DIRS.INFO The most relevant business & tech news

☆ Will Caroline Ellison get jail time for her role in the $11 billion FTX fraud scheme? Here's what the judge must weigh.
▼ + stars: | 2024-09-24 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

Read previewOn Tuesday, a judge will decide what sentence to give Caroline Ellison, who pleaded guilty to conspiring with Sam Bankman-Fried in an $11 billion fraud scheme. Ellison's sentencing sets up a high-stakes balancing test. She still participated in a massive fraud scheme, after all, the value of which he put at $11 billion. Ellison was the SBF trial's star witnessEllison pleaded guilty to fraud and money laundering for her role in the FTX scandal. Because the Bankman-Fried case went to trial, Kaplan has a lot of information at his disposal when deciding Ellison's sentence.

Persons: —, Caroline Ellison, Sam Bankman, Lewis Kaplan, Bankman, Fried, Ellison, Kaplan, FTX, cooperators, Sarah Krissoff, Cozen O'Connor, Joshua Naftalis, That's, Naftalis, Fried JANE ROSENBERG, John J, Ray III, Ryan Salame, Salame's, Gary Wang, Nishad Singh, Ellison's, Krissoff Organizations: Service, Business, Alameda Research, LLP, Prosecutors, Fried JANE ROSENBERG Prosecutors, Securities Exchange Commission, Commodity Futures Trading Commission, Government, MIT, Bankman Locations: Bankman, Manhattan, Alameda, New York, Brooklyn

☆ Judge predicts the public won't be as mean to Caroline Ellison now that she's been sentenced
▼ + stars: | 2024-09-24 | by ( Natalie Musumeci | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Though the judge spoke favorably about Ellison, he said that he could not let her off scot-free. "Her physical appearance has been the subject of internet fascination and scrutiny," her lawyer, Anjan Sahni, told the judge at the Tuesday sentencing hearing. Advertisement"She had a crush on him from the beginning," Sahni told the judge in the sentencing hearing. Related stories"I found myself drifting away," Ellison told the judge in her own remarks Tuesday. "Numerous films and TV shows are in production about the downfall of FTX, which will only perpetuate the public scrutiny Ellison has faced to date," prosecutors wrote in a filing ahead of the sentencing hearing.

Persons: —, Caroline Ellison —, Sam Bankman, Lewis Kaplan, Ellison, she's, Kaplan, Bankman, scot, FTX, Anjan Sahni, Fried, New York Times —, Jane Street, Sahni Organizations: Service, Bankman, Business, Alameda Research, New York Times, Prosecutors Locations: Manhattan, Bankman

☆ Mansion to misery: A glimpse inside the prison Sean ‘Diddy’ Combs now calls home
▼ + stars: | 2024-09-19 | by ( Artemis Moshtaghian | ) edition.cnn.com time to read: +5 min

CNN —Described as “disgusting” with “horrifying” conditions, the detention center music mogul Sean “Diddy” Combs now calls home is a far cry from the Miami and Los Angeles mansions he once lived in. A federal judge denied Combs bail Wednesday saying the bail proposal set forth by his defense attorneys was “insufficient” in addressing the court’s concerns. This after the Federal Bureau of Prisons shuttered its Manhattan complex shortly after multimillionaire financier and accused sex trafficker Jeffrey Epstein died by suicide in 2019. A month later, inmate Edwin Cordero died in a fight that broke out inside the prison. The incident prompted a Justice Department investigation assessing whether the Bureau of Prisons had “adequate contingency plans” to address inmate living conditions.

Persons: Sean “ Diddy ” Combs, he’s, ” Michael Cohen, Donald Trump, Cohen, R, Kelly, “, “ Pharma Bro ” Martin Shkreli, Ghislaine Maxwell, Sam Bankman, Ismael “ El, Ismael “ El Mayo ” Zambada Garcia, Combs, Judge Andrew Carter, Jeffrey Epstein, Emery Nelson, ” Nelson, ” Combs, Marc Agnifilo, “ He’s, ” Cohen, Combs ’, Uriel Whyte, Edwin Cordero Organizations: CNN, Miami, Metropolitan Detention Center, “ Pharma, Wap, Ismael “ El Mayo ”, Federal Bureau of Prisons, MDC, of Prisons, Urgent, MDC Brooklyn, Housing Unit, Prisons, New York Times, Department Locations: Los Angeles, “, New York, Brooklyn, Manhattan, New York City, M.D.C . Brooklyn

☆ Sean 'Diddy' Combs shouldn't expect special treatment at a notorious Brooklyn jail that's like 'hell on earth'
▼ + stars: | 2024-09-18 | by ( Natalie Musumeci | ) www.businessinsider.com time to read: +5 min

A former warden at the facility told Business Insider that Combs can expect to be treated like any of the other 1,200 inmates at the Brooklyn jail. Advertisement"Any time one is being detained at the Metropolitan Detention Center, it's never going to be a picnic," Cameron Lindsay, the retired warden, told BI. Sean "Diddy" Combs is currently being housed at an infamous Brooklyn jail. "Given his status as a celebrity and a rap star, I would believe, of course, that he would be single-celled and isolated under very austere conditions," Cameron Lindsay told BI. Numerous Courts in this district have raised concerns with the horrific conditions of detention there," Combs' lawyers wrote.

Persons: —, Sean, Diddy, Combs, Kelly, Sam Bankman, Ghislaine Maxwell —, it's, Cameron Lindsay, Mark Bederow, Lucas Jackson, Bederow, Robyn Tarnofsky, Lindsay Organizations: Service, Federal Bureau of Prisons, Metropolitan Detention, Business, MDC Locations: Los Angeles, Miami, Brooklyn, Manhattan, Beverly Hills

☆ Sean 'Diddy' Combs charged with racketeering, sex trafficking
▼ + stars: | 2024-09-17 | by ( ) www.cnbc.com time to read: +3 min

Sean "Diddy" Combs attends the REVOLT X AT&T 3-Day Summit In Los Angeles - Day 1 at Magic Box on October 25, 2019 in Los Angeles, California. Sean "Diddy" Combs has been indicted on criminal charges for what U.S. prosecutors called the music mogul's years-long orchestration of a sex trafficking and racketeering conspiracy. Combs, a rapper and producer who was a major figure in hip-hop in the 1990s and 2000s, faces three criminal charges including: racketeering conspiracy; sex trafficking by force, fraud or coercion; and transportation to engage in prostitution. According to the 14-page indictment, Combs turned his business empire into a criminal enterprise in which he and associates engaged in sex trafficking, forced labor and other crimes. Kelly was sentenced to a combined 31 years in prison after being convicted in New York in 2021 and Chicago in 2022 on charges including sex trafficking, racketeering and child sex crimes.

Persons: Sean, Diddy, Combs, Marc Agnifilo, Prosecutors, Kelly, Mary J, Blige, Faith Evans, Usher, Casandra Ventura, Cassie, Agnifilo Organizations: U.S, Miami Locations: Los Angeles, Los Angeles , California, Manhattan, New York, Chicago, Miami Beach , Florida

☆ Judge considers revoking guilty plea of FTX executive Ryan Salame, accusing him of lying under oath
▼ + stars: | 2024-09-12 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

US District Judge Lewis Kaplan scheduled the hearing after Ryan Salame, a former executive of Alameda Research and FTX Digital Markets, tried to withdraw his guilty plea. Salame said prosecutors broke a promise to him by later indicting his romantic partner, Michelle Bond — a claim that prosecutors vigorously disputed. Instead, Kaplan grilled Salame under oath for over 30 minutes in his Manhattan courtroom Thursday morning, accusing him of misrepresenting the plea negotiations. That left Kaplan in a bind: Either Salame lied in his plea hearing, throwing the plea into doubt. Bond would not be pursued if I plead guilty," Salame said.

Persons: —, who's, Lewis Kaplan, Ryan Salame, Salame, Michelle Bond, Kaplan, Sam Bankman, Salame didn't, Bond, FTX, Mary Altaffer, wasn't, Danielle Sassoon, Christopher Bartolomucci, he'll, Salame's Organizations: Service, Alameda Research, FTX, Markets, Business, Prosecutors, AP, US, Office, Southern, of Locations: Manhattan, Alameda, of New York

☆ ABC News steps into the spotlight with high stakes Trump-Harris debate
▼ + stars: | 2024-09-10 | by ( Hadas Gold | ) edition.cnn.com time to read: +8 min

New York CNN —As Vice President Kamala Harris and former President Donald Trump take the stage Tuesday night in Philadelphia in their first face-to-face meeting, the spotlight will also shine on the host of the debate: ABC News. And Trump’s campaign had already accepted the debate rules as sent out by ABC News’ general counsel. But ABC executives remained confident both candidates would show up, and ultimately, the Harris campaign relented. In the days ahead of the debate, Trump has attacked the network, questioning its impartiality. Both Muir and Davis are experienced primary debate moderators, but neither has moderated a presidential debate between the Democratic and Republican candidates.

Persons: Kamala Harris, Donald Trump, David Muir, Linsey Davis, Harris, Trump, Joe Biden, Harris ’, “, Almin Karamehmedovic, Kim Godwin, ” Trump, Fox News ’ Sean Hannity, Dana Walden, Walden, George Stephanopoulos, ”, Jean Carroll, Carroll, Rachel Scott, incisively, Scott “, Muir, Davis, Rick Klein, “ We’re, CNN’s MJ Lee, Kristen Holmes Organizations: New, New York CNN, ABC, ABC News, Democratic, Disney, CNN, Trump, National Constitution, Fox News, Disney Entertainment, National Association of Black Journalists, Republican, The New York Times Locations: New York, Philadelphia, It’s, Manhattan

☆ Trump's lawyers say an accuser's sexual-assault testimony should have been tossed because the incident was aboard an airplane
▼ + stars: | 2024-09-06 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

Leeds' allegations weren't part of Carroll's accusations, but the trial judge allowed her testimony because they demonstrated what Carroll's lawyers argued was a pattern of behavior by Trump. "It's very hard to overturn a jury verdict for evidentiary grounds," he said. Sauer argued that Trump's case was "a textbook example" of a case wrongly propped up by propensity evidence rather than Trump's actual conduct. LEONARDO MUNOZ/AFP via Getty ImagesShe also jabbed at Habba's earlier claims that she might have some kind of conflict of interest with the trial judge, US District Judge Lewis Kaplan. Presidential immunity played a role in earlier court fights in the Carroll case.

Persons: —, Donald Trump, Jean Carroll, John Sauer, Jessica Leeds, Trump, Sauer, Denny Chin, Roberta Kaplan, Leeds, defaming Carroll, Alina Habba, Kaplan, Carroll, Todd Blanche, Emil Bove, Boris Epshteyn, Joshua Katz, CHARLY TRIBALLEAU, Getty Images Carroll, Bergdorf Goodman, Blanche, Bove —, Harvey Weinstein's, Susan Carney mused, Marci Hamilton, LEONARDO MUNOZ, Lewis Kaplan, Kamala Harris, Bove, Juan Merchan, she'd Organizations: Service, Republican, Business, Leeds, Circuit, Trump, Getty Images, US, University of Pennsylvania, Getty, Democratic Locations: Manhattan, Leeds, AFP, New York, Washington, DC, New, United States

☆ Trump will mimic Harvey Weinstein's successful appeal to fight his own sexual-assault verdict Friday. It won't be as easy.
▼ + stars: | 2024-09-05 | by ( Laura Italiano | Jacob Shamsian | ) www.businessinsider.com time to read: +10 min

The judge who oversaw the trial later said: "Trump 'raped' her as many people commonly understand the word 'rape.'" AdvertisementBut the lawyers who won Weinstein's appeal told Business Insider that what worked for their client probably wouldn't work for Trump. In the May 2023 verdict, the jury found Trump liable for sexual abuse and defamation and awarded Carroll $5 million in damages. In the second trial, earlier this year, a separate jury said Trump owed Carroll an additional $83 million in defamation damages. AdvertisementInstead, it needed to find it was "more probable than not" that Trump sexually assaulted Carroll, a standard far more common in civil cases.

Persons: —, Donald Trump, Trump, Jean Carroll, Harvey Weinstein, John Sauer, he'll, Carroll, Sauer, It's, Weinstein, Barry Kamins, Kamins, Marci Hamilton, Goodman, Lewis Kaplan, Jessica Leeds, Natasha Stoynoff, Brittainy Newman, Diane Kiesel, Stoynoff, you've, Kaplan, Roberta Kaplan, Roberta Kaplan's, Jane Rosenberg Trump's, Arthur Aidala, shouldn't Organizations: Service, Business, Appeals, 2nd, Mar, New York state's, Trump, Hollywood, Child USA, New, Leeds, York state's, Stoynoff, New York Law School, REUTERS Locations: Manhattan, Lago, New York, Los Angeles, Brooklyn, Aidala, York, Leeds, Bergdorf's, Carroll, Carroll's, Hamilton

☆ U.S. targets Russia over 2024 election influence operation
▼ + stars: | 2024-09-04 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

The DOJ said it was seizing 32 Internet domains "used in Russian government-directed foreign malign influence campaigns colloquially referred to as 'Doppelganger,' in violation of U.S. money laundering and criminal trademark laws." Those alleged efforts include the use of RT, the English-language media network backed by Russia, to influence U.S. opinion. The Biden administration on Wednesday announced sanctions targeting Russian government-backed efforts to manipulate American opinion leading up to the 2024 election. An unidentified Russia Today anchor prepares to go on the air in the RT TV studio in Moscow, June 8, 2018. Investigations later found that there was a coordinated effort by Russia to support his candidacy over the then-Democratic nominee, Hillary Clinton.

Persons: General Merrick Garland, Kostiantyn Kalashnikov, Elena Afanasyeva, Biden, Vladimir Putin, Merrick Garland, Margarite Simonova Simonyan, Elizaveta Yuryevna, Anton Sergeyvich Anisimov, Antony Blinken, Rossiya, Blinken, Joe Biden, Kamala Harris, Harris, Donald Trump, Trump, Hillary Clinton, RT's, RT, Clinton Organizations: Justice Department, DOJ, Department of Justice, Wednesday, RT, U.S, U.S . Treasury Department, State Department, RIA Novosti, Novosti, Sputnik, U.S . Foreign, NBC News, Democratic, Republican, White House, Investigations, NBC Locations: Washington , DC, Tennessee, Manhattan, American, Russia, Moscow, Ukraine, U.S, Russian

☆ Ex-FTX exec's girlfriend accused of using his money to illegally fuel her political career
▼ + stars: | 2024-08-22 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

According to an indictment unsealed Thursday, Bond had a fake consulting agreement with FTX, the notorious cryptocurrency exchange run by Sam Bankman-Fried. The $400,000 she received — along with gobs of more stolen money from FTX — fueled her congressional campaign, prosecutors say. The charges against Bond come one day after she finalized a divorce with her previous partner, according to Salame. In total, Salame and FTX gave Bond over $900,000, according to the indictment — far above the legal limits. AdvertisementAccording to prosecutors, Salame even once asked a friend to donate to Bond's campaign, who joked about Salame reimbursing them.

Persons: —, Michelle Bond, Bond, Sam Bankman, Ryan Salame, Salame, Gary Wang, Nishad Singh, Caroline Ellison —, Wang, Singh, Ellison, Prosecutors, FTX, that's, Salame didn't, Lewis Kaplan, Danielle Sassoon, Bond —, Sassoon, Judge Kaplan, He's Organizations: Service, FTX, Business, Federal Elections Commission, US, Republican, Digital, Alameda Research, Justice Department Locations: Manhattan, Bahamas, New York's, Long, Bankman, Salame

☆ This biographer exchanged emails with Bernie Madoff from prison for a decade. Here’s what he learned
▼ + stars: | 2024-07-28 | by ( Annie Nova | ) www.cnbc.com time to read: +10 min

Richard Behar Courtesy: Lizzie CohenYou probably haven't heard Bernie Madoff's name in awhile, but that doesn't mean the infamous fraudster's story is over, or the pain he inflicted. Irving Picard, an 83-old court-appointed trustee, still spends his days trying to claw back money from the those who benefitted from Madoff's Ponzi scheme, and to reduce the staggering losses of others. 'Prison was a great relief for him'AN: How did Madoff say life in prison changed him? In prison, he'd typically wake up in his cell at around 4 a.m., make coffee in bed with an instant hot water machine, then read, or listen to NPR until breakfast. RB: Bernie said he was under constant stress over the Ponzi, and would talk out loud to himself sometimes in the office, because of the pressure.

Persons: Richard Behar, Lizzie Cohen, Bernie Madoff's, Irving Picard, Madoff, Elie Wiesel, Ruth, he's, Behar, Richard Behar's, Mark, MADOFF, BERNARD L, he'd, Annie Nova, I've, I'm, scammers, —, Bernard Madoff, Stephen Chernin, I'd, Bernie, Chris Hondros, wasn't, Picard, John Moscow, Irving, Picard isn't, It's Organizations: CNBC, Behar's, Forbes, Manhattan Federal, Getty, NPR, SEC, Manhattan Locations: North Carolina, New York City

☆ Judge allows Trump lawsuit against ABC and George Stephanopoulos
▼ + stars: | 2024-07-24 | by ( Marshall Cohen | ) edition.cnn.com time to read: +3 min

Washington CNN —A federal judge on Wednesday refused to dismiss former President Donald Trump’s lawsuit against ABC News and George Stephanopoulos over the anchor’s assertion that a jury concluded Trump had “raped” E. Jean Carroll. Trump filed the lawsuit in Florida federal court earlier this year, arguing that Stephanopoulos and the network defamed him when Stephanopoulos said during a contentious on-air interview with Rep. Nancy Mace that a jury found Trump had “raped” Carroll, a writer whose own cases against Trump led to him being found liable for sexual abuse. ABC News did not immediately respond to a CNN request for comment. In the Trump-ABC lawsuit, US District Judge Cecilia Altonaga, an appointee of former President George W. Bush, wrote Wednesday that these definitions were different enough to let the case move forced. His analysis necessarily focused on what Carroll had and had not proved at trial, as well as the harm Carroll experienced from (Trump’s) abuse.

Persons: Donald Trump’s, George Stephanopoulos, Trump, ”, Jean Carroll, Stephanopoulos, Nancy Mace, ” Carroll, Carroll, Trump’s countersuit, Lewis Kaplan, ’, Cecilia Altonaga, George W, Bush, “, ” Altonaga, “ Judge Kaplan, Mace, —, ” Altonaga ‘, Kaplan, ” Trump, Altonaga’s, CNN’s Oliver Darcy Organizations: Washington CNN, ABC News, Trump, ABC, CNN, New York Penal, WIN, “ ABC Locations: Florida, Manhattan, Carroll, New York, York

☆ Sen. Bob Menendez will resign seat Aug. 20 after bribery conviction
▼ + stars: | 2024-07-23 | by ( Dan Mangan | ) www.cnbc.com time to read: 1 min

Senator Robert Menendez (D-NJ), arrives at Federal Court, for his bribery trial in connection with an alleged corrupt relationship with three New Jersey businessmen, in New York City, U.S., May 21, 2024Sen. Bob Menendez, the New Jersey Democrat convicted last week in a federal bribery case, will resign his Senate seat effective Aug. 20, NBC News reports. Menendez said last Wednesday that that he would quit the Senate as a result of his criminal conviction, but he had not given a date. New Jersey Gov. Phil Murphy, who is also a Democrat, will appoint a senator to fill out the brief remainder of Mendendez's term. Menendez was found guilty of all 16 criminal counts on July 17 in Manhattan federal court in a case where he was accused of accepting bribes, which included cash and gold bars, in exchange for taking actions that benefited the governments of Egypt and Qatar.

Persons: Robert Menendez, Sen, Bob Menendez, Menendez, Phil Murphy Organizations: Federal Court, New, New Jersey Democrat, NBC, Senate, New Jersey Gov Locations: Jersey, New York City, U.S, New Jersey, Manhattan, Egypt, Qatar

☆ Elon Musk's X is fighting a subpoena in a lawsuit between Jeffrey Epstein accusers, further delaying an already drawn-out case
▼ + stars: | 2024-07-18 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Read previewElon Musk's X Corp. is gumming up a case between two Jeffrey Epstein accusers by spending months stonewalling subpoenas. But X Corp. has refused. "X Corp. will not be producing any data in response to your subpoena," reads one letter sent by an X lawyer earlier this year. Related storiesLawyers for Oh Amen agreed to provide them, but Oh Amen had been suspended from one of her accounts and couldn't download data from the second account. Thomas told Business Insider it's crucial to see Oh Amen's X records to contextualize all of the defamation claims.

Persons: —, Elon, Jeffrey Epstein, Rina Oh, Epstein, Elon Musk's, Virginia Giuffre, Rina Oh Amen, Ghislaine Maxwell —, Maxwell, Giuffre, Donald Trump's Mar, Amen, Oh Amen, Giuffre countersued, Amen's, Alexander Dudelson, didn't, Amen —, Dudelson, Virginia Roberts Giuffre, Rina Oh Kathleen R, Thomas, she's, X, that's Organizations: Service, X Corp, Twitter, Elon, Business, X Locations: Virginia, Lago, Florida, Manhattan, Giuffre

U.S. Sen. Bob Menendez (D-NJ) speaks to the media as he exits Manhattan federal court on July 16, 2024 in New York City. WASHINGTON — Sen. Bob Menendez, D-N.J., has told allies that he will resign from Congress after being convicted on federal corruption charges, two people directly familiar with those conversations tell NBC News. Among those who urged him to resign were Senate Majority Leader Chuck Schumer, D-N.Y.; Senate Majority Whip Dick Durbin, D-Ill.; and Menendez's friend and fellow New Jersey Democratic senator, Cory Booker. He had two stints as chairman of the Senate Foreign Relations Committee, a post he relinquished last year after his indictment. Menendez "provided sensitive U.S. Government information and took other steps that secretly aided the Government of Egypt," the indictment alleged.

Persons: Sen, Bob Menendez, New York City . WASHINGTON — Sen, Menendez, Chuck Schumer, Dick Durbin, Cory Booker, Schumer, Phil Murphy, Andy Kim, Curtis Bashaw, Nadine, Weeks, he'd, retry Menendez Organizations: NBC, New, New Jersey Democratic, Senate, New Jersey Gov, Democratic, Senate Foreign Relations, Government, of, Prosecutors, Office Locations: Manhattan, New York City . WASHINGTON, New Jersey, Jersey, Union City, of Egypt, Florida

☆ Archegos founder Bill Hwang found guilty in multibillion-dollar fraud trial
▼ + stars: | 2024-07-10 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +1 min

CNN —Bill Hwang, founder of Archegos Capital Management, was found guilty of fraud Wednesday by a Manhattan federal court after the 2021 collapse of his investment firm wiped billions of dollars off financial markets and nearly brought down Wall Street. The jury delivered a speedy conviction, finding Hwang guilty on 10 of 11 criminal counts after beginning deliberations Tuesday afternoon. Archegos’ implosion cost shareholders $100 billion and banks $10 billion, the prosecutors argued. In a statement, the US Attorney’s office for the Southern District of New York said Hwang’s guilty verdict sends a message that market manipulation would be held accountable. “Hwang and Halligan were able to fraudulently inflate a $1.5 billion portfolio into a $36 billion portfolio,” the statement said.

Persons: Bill Hwang, Hwang, Hwang’s, Patrick Halligan, “ Hwang, Halligan, ” Hwang Organizations: CNN, Archegos Capital Management, Warner Bros, Southern, of Locations: of New York

☆ Ashley Biden diary thief arrested in Georgia on weed, other charges day before jail surrender date
▼ + stars: | 2024-07-10 | by ( Dan Mangan | ) www.cnbc.com time to read: +2 min

Aimee Harris, right, walks out of Manhattan federal court, Tuesday, April 9, 2024, in New York. A Florida woman was arrested Monday in Georgia on motor vehicle, marijuana, and other state charges just one day before her scheduled voluntary surrender to begin a month-long jail term for stealing and selling the diary of President Joe Biden's daughter Ashley Biden, prosecutors revealed in a New York federal court filing. Harris, 42, was sentenced in April to one month in jail and three months of home detention. She had been scheduled to surrender on Tuesday at noon to begin serving her jail sentence. "The defendant is currently in state custody in connection with those charges."

Persons: Aimee Harris, Joe Biden's, Ashley Biden, Harris, Ashley Biden's, Laura Taylor Swain, Swain Organizations: U.S, Marshals, U.S . Bureau, Prisons, Attorney's, Sunday Locations: Manhattan, New York, Florida, Georgia, Palm Beach, U.S, McIntosh County , Georgia, Carolina

☆ Archegos founder Bill Hwang convicted at criminal trial over fund's collapse
▼ + stars: | 2024-07-10 | by ( ) www.cnbc.com time to read: +4 min

Sung Kook (Bill) Hwang, the founder and head of the private investment firm Archegos, arrives at the Manhattan Federal Courthouse in New York City, U.S., July 9, 2024. The jury, which began deliberations on Tuesday, found Hwang guilty on 10 of 11 criminal counts and Patrick Halligan, his Archegos deputy and co-defendant, guilty on all three counts he faced. Hwang and Halligan sat flanked by their lawyers as the verdict was read by a soft-spoken foreperson. Hwang, 60, had pleaded not guilty to one count of racketeering conspiracy, three counts of fraud and seven counts of market manipulation. At its peak, prosecutors said Archegos had $36 billion in assets and $160 billion of exposure to equities.

Persons: Sung Kook, Bill, Hwang, Patrick Halligan, Halligan, Prosecutors, Andrew Thomas, Barry Berke, William Tomita, Scott Becker, Archegos Organizations: Archegos Capital Management, Prosecutors, U.S . Justice Department, U.S, Attorney's, Southern, of, Credit Suisse, UBS, Nomura Holdings Locations: Manhattan, New York City, U.S, of New York

☆ Menendez Defense Rests Without Senator Testifying
▼ + stars: | 2024-07-03 | by ( Benjamin Weiser | Tracey Tully | ) www.nytimes.com time to read: 1 min

After calling just four witnesses, lawyers for Senator Robert Menendez of New Jersey rested their case late Wednesday afternoon in Manhattan federal court, setting the stage for jurors to begin deliberations in his international bribery conspiracy trial early next week. Mr. Menendez, 70, said that he decided against testifying in his own defense for two primary reasons. The government, he said, had not proved its case, and he did not want to give prosecutors an opportunity to rehash the charges twice — once on cross-examination and again in closing arguments. That was “simply not something that makes any sense to me whatsoever,” Mr. Menendez said as he left the courthouse after proceedings ended for the day.

Persons: Robert Menendez, Menendez, —, ” Mr Organizations: Robert Menendez of New Locations: Robert Menendez of, Robert Menendez of New Jersey, Manhattan

☆ US judge’s financial conflict leads to revived lawsuit against big banks
▼ + stars: | 2024-07-02 | by ( ) edition.cnn.com time to read: +2 min

A US appeals court threw out the dismissal of an antitrust lawsuit accusing 10 large banks of overcharging investors on corporate bonds, saying the trial judge should have been recused because his wife owned stock in one of the banks. Liman, an appointee of former President Donald Trump, was assigned the lawsuit in April 2020 and dismissed it with prejudice in October 2021, three months after his wife sold $15,000 of Bank of America stock. The banks said Liman’s failure to uncover his conflict didn’t require recusal or reviving the case. But the appeals court found a “legitimate risk” that similar violations could undermine public confidence in the judicial process. US Supreme Court Chief Justice John Roberts highlighted in his 2021 annual report on the judiciary a need for judges to be vigilant about financial conflicts.

Persons: Judge Lewis Liman “, ”, Liman, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells, Donald Trump, Valerie Caproni, John Roberts, George Zelcs, Judge Caproni Organizations: US, Bank of America, Street Journal, Barclays, Citigroup, Credit Suisse, Deutsche Bank, JPMorgan, NatWest, ” Bank of America Locations: Manhattan, overcharging

☆ Former Honduran president sentenced to 45 years in prison on drug trafficking charges
▼ + stars: | 2024-06-26 | by ( Jack Guy | ) edition.cnn.com time to read: +2 min

CNN —Former Honduran President Juan Orlando Hernandez has been sentenced to 45 years in prison and given an $8 million fine by a US judge for drug trafficking offenses. He has previously denied the charges against him and at his sentencing on Wednesday insisted that he is innocent and was “wrongly and unjustly accused.”In March, a jury in New York found Hernandez guilty on three drug trafficking charges after a two-week trial in Manhattan federal court. He was extradited from Honduras after the US Department of Justice filed three drug-trafficking and firearms related charges against him in 2022. In exchange, prosecutors said, Hernández received millions of dollars in bribes that he used to fuel his rise in Honduran politics. Hernández was president of Honduras from 2014 until 2022.

Persons: Juan Orlando Hernandez, ”, Hernandez, Prosecutors, Hernández, extraditions, “, ” Prosecutors, General Merrick Garland, Hernández “ Organizations: CNN — Former Honduran, US Department of Justice, Justice Department, ”, Honduran National Police Locations: New York, Manhattan, Honduras, United States

☆ Trump erases Biden's huge cash advantage with fundraising surge after conviction
▼ + stars: | 2024-06-21 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

Read previewDonations to the Trump campaign poured in after the former president's felony conviction last month. Meanwhile, the Biden campaign and the Democratic National Committee brought in $85 million for the month, the campaign said. Related storiesOn those two days, the Trump campaign raked in six times as many large donations as on an average day, Politico reported. At the end of May, Trump's campaign had $116.6 million on hand, while Biden's had $91.6 million, FEC filings show. In May, Biden's campaign spent $30 million, more than four times as much as Trump's, FEC filings show.

Persons: —, Trump, Joe Biden, Stormy Daniels, Biden, Biden's, Trump's, Joe, President Trump, Steven Cheung, isn't, Julie Chavez Rodriguez, Harris, we're Organizations: Service, Republican National Committee, New York Times, Biden, Democratic National Committee, Business, Trump, Politico, Times, RNC Locations: Manhattan

☆ From $40 billion fraud to $4.5 billion settlement: Inside the latest crypto firm paying big bucks to end legal trouble
▼ + stars: | 2024-06-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +14 min

This week, a judge signed off on Do Kwon and his bankrupt Terraform Labs settling with the U.S. Securities and Exchange Commission for $4.5 billion. This comes after a jury unanimously found Kwon and his company liable for securities fraud following less than two hours of deliberation. But investors piled in anyway, giving luna and UST a combined market value of almost $40 billion at one point. Terraform and Kwon fought our efforts to investigate – taking a fight over investigative subpoenas all the way to the Supreme Court. They are Caroline Ellison, the Alameda Research CEO who at one time dated Bankman-Fried; FTX engineering chief Nishad Singh; and Gary Wang, the co-founder and chief technology officer of FTX.

Persons: Kwon, Woohae Cho, Sam Bankman, Changpeng Zhao, Luna, atoning, Alex Mashinsky, Wall, Stevo Vasiljevic, Reuters Kwon, He's, Satoshi Nakamoto, Elon Musk, Mike Novogratz, Gary Gensler, –, Fried, Fatih Aktas, Lewis Kaplan, Kaplan, Bankman, convicting, Prosecutors, Ryan Salame, Caroline Ellison, Nishad Singh, Gary Wang, FTX, Jason Redmond, Zhao, Richard Jones, …, Binance, Justin Sullivan Organizations: Terraform Labs, Bloomberg, Getty, U.S, Forbes, Arrows Capital, Voyager, U.S . Securities, Exchange Commission, Labs, U.S . Justice Department, Futures Trading Commission, Treasury Department, bitcoin, BlackRock, Fidelity, Reuters, terraUSD, UST, Traders, Twitter, SEC, Supreme, Anadolu Agency, Alameda Research, ., Republicans, Bankman, AFP, of Prisons, District, Bank, DOJ, CFTC, Treasury, Binance, New, Commercial Bank Locations: U.S, Balkans, Podgorica, Montenegro, Singapore, Dubai, Serbia, Balkan, South Korea, United States, lockstep, New York, Manhattan, Seattle, Lompoc , California, Binance

☆ Hunter Biden was always doomed to lose his trial. His best bet is appealing a 'vindictive prosecution.'
▼ + stars: | 2024-06-11 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Related VideoIn his opening statement at the trial, Biden's lawyer Abbe Lowell urged jurors in the Wilmington, Delaware, federal court to acquit his client. "They know how to put on a tight gun case." Biden's trial was not necessarily a lost cause. Hunter Biden's lawyers have argued this arrangement has perversely allowed Weiss to politicize the proceedings unchecked. This story was updated following the jury verdict in Hunter Biden's gun trial.

Persons: —, Hunter Biden, Biden, Abbe Lowell, Prosecutors, Sarah Krissoff, didn't, Maryellen Noreika, Donald Trump, Lowell, Jared Kushner, Sen, Robert Menendez, John Edwards —, Joe Biden, ROBERTO SCHMIDT, David Weiss, General Merrick Garland, Weiss, Hunter Biden's, Noreika, Trump, Republicans gloated, Hallie Biden, Cozen O'Connor, Duncan Levin, Levin, He's, Krissoff, Evelyn Hockstein, Neama Rahmani, Rahmani Organizations: Service, Business, Alcohol, Tobacco, Firearms, Explosives, AFP, Getty, Trump, Justice, Republicans, Biden's, US, BI, Republican, U.S, U.S . Department of Justice, Hill, REUTERS, Justice Department, West, Creative Locations: Wilmington , Delaware, Manhattan, Delaware, California, New York, Texas

Search resuls for: "Manhattan Federal"

25 mentions found