employees in the Bahamas and endorsement deals. "We didn't care if a user withdrew funds and used them to buy muffins, to pay business expenses, to invest or anything else," Bankman-Fried testified.

Persons: Sam Bankman, Fried, Jane Rosenberg, Jody Godoy, Luc Cohen, Noeleen Walder, Will Dunham Organizations: REUTERS, PEOPLE, Alameda Research, Prosecutors, Massachusetts Institute of Technology, Thomson Locations: New York City, U.S, FTX's, Bahamas, Alameda, ALAMEDA, New York

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court in New York, U.S., August 11, 2023. Bankman-Fried has pleaded not guilty to two counts of fraud and five counts of conspiracy. Prosecutors have said he looted billions of dollars in FTX customer funds to prop up his hedge fund, Alameda Research, make speculative venture investments, and contribute to U.S. political campaigns. His decision to testify in his own defense is risky, as it opens him up to probing cross-examination by prosecutors. Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Mark Cohen, FTX, Fried, District Judge Lewis Kaplan, Luc Cohen, Will Dunham Organizations: REUTERS, Prosecutors, Alameda Research, Reuters, U.S, District, Thomson Locations: New York, U.S

"We thought that we might be able to build the best product on the market," Bankman-Fried said during his six hours of testimony in Manhattan federal court. Bankman-Fried on Friday testified that while Ellison provided him a spreadsheet she was considering sending to a lender, he did not look at it in detail. On Friday, Bankman-Fried sought to place much of the blame for Alameda's failure on Ellison. Bankman-Fried was questioned by both sides on Thursday without jurors present as the judge assessed what parts of his testimony would be admissible. Prosecutors will get their first chance to question Bankman-Fried with jurors present when they cross-examine him next week.

Persons: Sam Bankman, Fried, Caroline Ellison, Mark Cohen's, Ellison, Gary Wang, Wang, Nishad Singh, FTX, Cohen, Jody Godoy, Luc Cohen, Will Dunham, Daniel Wallis Organizations: Alameda Research, Prosecutors, Alameda, FTX, Thomson Locations: Alameda, Manhattan, New York

☆ Sam Bankman-Fried could take stand at fraud trial over FTX collapse
▼ + stars: | 2023-10-26 | 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: +3 min

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Bankman-Fried has pleaded not guilty and maintained that while he made mistakes running FTX, he never intended to steal funds. They say Alameda looted FTX funds through special trading privileges on the exchange. Cohen said the defense plans to call three brief witnesses before Bankman-Fried takes the stand. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Fried, Mark Cohen, Bankman, Mark Troiano, Cohen, FTX, Luc Cohen, Noeleen Walder, Jonathan Oatis Organizations: REUTERS, Alameda Research, Thomson Locations: New York, U.S, Alameda, Manhattan

Companies Trump Organization Inc FollowNEW YORK, Oct 24 (Reuters) - Donald Trump's former lawyer and fixer Michael Cohen testified on Tuesday that he manipulated the values of the former U.S. president's real estate properties to match "whatever number Mr. Trump told us." Testifying as a key witness in New York Attorney General Letitia James' civil fraud case against Trump, Cohen said Trump tasked him and other former Trump Organization executives with doctoring financial statements to boost the value of the company's holdings and secure better real estate premiums. Speaking to reporters outside the courtroom when the trial ended for the day, Trump called Cohen a "disgraceful fellow." During about a half hour of cross-examination on Tuesday, Cohen - a disbarred lawyer - rattled off case law to support an objection by the attorney general to a question by Trump lawyer Alina Habba. James is seeking at least $250 million in fines, a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization.

Persons: Donald Trump's, Michael Cohen, Trump, Letitia James, Cohen, I'm, intently, Allen Weisselberg, James, Donald, COHEN, Colleen Faherty, Alina Habba, Nixon, Richard Nixon, Arthur Engoron, Engoron, Donald Jr, Eric, Jack Queen, Luc Cohen, Noeleen Walder, Nick Zieminski, Lisa Shumaker, Rod Nickel Organizations: Companies Trump Organization, Trump, Trump Organization, Democrat, Court, REUTERS, Supreme, Thomson Locations: U.S, New, New York, Manhattan, New York City, Russia, United States

[1/2] Former U.S. President Donald Trump attends the Trump Organization civil fraud trial, in New York State Supreme Court in the Manhattan borough of New York City, U.S., October 24, 2023. Cohen, who cut ties with Trump five years ago, will undergo more cross-examination by Trump's lawyers determined to undermine his credibility. Cohen testified on Tuesday that Trump "arbitrarily" inflated the value of the Trump Organization's real estate assets to secure favorable insurance premiums. James is seeking at least $250 million in fines, a permanent ban against Trump and his sons Donald Jr and Eric from running businesses in New York and a five-year commercial real estate ban against Trump and the Trump Organization. Reporting by Jack Queen and Luc Cohen in New York; Editing by Noeleen Walder and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Donald Trump, Mike Segar, Michael Cohen, Cohen, Trump, Letitia James, Alina Habba, Arthur Engoron, James, Donald Jr, Eric, Engoron, Jack Queen, Luc Cohen, Noeleen Walder, Bill Berkrot Organizations: U.S, Trump Organization, Court, REUTERS, Trump, New, Thomson Locations: New York, Manhattan, New York City, U.S, Russia

Senator Bob Menendez is set to enter a plea on Monday to a new indictment charging him with conspiring to act as an unregistered foreign agent for the Egyptian government. In an Oct. 12 statement, Menendez said "piling new charge upon new charge does not make the allegations true." Nadine Menendez and one of the businessmen, Wael Hana, pleaded not guilty to the foreign agent charge on Oct. 18. Under the Foreign Agents Registration Act, individuals must register with the department if they act as "an agent of a foreign principle." In return, the businessman put Nadine Menendez on the payroll of a company he controlled, prosecutors said.

Persons: Bob Menendez, Craig Hudson, Menendez, Sidney Stein, Nadine Menendez, Wael Hana, Hana, Luc Cohen, Noeleen Walder, Jonathan Oatis Organizations: Democratic, Capitol, REUTERS, New, New Jersey Democrat, Senate Foreign Relations, Foreign, Prosecutors, Thomson Locations: Washington , U.S, New Jersey, Jersey, New York

☆ Sam Bankman-Fried's lawyers avoid challenges to 'cartoon' villain image
▼ + stars: | 2023-10-23 | 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

Defense lawyers will have a chance to put forward a competing narrative when they present their case, beginning as soon as Thursday. A STRATEGIC CHOICEAllowing specific unfavorable accounts by prosecution witnesses to go unchallenged on cross-examination could be a strategic choice by the defense, according to experts. During opening statements, Cohen told jurors of the prosecutors: "They'd have you think he was quite the villain, or, more precisely, almost a cartoon of a villain. "It was pretty humiliating," said Singh, who has pleaded guilty to fraud charges. Ellison, who has also pleaded guilty to fraud, said Bankman-Fried told her that his signature sloppy dress and wild mop of curly locks was an "important part of FTX's image."

Persons: Sam Bankman, Andrew Kelly, Fried, Bankman, doesn't, Jordan Estes, Kramer Levin, Mark Cohen, Cohen, Rachel Maimin, Lowenstein Sandler, Sam, gooder, Nishad Singh, Singh, Caroline Ellison, Alameda's, Ellison, Luc Cohen, Will Dunham, Amy Stevens Organizations: FTX, Manhattan, REUTERS, Alameda Research, Thomson Locations: New York City, U.S, Manhattan, Washington, Alameda, New York

☆ Sam Bankman-Fried sought 'justifications' for missing funds, lawyer testifies
▼ + stars: | 2023-10-19 | 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: +3 min

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNEW YORK, Oct 19 (Reuters) - Cryptocurrency exchange FTX's former top lawyer testified on Thursday that its founder Sam Bankman-Fried asked him to come up with "legal justifications" for why it was missing $7 billion in customer funds four days before the company declared bankruptcy. Sun said he told Bankman-Fried later that day that he could not identify any legal justifications. Sun's testimony could complicate Bankman-Fried's defense that he had a good-faith belief that Alameda's use of FTX customer funds was appropriate. They have said Bankman-Fried is considering testifying in his own defense after the prosecution rests its case on Oct. 26. Sun testified earlier on Thursday that Bankman-Fried told him that the company had kept its customer funds safe and separate from its own assets, and that he never approved the lending of FTX customer funds to Alameda Research.

Persons: Sam Bankman, Andrew Kelly, Fried, Apollo, Sun, FTX, Bankman, Danielle Sassoon, Luc Cohen, Will Dunham Organizations: FTX, Manhattan, REUTERS, Alameda Research, Thomson Locations: New York City, U.S, Bankman, Alameda, Manhattan, Bahamas, New York

☆ Sam Bankman-Fried trial jury sees his profane message about regulators
▼ + stars: | 2023-10-18 | 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: +2 min

It was one of several private messages that Bankman-Fried sent to a reporter for the news website Vox on Twitter, the social media platform now called X, that the defense sought to keep away from the jury during the trial in Manhattan federal court. In the trial, which began on Oct. 3, Bankman-Fried stands accused of looting billions of dollars in FTX customer funds to make investments, donate to U.S. political campaigns and prop up his hedge fund, Alameda Research. In one of the messages, Bankman-Fried told the reporter, "fuck regulators" and quickly added in another message, "they make everything worse." Bankman-Fried wrote that his prior statements in favor of regulating cryptocurrency were "just PR," meaning public relations. Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Andrew Kelly, Fried, Vox, Danielle Sassoon, Christian Everdell, Luc Cohen, Will Dunham Organizations: FTX, Manhattan, REUTERS, Twitter, Alameda Research, Prosecutors, Thomson Locations: New York City, U.S, Manhattan, New York

☆ Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'
▼ + stars: | 2023-10-17 | 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: +3 min

REUTERS/Eduardo Munoz//File Photo Acquire Licensing RightsNEW YORK, Oct 17 (Reuters) - FTX founder Sam Bankman-Fried's lawyer on Tuesday said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous," pushing back against testimony by a former executive who called its spending on marketing and celebrity endorsements excessive. This is the third week of Bankman-Fried's trial in Manhattan federal court on charges related to the looting billions of dollars in customer funds to make investments, donate to U.S. political campaigns and prop up his hedge fund, Alameda Research. Bankman-Fried, who has pleaded not guilty, has argued that while he made mistakes running FTX, he never intended to steal funds. Jurors have already heard from Gary Wang, FTX's former chief technology officer, and Caroline Ellison, Alameda's onetime chief executive officer and Bankman-Fried's former girlfriend. Reporting by Luc Cohen in New York; Editing by Will DunhamOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Nishad Singh, Tom Brady, Mark Cohen, Singh, Fried, K5, Cohen, Kendall Jenner's, Gary Wang, FTX's, Caroline Ellison, Alameda's, Luc Cohen, Will Dunham Organizations: REUTERS, Miami Heat, NFL, Defense, Tuesday, K5, Alameda Research, Thomson Locations: New York, U.S, Bankman, Manhattan

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