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Sam Bankman-Fried has been sentenced to 25 years in prison. US District Judge Lewis Kaplan sentenced Bankman-Fried Thursday to 25 years in prison. In his sentencing, Kaplan described Bankman-Fried as ambitious and deceitful, willing to gamble with his customers' livelihoods. He knew it was criminal," Kaplan said as Bankman-Fried slumped in his chair. AdvertisementNow that Bankman-Fried's sentencing is over, Kaplan, the judge, will likely swiftly order sentencing hearings for Ellison, Wang, and Singh.

Persons: Sam Bankman, Fried, —, Lewis Kaplan, Bankman, Kaplan, Prosecutors, Bernie Madoff, Marc Mukasey, Mukasey, perjured, it's, FTX, Caroline Ellison, Gary Wang, Nishad Singh —, Ellison, Wang, Singh, Ryan Salame, I've, didn't, John J, Ray III, Ray, Joseph Bankman, Barbara Fried Organizations: Service, Justice Department, FTX, Alameda Research, Prosecutors, Detention, Federal Bureau of Prisons Locations: Manhattan, FTX, Bahamas, Washington , DC, Brooklyn's, San Francisco

☆ 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 lied under oath to shape his story around ex-friends who testified against him, prosecutors say in scathing closing argument
▼ + stars: | 2023-11-01 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +6 min

Prosecutors say Sam Bankman-Fried lied under oath on the witness stand. AdvertisementAdvertisementIn closing arguments for Sam Bankman-Fried's criminal trial Wednesday, prosecutors say the disgraced cryptocurrency mogul repeatedly lied on the witness stand. Prosecutors allege Bankman-Fried defrauded millions of FTX customers by stealing their deposits and using them for Alameda. He used the money, prosecutors say, for personal investments, to repay loans, in extravagant advertising, to buy properties around the world, and for political donations. AdvertisementAdvertisementAlameda's account on FTX, Roos pointed out, did not even have the spot-margin trading option enabled.

Persons: Sam Bankman, Fried, —, he's, Nicholas Roos, Roos, Mark Cohen, Danielle Sassoon, — Caroline Ellison, Gary Wang, Nashad Singh —, Ryan Salame, Adam Yedidia, Sun Organizations: Service, MIT, Alameda Research, Miami Heat, Prosecutors Locations: Manhattan, Bankman, Alameda, FTX, Washington

☆ For days Sam Bankman-Fried, the MIT grad who founded FTX, repeatedly told a jury he couldn't remember actions from his time as CEO
▼ + stars: | 2023-10-31 | by ( Katie Balevic | ) www.businessinsider.com time to read: +9 min

It was during those hours of questioning that Bankman-Fried repeatedly said he couldn't recall specific details from his time as CEO of FTX, his now-defunct cryptocurrency exchange. Asked whether his support for regulation in the crypto industry was contingent upon protecting customers, Bankman-Fried testified Monday: "I don't recall that specifically, no." He similarly struggled to recall whether he ever mentioned to the public that while trading on FTX, Alameda didn't play by the same rules as other customers. AdvertisementAdvertisementBankman-Fried's instructions as CEO were just 'suggestions'Chelsea Jia Feng/InsiderBankman-Fried insisted on the stand that he didn't recall making various instructions to his employees, especially those like Ellison, Gary Wang, and Nishad Singh. Asked if he instructed Ellison to purchase cryptocurrencies in her capacity as co-CEO of Alameda, Bankman-Fried was vague, saying, "I don't recall an instance.

Persons: Sam Bankman, Lewis Kaplan, —, Fried, Danielle Sassoon, FTX, SBF, FTX's, Judge Lewis Kaplan, Caroline Ellison, Eduardo Munoz Alvarez, Sam Trabucco, beholden, Sassoon, Chelsea Jia Feng, Ellison, Gary Wang, Nishad Singh, I'm, Jane Rosenberg, Gary, Nishad, Ryan Salame, it's, Mark Cohen, Judge Kaplan Organizations: Service, Alameda Research, Alameda, REUTERS Locations: Bankman, Manhattan, Alameda, FTX

☆ Sam Bankman-Fried defense rests in criminal trial, closing arguments kick off Wednesday
▼ + stars: | 2023-10-31 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +6 min

FTX Founder Sam Bankman-Fried leaves Manhattan Federal Court after a court appearance on June 15, 2023 in New York City. When he asked his deputies about the hole, Bankman-Fried testified that they "told me they were busy and I should stop asking questions because it was distracting." Bankman-Fried testified that he was growing frustrated with regulators and skeptical about what they were doing. After the mid-morning break, Cohen asked Bankman-Fried to clarify a few things. WATCH: FTX founder retakes stand

Persons: Sam Bankman, Michael M, Danielle Sassoon, Sassoon, Bankman, Philip Davis, Fried, he'd, Ryan Salame, Matias J, Mark Cohen, Cohen, Vox, hadn't, wasn't, Jane Rosenberg, —, Dawn Giel, retakes Organizations: Santiago, Getty, Alameda Research, U.S, Bahamian, Heat, Ocner, Miami Herald, Tribune, Service, Reuters, Washington , D.C Locations: Manhattan, New York City, Bahamas, FTX, Miami, Miami , Florida, U.S, Alameda, Bankman, Washington ,

☆ Why Sam Bankman-Fried wanted to spend $10 million a year to put FTX name on sports stadium
▼ + stars: | 2023-10-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +12 min

Prosecutors entered corroborating materials, including encrypted Signal messages and other internal documents that appear to show Bankman-Fried orchestrating the spending of FTX customer money. Similarly, Bankman-Fried testified that he believed the lavish Bahamas properties were being paid for with FTX operating cash that came from revenue and venture investments. As for the venture investments, Bankman-Fried said he thought that money was coming from Alameda's operating profits and third-party lending desks. Alameda's venture arm was renamed Clifton Bay Investments, which Bankman-Fried said was a first step in building a dedicated venture brand. When asked about loans he took from the business, Bankman-Fried said they were to pay for venture investments and political donations.

Persons: Sam Bankman, Amanda Perobelli, Fried, District Judge Lewis Kaplan, Mark Cohen, Bankman, Cohen, Sam Bankman Fried, Judge Lewis Kaplan, Elizabeth Williams, Caroline Ellison, Judge Kaplan, Jane, Banks, weren't, cryptocurrencies, FTX, Nishad Singh, Gary Wang, Singh, Wang, Prosecutors, Dan Friedberg, Fenwick, Marco Bello, Ryan Salame, Salame, Katy Perry, —, Dawn Giel Organizations: FTX, Reuters FTX, U.S, District, Stanford, Alameda Research, Elizabeth Williams Prosecutors, Massachusetts Institute of Technology, Alameda, Fenwick & West, Reuters, NFL's New, NFL's New Orleans Saints, Kansas City Chiefs, Facebook, Google, Clifton Bay Investments, Republicans Locations: Manhattan, New York City, U.S, Alameda, Bahamas, Berkeley , California, FTX, Friedberg, Miami , Florida, Miami, NFL's New Orleans, Clifton Bay, Los Angeles

☆ Sam Bankman-Fried, FTX allies secretly poured $50 million into 'dark money' groups, evidence shows
▼ + stars: | 2023-10-20 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

The documents give the first full look at Bankman-Fried and his allies' contributions to so-called "dark money" organizations. While Bankman-Fried quietly funded more conservative dark money groups behind the scenes, he publicly cultivated a profile that was clearly aligned with the Democratic Party. Prosecutors on Monday filed into evidence a list of organizations that received money from Bankman-Fried and those close to him. The documents show that Bankman-Fried was clearly the lead "dark money" donor among the listed former FTX executives and the company itself. The list that prosecutors made public this week shows Bankman-Fried's "dark money" donations were closer to $47 million during the 2022 cycle alone.

Persons: Sam Bankman, Mitch McConnell, Chuck Schumer, Nishad Singh, FTX's, Fried, Barbara Fried, FTX, Ryan Salame, Salame, Caroline Ellison, Ellison Organizations: FTX, Democratic, Republican, Democratic Party, Washington , D.C, Prosecutors, Alameda Research, Bankman, Federal, Commission Locations: Manhattan, New York City, Ky, Washington ,, Bankman, Alameda, Washington

☆ Read the transcript of text between FTX executives
▼ + stars: | 2023-10-19 | by ( ) www.nytimes.com time to read: +1 min

GOVERNMENT EXHIBIT SB CE SB CE SB CE SB 406 22 Cr. banks Caroline Ellison maybe 1b from crypto exchanges? lbkr 1.5 btc 0.3 exch 1 modulo 0.3 gbtc 0.3 hood? banks total 2:44 AM 1.5 0.3 1 0.3 0.3 0.3 0.2 Caroline Ellison seems ballpark reasonable 3:06 AM cust assets? difference Send a message 11/7/2022 3:04 AM 1.5 0.3 1 0.3 0.3 0.3 0.2 3.9 2:44 AM 12 8.1 2:34 AM 3:08 AM 2:47 AM Q 2:48 AM < +

Persons: Caroline Ellison, Sam Bankman, Joe Bankman, Ramnik Arora, Zach Dexter, Ryne Miller, Constance, Ryan Salame, Nishad Singh, Gary Wang Sam Bankman Organizations: BTC Locations: HOOD, treasuries

☆ Read the transcript of FTX executives text exchanges
▼ + stars: | 2023-10-19 | by ( ) www.nytimes.com time to read: 1 min

GOVERNMENT EXHIBIT 408 22 Cr. 673 (LAK) RS SB small group chat Caroline Ellison, Sam Bankman-Fried, Joe Bankman, Ramnik Arora, Zach Dexter, Ryne Miller, C, Can Sun, Constance, Ryan Salame, Nishad Singh, V, Gary Wang Ryan Salame Lol https://twitter.com/moonoverlord/st atus/1589606333468512256?s=46&t =zkVNq2BjTdOmr_t-pfPxpQ I could also retweet 5:24 AM Sam Bankman-Fried I'm tempted to give the emoji there but worry that it won't count if I make it too obvious idk maybe that's more subtle 5:24 AM for now I retweeted 11/7/2022 5:25 AM can also comment if we want 5:25 AM Send a message 5:22 AM Q 5:24 AM 9 +

Persons: Caroline Ellison, Sam Bankman, Joe Bankman, Ramnik Arora, Zach Dexter, Ryne Miller, Constance, Ryan Salame, Nishad Singh, Gary Wang Ryan, Lol, Fried I'm

☆ Read the secret Signal messages that could help put Sam Bankman-Fried behind bars
▼ + stars: | 2023-10-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +16 min

Sam Bankman-Fried appears at federal court in New York on Oct. 4, 2023, in this courtroom sketch. Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried. In a direct appeal to Bankman-Fried, Singh wrote on Nov. 6, 2022, "one thing that'd seriously help me is if I didn't have debts." Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried. Zoom In Icon Arrows pointing outwards Prosecutors are relying heavily on text messages sent among FTX and Alameda Research executives in the case against Sam Bankman-Fried.

Persons: Sam Bankman, Fried, Claudia Johnson, Caroline Ellison, Gary Wang, Nishad Singh, Ryan Salame, Damian Williams, Yuki Iwamura, Ellison, Bankman, Joe Bankman, Ramnik Arora, Ryne Miller, Constance Wang, Singh, Wang, reassurances, FTX, Changpeng Zhao, he'd, Um, Sam, Binance, Zhao, it's, Sam Trabucco, Ben Xie, Michael Lewis, Lewis, Adam Yedidia, Yedidia, chares, SDNY Singh, Gabe, Salame, Michael Sadowsky, Sadowsky, FTX's, Dawn Giel Organizations: Alameda Research, Stanford, Bloomberg, Getty, Massachusetts Institute of Technology, alameda, Prime Trust Bank Locations: New York, Alameda, Manhattan, U.S, FTX, Sequoia, Alameda's, Bahamas

☆ 'I'd been suicidal for days': Sam Bankman-Fried lieutenant testifies about immense pressure to keep FTX crypto scam going — before it all crashed
▼ + stars: | 2023-10-17 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +13 min

He testified at the Sam Bankman-Fried trial that he was 'suicidal' over the crypto scam. AdvertisementAdvertisement"I've always been intimidated by Sam," Singh testified Monday. Before the September 2022 realization that Alameda was taking FTX customer money, Singh had participated in fraudulent activity in other ways. When he returned, the FTX CEO told Singh that he believed he could get $5 billion more in investments, Singh testified. As the chaos continued to roil FTX, Bankman-Fried, Ellison, and other executives pointed fingers at each other while employees and customers demanded answers, Singh said.

Persons: Nishad Singh, Sam Bankman, —, Singh, Gary Wang, Caroline Ellison, Wang, Fried, unsurprised, Ellison —, Ellison, FTX wouldn't, he'd, Gabe Bankman, Adam Yedidia, Singh —, Ryan Salame —, Singh's, Sam, FTX, Mary Altaffer, Anthony Scaramucci, Seth Wenig, Salame —, funneling, Coindesk, FTX —, Binance, Jane Rosenberg Bankman, Bankman, I'd, roil Organizations: Service, Alameda Research, Bankman, Alameda, AP, Democratic, Prosecutors, REUTERS Locations: Alameda, FTX, Bahamas, Manhattan, New York, Bankman

☆ 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

☆ Caroline Ellison says she wasn't an ambitious person until she met Sam Bankman-Fried
▼ + stars: | 2023-10-12 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Caroline Ellison, former chief executive officer of Alameda Research LLC, arrives to court in New York, US, on Thursday, Oct. 12, 2023. Ellison, ex-girlfriend of FTX co-founder Sam Bankman-Fried, outlined for a New York jury Wednesday how she worked with Sam Bankman-Fried to deceive lenders and customers to build his multi-billion dollar cryptocurrency empire, and their failed attempts to prevent a spectacular collapse. She pleaded guilty in December to two counts of wire fraud, two counts of conspiracy to commit wire fraud, conspiracy to commit commodities fraud, conspiracy to commit securities fraud and conspiracy to commit money laundering. By 2021, she testified, Bankman-Fried had largely stopped coming into the Alameda office and had left more of the job to Ellison. Ellison also testified that Bankman-Fried had discussed adding a new co-CEO when Trabucco left, but she resisted.

Persons: Caroline Ellison, Ellison, FTX, Sam Bankman, Stephanie Keith, Mark Cohen, Lewis Kaplan, Cohen, Sam Trabucco, Alameda's, Trabucco, Fried, Ryan Salame, Ellison's Organizations: Alameda Research, New, Bloomberg, Getty, FTX Locations: New York, Manhattan, Alameda

Ellison, the former CEO of his cryptocurrency hedge fund, said SBF believed money could win him political power. He thought "you could get very high returns for relatively small amounts of money," Ellison testified. AdvertisementAdvertisementCaroline Ellison testified in court Tuesday that her former partner Sam Bankman-Fried believed he could win himself influence by donating "small" amounts of money to politicians. Ellison said that the money donated to Biden was a small amount of money for Bankman-Fried. "He thought it was very effective, that you could get very high returns for relatively small amounts of money," she said.

Persons: Caroline Ellison, Sam Bankman, Ellison, SBF, —, Fried, Biden, he's, Ryan Salame, Salame, Ryan Organizations: Service, Prosecutors, Alameda Research, Biden, Commission, Fund, Republican, Federal Elections Commission, PAC, Congress, Bankman Locations: Bankman, FTX, Manhattan, Alameda

☆ Inside Sam Bankman-Fried's $35 million crypto frat house in the Bahamas
▼ + stars: | 2023-10-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +11 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. 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. Lawyers for the U.S. Attorney's office entered into evidence photos featuring Sam Bankman-Fried and his fellow co-workers at their shared $35 million Bahamian penthouse. In his testimony, Yedidia recalled a group Signal thread labeled "People of the House," which referred to Bankman-Fried's $35 million penthouse. Zoom In Icon Arrows pointing outwards Exhibit from the prosecution shows Signal thread called "People of the House," referring to Bankman-Fried's $35 million penthouse, where many employees lived.

Persons: Sam Bankman, Fried, Gary Wang, Adam Yedidia, Caroline Ellison, She's, somethings, Lewis Kaplan, Yedidia, it's, Ryan Salame, Joseph Bankman, Barbara Fried, Bankman, John Ray, Ray, Tiger Woods, Justin Timberlake, Michael Lewis, Lewis, napping, Mark Cohen, FTX, Ellison, hadn't Organizations: U.S, Southern, of, Lawyers, Alameda Research, Massachusetts Institute of Technology, MIT, SDNY, Bankman, Alameda, New Providence, FTX, Enron, Capitol, Prosecutors Locations: Bahamas, Manhattan, He's, of New York, Bankman, FTX, Alameda, Hong Kong, Caribbean, New Providence, New, U.S, Albany, oceanside

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins today. Here's everything you need to know.
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court today. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

Persons: Sam Bankman, SBF, —, FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda

☆ What to Know About Sam Bankman-Fried’s Fraud Trial
▼ + stars: | 2023-10-03 | by ( David Yaffe-Bellany | More About David Yaffe-Bellany | ) www.nytimes.com time to read: +2 min

Mr. Bankman-Fried oversaw two core businesses: FTX and a hedge fund called Alameda Research. Alameda was, at least in theory, simply a large customer of FTX that used the platform to trade digital currencies. But according to prosecutors, Mr. Bankman-Fried allowed Alameda to borrow a virtually limitless amount from FTX and then funneled much of that money into other projects. For example, regulators say, Alameda used customer funds to make large loans to FTX executives, who spent the money on political donations. Mr. Bankman-Fried faces an uphill battle in court.

Persons: Fried, FTX, —, Caroline Ellison, Nishad Singh, Gary Wang —, Ryan Salame, Lewis A, Kaplan, Judge Kaplan Organizations: Alameda Research, Alameda Locations: FTX, United States, Alameda, Fried, Brooklyn

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins this week. Here's everything you need to know.
▼ + stars: | 2023-10-02 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court on Tuesday. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. The trial of Bankman-Fried, the founder of the failed cryptocurrency brokerage FTX, will begin Tuesday with jury selection. Political Cartoons View All 1190 ImagesThe 31-year-old Bankman-Fried founded FTX in 2019, and it grew rapidly. Bankman-Fried is expected come face-to-face with his former lieutenants at FTX for the first time since its collapse. She has previously said in a statement through her lawyers that she knew funneling FTX customers' money into Alameda was wrong.

Persons: Sam Bankman, Fried, Bernie Madoff, ”, Michael Zweiback, Zweiback, Zalduendo, FTX, SBF ”, J.P, Morgan, Tiger Woods, Justin Timberlake, Bankman, John Ray III, Caroline Ellison, Gary Wang, Ryan Salame, Salame, Ellison, funneling, Christine Adams, Adams, Andrew Ross Sorkin, Judge Lewis A, Kaplan, Changpeng Zhao, Larry Neumeister Organizations: Southern, of, Republicans, “ Prosecutors, Zalduendo LLP, Stanford University, Alameda Research, Alameda, Enron, FTX, Bankman, Prosecutors, The New York Times, NFTs, Securities and Exchange Commission, Binance, SEC Locations: Morgan, of New York, Washington, cryptocurrencies, Silicon Valley, FTX, The Bahamas, Albany, Alameda, Bahamas, New York, Palo Alto , California

☆ Sam Bankman-Fried took 21 private jet trips to and from Washington, and chartered Cessnas to transport Amazon packages to FTX HQ, sources say
▼ + stars: | 2023-09-30 | by ( Pete Syme | ) www.businessinsider.com time to read: +5 min

FTX spent $15 million on flights and plane upgrades with a charter airline, a court filing said. Bankman-Fried made 21 trips to or from Washington, DC, on a Learjet 60, a person with direct knowledge told Insider. AdvertisementAdvertisementSam Bankman-Fried and FTX frequently chartered private jets from a Bahamian company called Trans Island Airways (TIA), three people familiar with the matter told Insider. They added that each trip cost between $20,000 and $30,000, which means the Learjet flights alone could cost more than $1 million. AdvertisementAdvertisementProsecutors allege that Bankman-Fried orchestrated a scheme that involved funneling $100 million of FTX funds through executives to politicians .

Persons: FTX, Fried, —, Sam Bankman, Joe Bankman, Jerome Powell, Martin, Ryan Salame, Bankman, Michael Lewis, Lewis, Sam, Ryan, Sam's Organizations: Service, Trans Island Airways, TIA, Amazon, Bombardier Global, Embraer ERJ, Trans, Airways, Prosecutors, Capitol, Yorker, New York Times, Federal, Learjet, Bankman, TIA's, Cessna, Fort, Fort Lauderdale Executive Airport, Twitter Locations: Washington, DC, Florida, Bahamas, Caribbean, New York, Chicago, Fort Lauderdale

☆ Sam Bankman-Fried's mom encouraged him to skirt donation rules and give millions to the PAC she chaired, lawsuit claims
▼ + stars: | 2023-09-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX lawyers are suing Sam Bankman-Fried's parents, saying they were wrongly paid millions. The lawsuit says SBF's mom encouraged him to avoid federal campaign finance disclosure rules. Lawyers handling the crypto exchange's bankruptcy case are suing Bankman-Fried's parents, Joe Bankman and Barbara Fried, accusing them of siphoning millions of dollars from company funds. The lawsuit also accuses Fried of encouraging her son to "avoid (if not violate) federal campaign finance disclosure rules." Singh and Salame have pleaded guilty to campaign finance violations.

Persons: Sam Bankman, Bankman, Joe Bankman, Barbara Fried, Fried, —, Nishad Singh, Ryan Salame, Singh, Salame, Caroline, Sean Hecker, Michael Tremonte, Tremonte Organizations: Service, Lawyers, Democratic, Bankman, Forbes Locations: Wall, Silicon, Bahamas, Delaware

FTX entered bankruptcy in November when the global exchange ran out of money after the equivalent of a bank run. Several other former FTX executives have pleaded guilty to fraud and conspiracy charges and are cooperating with investigators. The scheme involved Bankman-Fried receiving a loan from Alameda, then transferring the money to his parents. According to FEC records, Singh contributed roughly $9.7 million in 2022 and in late 2020 to various candidates and committees. The judge revoked Bankman-Fried’s bail last month after finding probable cause that he had tampered with witnesses.

Persons: Sam Bankman, ”, Allan Joseph Bankman, Barbara Fried, FTX, Fried, Bankman, ’, “ Bankman, John Ray III, Joe, Barbara, Ray, “ Fried, Nishad Singh, ” Singh, Singh, Ryan Salame Organizations: —, FTX, Stanford University, Alameda Research, Stanford, FTX Group, Bankman, FEC, FTX Digital Markets Locations: Del, Bahamas, Delaware, Manhattan, Alameda, FTX

☆ CNBC Daily Open: Markets can’t catch a break from rate fears
▼ + stars: | 2023-09-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The donations were meant 'to weed out anti crypto dems for pro crypto dems and anti crypto repubs for pro crypto repubs," Salame said in a private message, according to a court document. It's the first time a Chinese president has missed the summit, a sign of how geopolitics have shifted. But Leon Cooperman, the chair and CEO of the Omega Family Office, told CNBC he doesn't think markets will hit a new high for a long time.

Persons: Goldman Sachs, David Solomon, CNBC's David Faber, Instacart, Goldman, Solomon, FTX's Salame, Ryan Salame, Salame, Joe Biden, Xi Jinping, Vladimir Putin, Leon Cooperman Organizations: CNBC, Nasdaq, ifo Institute, Alameda Research, Omega Locations: Germany, Alameda, India

☆ Insider Today: Analyzing Google salaries
▼ + stars: | 2023-09-08 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

In today's big story, we're taking a deeper look at the leaked Google salary data by looking at pay ranges across various factors. The sheet detailed 2022 base salaries, equity, and bonuses from over 12,000 Google employees in the US. Google employees who identified as being of Black/African descent had a median base salary at least $23,000 below their Asian, White, and Middle Eastern/North African colleagues. The gap didn't improve among software engineers, as those of Black/African descent had a median base salary $24,500 lower than those of white or European descent. Google employees who identified as being of Black/African descent had a median base salary at least $23,000 below their Asian, White, and Middle Eastern/North African colleagues.

Persons: We've, Tayfun, Rosalie Chan, Hugh Langley, Madison Hoff, Rosalie, Hugh, Madison, Shaw, Ned Davis, Ryan Salame, Salame, Sam Bankman, Tim Cook, Stephen Lam, Sam Altman, Investor Ford Smith, biohacking, Melissa Phillippi, missteps, Goldman Sachs, Sasha Kelemen, Olivia Rodrigo's, Ralph Lauren, —, Joe Jonas, she'd, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Anadolu Agency, Getty, Google, Google's New, Citadel, Ned Davis Research, Wall, Zen, Apple, Reuters Apple, European Commission, Investor, Leerink Partners, York, Kroger Locations: Wall, Silicon, Madison, Google's New York, Bay, Brooklyn, Manhattan , New York City, USA, China, New York City, San Diego, London, New York

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer FTX exec Ryan Salame to forfeit $1.5 billion after guilty plea: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bakkt CEO Gavin Michael discusses the company's international expansion, latest earnings and more.

Persons: Ryan Salame, explainers, Gavin Michael Organizations: CNBC Crypto, CNBC

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