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☆ 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."

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

☆ Some government jobs are offering big bonuses, higher pay and parental leave to lure applicants
▼ + stars: | 2023-09-30 | by ( Haley Tenore | ) www.businessinsider.com time to read: +3 min

Sign-on bonuses, higher pay, and paid family leave are on offer with some government jobs. Listings offer an average of 20% higher pay compared to last year, The Wall Street Journal reported. Many are offering higher pay, sign-on bonuses, and paid family leave, The Wall Street Journal reported. Oklahoma is poised to pay out teachers bonuses of between $15,000 and $50,000 to about 530 recently recruited teachers, according to NPR affiliate KOSU. For some, paid family leave can help maintain that balance, and government employers seem to be taking note.

Persons: —, KPIX, Katie Hobbs Organizations: Street Journal, Service, FRED Economic, US Bureau of Labor Statistics, Customs, Alameda Police Department, NPR Locations: Polk County , Florida, Tampa, California's Bay, Oklahoma, Arizona

☆ Sam Bankman-Fried talked crypto with Jerome Powell the same month that the Fed chair met with JPMorgan and Goldman Sachs CEOs
▼ + stars: | 2023-09-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried met with Jerome Powell last year to discuss crypto, per the NYT. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementJerome Powell, the chair of the Federal Reserve, once met with Sam Bankman-Fried to discuss crypto, The New York Times reported. Prior to the meeting, Wetjen sent the Fed chair some policy papers that FTX had recently published, according to the NYT. The FDIC and a spokesperson for Bankman-Fried did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Sam Bankman, Fried, Jerome Powell, SBF, Martin Gruenberg, —, Mark Wetjen, Wetjen, FTX, Powell, stablecoins, cryptocurrencies, Goldman Sachs, David Solomon, Jamie Dimon, Morgan Stanley, James Gorman, Lael Brainard Organizations: Wall Street, Service, Federal Reserve, The New York Times, Commodity Futures Trading Commission, JPMorgan Chase, Times, Fed, National Economic Council, Federal Deposit Insurance Corporation, FDIC, Customers Locations: Alameda

☆ Bankman-Fried may face 'very long sentence' if convicted, judge says
▼ + stars: | 2023-09-28 | 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, Sept 28 (Reuters) - Sam Bankman-Fried, the indicted founder of now-bankrupt cryptocurrency exchange FTX, may face a "very long sentence" if convicted at his fraud trial starting next week, the judge overseeing the case said on Thursday. Kaplan said Bankman-Fried was a flight risk. "Your client in the event of conviction could be looking at a very long sentence," Kaplan said in a hearing in Manhattan federal court. Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy stemming from FTX's collapse in November 2022. Prosecutors say Bankman-Fried stole billions of dollars in FTX customer deposits to plug losses at Alameda Research, a crypto-focused hedge fund he controlled.

Persons: Sam Bankman, Eduardo Munoz, District Judge Lewis Kaplan's, Kaplan, Bankman, Fried, Mark Cohen, FTX, Danielle Kudla, Palo, Caroline Ellison's, Ellison, Gary Wang, Nishad Singh, Luc Cohen, Nick Zieminski Organizations: REUTERS, U.S, District, Metropolitan Detention, Prosecutors, Alameda Research, Alameda, New York Times, Thomson Locations: New York, U.S, Manhattan, Bahamas, United States, Brooklyn, Palo Alto , California

☆ Who is Caroline Ellison, a key witness set to testify against Sam Bankman-Fried?
▼ + stars: | 2023-09-28 | 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

Now, a year after Alameda collapsed, Ellison is preparing to testify as a key witness at the Oct. 3 criminal fraud trial against its founder, another budding young philanthropist who also owned the now-bankrupt FTX cryptocurrency exchange: Sam Bankman-Fried. She told the FTX podcast she decided to join Bankman-Fried at Alameda despite lacking experience with cryptocurrencies to "maximize my impact." ELLISON MAY TESTIFY ABOUT ENCRYPTED MESSAGESProsecutors may ask Ellison about whether Bankman-Fried directed employees to use encrypted messaging platforms and ensure their messages automatically deleted. She has told prosecutors that Bankman-Fried said it is hard to build a case if information is not written down or preserved, court records show. Days before FTX declared bankruptcy, Ellison told Bankman-Fried her "increasing dread of this day" had been weighing on her for a long time, according to prosecutors.

Persons: Sam Bankman, Eduardo Munoz, Caroline Ellison, Ellison, Bankman, Alameda's, Sam, ELLISON, Jane Street, Harry Potter, Fried, Jane, FTX, Kaplan, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: REUTERS, Stanford, Alameda Research, Alameda, Prosecutors, Massachusetts Institute of Technology, New York Times, Thomson Locations: New York, U.S, Alameda, Bahamas, Manhattan, Boston, Fried, FTX

☆ Who is Sam Bankman-Fried, the onetime crypto mogul set to testify in his own defense?
▼ + stars: | 2023-09-27 | 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: +6 min

NEW YORK, Oct 26 (Reuters) - A few years after graduating from college, Sam Bankman-Fried grew worried he was not taking enough risks. Two years after launching a hedge fund, Alameda Research, Bankman-Fried founded FTX, an exchange that let users buy and sell digital assets such as bitcoin. Based in the Bahamas, Bankman-Fried became known for his mop of unkempt curly hair and for wearing rumpled shorts, even when entertaining dignitaries like Bill Clinton. They contend the theft came to a head in 2022, when crypto prices swooned and he used FTX funds to plug losses at Alameda. Defense lawyers have argued that their cooperation agreements with prosecutors encourage them to implicate Bankman-Fried in the hopes of receiving lenient sentences.

Persons: Sam Bankman, Fried, Bill Clinton, Tom Brady, Larry David, FTX, Caroline Ellison, Alameda's, Forbes, Bankman, Jane Street, Gary Wang, Ellison, Nishad Singh, Wang, Singh, District Judge Lewis Kaplan, FTX's, influencer, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: Stanford Law School, Alameda Research, Forbes, Democratic, NFL, Alameda, Massachusetts Institute of Technology, Bankman, Prison, MIT, Jane, U.S, District, New York Times, Times, Thomson Locations: Bahamas, Manhattan, Alameda, United States, Asia, New York

☆ Sam Bankman-Fried's mom says prosecutors and bankruptcy estate are 'McCarthyite' and on a 'relentless pursuit of total destruction'
▼ + stars: | 2023-09-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Barbara Fried said the prosecutors and FTX Debtors were on a "relentless pursuit of total destruction." AdvertisementAdvertisementSam Bankman-Fried's mom hit out at prosecutors and the FTX Debtors ahead of the crypto-exchange founder's trial next Tuesday, The New Yorker reported. In an email to the publication, Barbara Fried described the prosecutors and bankruptcy estate as "McCarthyite" and on a "relentless pursuit of total destruction." AdvertisementAdvertisementThe FTX Debtors filed a lawsuit against Bankman-Fried's parents last Monday, accusing them of siphoning millions of dollars from the crypto exchange. The FTX Debtors and Fried's attorney did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Sam Bankman, Barbara Fried, —, Joe Bankman, FTX, Fried, Sam, Joe doesn't Organizations: Service, Yorker, Bankman, PAC, New Locations: Bahamas, New Yorker, Alameda

☆ Angus Cloud's mother reveals his last words to her and final days
▼ + stars: | 2023-09-26 | by ( Lisa Respers France | ) edition.cnn.com time to read: +2 min

CNN —Angus Cloud’s final words to his mother were filled with love. You’re the best,” Lisa Cloud, the late actor’s mother, told People magazine her son said to her on the night he died. Cloud died in July of an accidental overdose. Despite attempting to resuscitate her son, Lisa Cloud said she was unable to get him to respond. “It started to slow his heart and slow his breathing,” Lisa Cloud explained to People.

Persons: Angus Cloud’s, “, Lisa Cloud, Cloud, Conor ”, ”, ” Cloud, Sam Levinson, I’ve, ‘, we’ve, Daniel Aguilera, ” Aguilera, Conor Organizations: CNN, People, Cloud Locations: Northern California, Alameda County

☆ Sam Bankman-Fried's trial to test dueling explanations for FTX’s collapse
▼ + stars: | 2023-09-26 | 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: +6 min

He plastered FTX's logo on a basketball arena in Miami and on MLB baseball umpires' uniforms. Prosecutors say Bankman-Fried directed Wang to change FTX's computer code to allow Alameda to borrow unlimited sums of money, a privilege other exchange users lacked. Bankman-Fried's defense lawyers have indicated in court papers that they plan to challenge the credibility of all three witnesses. "The question is, when did Bankman-Fried know that there wouldn't be enough money?" Reporting by Luc Cohen in New York; Editing by Amy Stevens and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Fried, Jane Street, FTX, Damian Williams, Forbes, Bankman, It's, Mark Kasten, Buchanan Ingersoll, Rooney, Caroline Ellison, Gary Wang, Nishad Singh, Wang, Singh, Ellison, District Judge Lewis Kaplan, Paul Tuchmann, Wiggin, Dana, Luc Cohen, Amy Stevens, Daniel Wallis Organizations: REUTERS, U.S, Wall, Alameda Research, MLB, Prosecutors, Attorney, Bankman, Alameda, District, New York Times, Thomson Locations: New York, U.S, Manhattan, Miami, Alameda, Bahamas

☆ Some Alameda Research staff realised FTX had gone down when they tried to order takeout on a company card and it was declined, ex-employee says
▼ + stars: | 2023-09-25 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Alameda Research staff tried to order takeout whilst waiting for news about FTX on November 9, 2022. "We ordered our lunch in the afternoon, same as usual," Baradwaj told The Post about what happened on the day. AdvertisementAdvertisementAccording to Baradwaj's account, Ellison apologized to staff, told them of plans to wind the company down, and told them "this really sucks." FTX, Alameda Research, and 130 other affiliated companies filed for Chapter 11 bankruptcy two days later on November 11. The companies' collapse revealed that its cofounder and CEO Sam Bankman-Fried had secretly funneled FTX's customer funds to prop up Alameda Research.

Persons: Aditya Baradwaj, takeout, Baradwaj, Caroline Ellison, Ellison, Sam Bankman, Fried, Caroline, I'm Organizations: Alameda Research, FTX, Service, New York Post Locations: Alameda, FTX, Wall, Silicon, Hong Kong

Circuit Court of Appeals in Manhattan. In her writings, she described feeling "unhappy and overwhelmed" with her job and "hurt/rejected" from a breakup with Bankman-Fried. A lawyer for Bankman-Fried told the appeals court on Sept. 19 that Kaplan failed to credit the defendant for exercising his First Amendment constitutional right to speak with the press and try to restore his reputation. The appeals court appeared skeptical. Bankman-Fried faces seven charges of fraud and conspiracy stemming from the collapse of FTX, the now-bankrupt crypto exchange he founded.

Persons: Sam Bankman, Eduardo Munoz, District Judge Lewis Kaplan, Caroline Ellison, Ellison, Fried, Kaplan, Danielle Sassoon, William Nardini, Luc Cohen Organizations: REUTERS, U.S, Circuit, District, Alameda Research, New York Times, Bankman, Metropolitan Detention, Prosecutors, Alameda, Thomson Locations: New York, U.S, Manhattan . U.S, Alameda, Palo Alto , California, FTX

REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. judge on Thursday restricted Sam Bankman-Fried's ability to call expert witnesses to testify at his criminal fraud trial, in a blow to the FTX cryptocurrency exchange founder. But in a written order, U.S. District Judge Lewis Kaplan said three proposed witnesses cannot take the stand, because their testimony was irrelevant or could confuse the jury. He also said Bankman-Fried may seek to call the remaining four experts, but only to rebut prosecution witnesses. Among the witnesses Kaplan rejected was Peter Vinella, a consultant who intended to testify about "FTX's use of widely-accepted practices in the financial services industry." It is common in U.S. criminal trials for prosecutors and defendants to call experts to help jurors understand complex issues.

Persons: Sam Bankman, Fried, Amr Alfiky, District Judge Lewis Kaplan, Kaplan, Peter Vinella, Lawrence Akka, Luc Cohen, Daniel Wallis Organizations: United, REUTERS, Alameda Research, District, Prosecutors, Alameda, Thomson Locations: New York City, U.S, Alameda, Bankman, New York

OAKLAND, Calif. (AP) — Actor Angus Cloud died in July of an accidental overdose of cocaine, fentanyl and other substances, a Northern California coroner's office said Thursday. Cloud's cause of death was “acute intoxication" due to the “combined effects of methamphetamine, cocaine, fentanyl and benzodiazepines,” the Alameda County Coroner's Bureau said. Cloud starred as the drug dealer Fezco “Fez” O’Neill on the HBO series “Euphoria." In a statement at the time, his family said Cloud had been struggling with the death of his father. Political Cartoons View All 1171 Images“The only comfort we have is knowing Angus is now reunited with his dad, who was his best friend.

Persons: Angus Cloud, Cloud, Fezco, ” O’Neill, Angus Organizations: OAKLAND, Alameda County Coroner's, HBO Locations: Calif, Northern California, Alameda County, Oakland

☆ Sam Bankman-Fried's dad emailed his son that he didn't know 'what to say' after finding he'd be paid $200,000 instead of $1 million by FTX — then looped in SBF's mom, lawsuit claims
▼ + stars: | 2023-09-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried's dad was not happy about his $200,000 salary at now-bankrupt crypto firm FTX, a lawsuit claims. In emails cited in the lawsuit, Joseph Bankman said he believed he would be paid $1 million by FTX. He then looped in Barbara Fried, his partner and Bankman-Fried's mom. Bankman and Fried enjoyed the benefits of more than $90,000 in expenses, paid for by FTX Trading, for their Bahamas residence." FTX group and Bankman-Fried's trading firm Alameda Research filed for bankruptcy in November 2022 with the founder stepping down from his role as CEO.

Persons: Sam Bankman, Joseph Bankman, Barbara Fried, FTX, Bankman, Fried, Gee, Sam, Barbara, Sean Heckler, Michael Tremonte, Joe Organizations: FTX, Service, Alameda Ltd, Stanford University, Alameda Research Locations: Wall, Silicon, FTX, Alameda, Bahamas

☆ Stanford University says it will return the 'entirety' of millions of dollars in gifts it received from bankrupt crypto firm FTX
▼ + stars: | 2023-09-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Stanford University has said it plans to return millions of dollars in gifts it received from FTX. According to a lawsuit, the university received $5.5 million from the now-bankrupt crypto firm. Co-founder Sam Bankman-Fried's parents both held teaching roles at the prestigious California university. A spokesperson for Stanford University responded to the lawsuit in an emailed statement to Bloomberg: "Stanford received gifts from the FTX Foundation and FTX-related companies largely for pandemic-related prevention and research." AdvertisementAdvertisementInsider contacted Stanford University for comment but did not immediately hear back outside of regular working hours

Persons: Sam Bankman, — Allan Joseph Bankman, Barbara Fried, Bankman, Stanford, Fried Organizations: Stanford University, Service, Bloomberg News, CNN, Stanford, FTX Group, Bloomberg, FTX Foundation, FTX, Alameda Research Locations: FTX, California, Wall, Silicon, Bahamas, Brooklyn

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

☆ MLB roundup: Adam Wainwright beats Brewers for 200th win
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +9 min

Mandatory Credit: Jeff Curry-USA TODAY Sports Acquire Licensing RightsSeptember 19 - Adam Wainwright scattered four hits over seven innings and earned his 200th career victory as the St. Louis Cardinals edged the visiting Milwaukee Brewers 1-0 on Monday. Starter Freddy Peralta (12-9) allowed one run on four hits in six innings for the Brewers (84-66). Ty Blach (3-2) yielded seven runs in 3 2/3 innings. The Nationals dropped the opener of their final homestand of the season, giving them six defeats in the past seven games. Woo (4-4) started a major league game in Oakland for the first time, miles from where he starred at Alameda High School.

Persons: Adam Wainwright, Jeff Curry, Wainwright, Bob Gibson, Jesse Haines, John King, Ryan Helsley, Willson Contreras, Freddy Peralta, Zack Wheeler, Wheeler, Johan Rojas, Bryce Harper, Realmuto, Nick Castellanos, Kyle Schwarber, Kyle Wright, Cedric Mullins socked, Mullins, Ryan Pressly, Ryan O'Hearn, Austin Hays, O'Hearn, Jason Verlander, John Means, Garrett Cooper, Luis Campusano, Eguy Rosario, Brenton Doyle flied, Josh Hader, Michael Wacha, Ty Blach, Nolan Jones, Brendan Rodgers, Jones, Martinez, Miguel Rojas, Lance Lynn, Jake Rogers, Eduardo Rodriguez, Drew Waters, Trevor Stephan, Waters, Jackson Kowar, James McArthur, Andres Gimenez, Gabriel Arias, Connor Phillips, Phillips, Royce Lewis, Alex Kirilloff, Jeff McNeil slugged, Rob Refsnyder's, Rafael Devers, Bobby Dalbec, Luis Urias, Urias, Kutter Crawford, Josh Winckowski, Crawford, Marcus Semien, Will Smith, Mike Clevinger, Luis Robert Jr, Dominic Smith's, Joan Adon, Bryan Woo, Jose Caballero, Woo, JP Organizations: Louis Cardinals, Milwaukee Brewers, Busch, USA, Cardinals, Brewers, Phillies, Braves, Atlanta, Philadelphia, League, Orioles, Astros, Baltimore, Houston, Rangers, Mariners, American League West, AL East, Tampa Bay Rays, Padres, Rockies, Colorado, The Padres, The Rockies, Dodgers, Tigers, Detroit, National League West, Royals, Kansas City, Cleveland, De, Guardians, Reds, Twins, Cincinnati, Minnesota, Triple, The Twins, American League Central, Cleveland Guardians, Mets, Marlins, Miami, National League, Arizona Diamondbacks, Chicago Cubs, Cincinnati Reds, Red Sox, Texas, White Sox, Nationals, Chicago, Washington, Athletics, Seattle, Oakland, Alameda High School, JP Sears, Thomson Locations: Louis , Missouri, USA, Philadelphia, Arizona, Baltimore, Houston, Diego, Los Angeles, De Los Santos, Kansas, Louisville, New York, Boston, Arlington, Oakland

☆ FTX sues Sam Bankman-Fried's parents, aims to claw back some of the $26 million in gifts and property
▼ + stars: | 2023-09-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Barbara Fried, mother of Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, leaves the courthouse, after a U.S judge revoked Bankman-Fried's bail, New York, Aug. 11, 2023. Bankrupt crypto exchange FTX is looking to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from the parents of Sam Bankman-Fried, the exchange's disgraced ex-CEO and founder. The filing characterizes the correspondence as Bankman lobbying his son to "massively increase his own salary." Bankman-Fried himself independently faces multiple wire and securities fraud charges related to the alleged multibillion-dollar FTX fraud. Bankman and Fried "either knew — or ignored bright red flags revealing — that their son, Bankman-Fried, and other FTX Insiders were orchestrating a vast fraudulent scheme," the lawsuit said.

Persons: Barbara Fried, Sam Bankman, Allan Joseph Bankman, Fried, Sam's, Bankman, Gee, Sam, Barbara, Damian Williams, Joe, Ray Organizations: Bankruptcy, District of, FTX, Administration, Stanford University, Group, Stanford Law School, The U.S . Department of Justice, Bankman, CNBC Locations: New York, U.S, District of Delaware, Bahamas, Alameda, The, Manhattan, Bankman

☆ Sam Bankman-Fried's parents are accused of siphoning millions of dollars from FTX
▼ + stars: | 2023-09-19 | by ( Will Gendron | Associated Press | ) www.businessinsider.com time to read: +5 min

The fallout of FTX's implosion continues, with Sam Bankman-Fried's parents now facing a lawsuit. Barbara Fried and Allan Joseph Bankman were accused of siphoning millions of dollars from the firm. FTX entered bankruptcy in November when the global exchange ran out of money after the equivalent of a bank run. "And together, Bankman and Fried siphoned millions of dollars out of the FTX Group for their own personal benefit and their chosen pet causes." Mr. Ray and his massive team of lawyers, who are collectively running up countless millions of dollars in fees while returning relatively little to FTX clients, know better."

Persons: Sam Bankman, Barbara Fried, Allan Joseph Bankman, SBF's, FTX, Fried, Bankman, John Ray III, Joe, Barbara, Ray Organizations: Service, FTX, Stanford University, Alameda Research, Stanford, FTX Group, Bankman Locations: Wall, Silicon, Bahamas, Delaware, Manhattan, Alameda, FTX, Brooklyn

☆ Sam Bankman-Fried to argue for release from NY jail two weeks before trial
▼ + stars: | 2023-09-19 | 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: +2 min

This included his sharing the personal writings of Caroline Ellison, the former chief executive of his Alameda Research hedge fund, with a New York Times reporter. Ellison has pleaded guilty to fraud and is expected to testify against Bankman-Fried, a former romantic partner. Bankman-Fried faces seven charges of fraud and conspiracy stemming from the November 2022 collapse of his now-bankrupt company. Prosecutors countered in court papers that Bankman-Fried sought to use the Times as a "mouthpiece for discrediting a government witness shortly before trial." They also said Bankman-Fried has had no more difficulty preparing for trial than any other detainee.

Persons: Sam Bankman, District Judge Lewis Kaplan, Bankman, Caroline Ellison, Ellison, Fried, jailing, Kaplan, Luc Cohen, Will Dunham Organizations: Manhattan U.S, U.S, Circuit, District, Alameda Research, New York Times, Bankman, Prosecutors, Alameda, Thomson Locations: Brooklyn, Alameda, New York

NEW YORK (AP) — A federal appeals court in Manhattan seemed unreceptive Tuesday to arguments that FTX founder Sam Bankman-Fried should be released on bail before his trial starts in two weeks so he can better prepare for trial. “You can’t prepare for trial this way, your honor, you just can’t,” Cohen said. Circuit Judge Denny Chin asked if there was a First Amendment right “to influence or discredit a witness who may testify against you. The 2nd Circuit did not immediately rule. ___For more AP coverage of Sam Bankman-Fried: https://apnews.com/hub/sam-bankman-fried

Persons: Sam Bankman, Judge Lewis A, Kaplan, FTX, Caroline Ellison, Mark Cohen, ” Cohen, William J, Nardini, ” Nardini, Denny Chin, John M, Walker Jr, Fried, ” Organizations: —, U.S, Circuit, Alameda Research Locations: Manhattan, Palo Alto , California, United States, Bahamas, Washington

☆ FTX sues Sam Bankman-Fried’s parents
▼ + stars: | 2023-09-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Bankrupt crypto exchange FTX is suing founder Sam Bankman-Fried’s parents, accusing them of siphoning millions of dollars in company funds to enrich themselves and their “pet causes.”The lawsuit aims to recover funds that the company claims were “fraudulently transferred and misappropriated” by Bankman-Fried’s parents. FTX collapsed into bankruptcy in November last year as questions about its finances rattled crypto markets and prompted a sudden, massive drawdown of customer funds. Despite Bankman-Fried’s assertions that his parents weren’t involved in “any of the relevant parts” of FTX, the lawsuit claims that his parents played a role from the beginning. She described herself as her son’s “partner in crime of the noncriminal sort,” the lawsuit claims. In April, FTX told the bankruptcy court it had recovered $7.3 billion in assets.

Persons: Sam Bankman, “, Joe Bankman, Barbara Fried, Fried, Joe, Barbara, FTX, weren’t, Bankman, …, ” Fried, Fried’s, John J, Ray III, ”, Ray Organizations: New, New York CNN, Stanford, Southern, of, Bankman, FTX Group, Super Bowl, Alameda Research Locations: New York, of New York, Bahamas, FTX

☆ Padres pound A's in Bob Melvin's return to Oakland
▼ + stars: | 2023-09-16 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

[1/38] Sep 15, 2023; Oakland, California, USA; Oakland Athletics center fielder Lawrence Butler (22) and right fielder Seth Brown (15) pursue a home run by San Diego Padres right fielder Fernando Tatis Jr. during the first inning at Oakland-Alameda County Coliseum. After having spent 11 seasons as manager of the A's before taking the San Diego job last year, Melvin made his first return to Oakland a successful one, recording career win No. But leading 5-3, the San Diego bullpen threw three straight shutout innings to close out the game. San Diego also scored on a Luis Campusano RBI double in the fifth, while Oakland's only non-homer tally was the product of a Ryan Noda ground-rule double in the third. Seth Lugo (7-7) allowed all three Oakland runs in six innings.

Persons: Lawrence Butler, Seth Brown, Fernando Tatis Jr, Ross Cameron, Bob Melvin, Melvin, belting Sean Newcomb's, Tatis, Garrett Cooper, Matthew Batten, Shea Langeliers, Brent Rooker, Jose Azocar's, Diego, Luis Campusano, Ryan Noda, Seth Lugo, Newcomb, Batten, Xander Bogaerts, Juan Soto, Cooper, Esteury Ruiz Organizations: Oakland Athletics, San Diego Padres, Oakland, Alameda County Coliseum, San, Padres, Newcomb, San Diego bullpen, 142nd, National League, Thomson Locations: Oakland , California, USA, San Diego, Oakland, Diego's

☆ Angels' Ohtani ruled out for the season
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +1 min

Sep 3, 2023; Oakland, California, USA; Los Angeles Angels designated hitter Shohei Ohtani (17) and interpreter Ippei Mizuhara stand in the dugout before the game between the Los Angeles Angels and the Oakland Athletics at Oakland-Alameda County Coliseum. Mandatory Credit: Robert Edwards-USA TODAY Sports/File Photo Acquire Licensing RightsSept 16 (Reuters) - Los Angeles Angels two-way star Shohei Ohtani will not play again this season after suffering a side strain, the Major League Baseball (MLB) team said on Saturday. The three-time All-Star's pitching season was already over after he suffered torn elbow ligaments. The side injury occurred during batting practice on Sept. 4 and Japanese Ohtani has not played since. The American League MVP front-runner may have played his last game for the Angels as he is expected to become one of the most highly sought-after free agents in the off season.

Persons: Shohei Ohtani, Ippei, Robert Edwards, Shohei, Amy Tennery, Ed Osmond Organizations: Los Angeles Angels, Oakland Athletics, Oakland, Alameda County Coliseum, USA, Major League Baseball, American League, Angels, Thomson Locations: Oakland , California, USA, New York

☆ Sam Bankman-Fried said he was one of the 'most hated people in the world' in an unpublished Twitter thread written after he was arrested, report says
▼ + stars: | 2023-09-15 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Documents revealed by the New York Times shed light on Sam Bankman-Fried's mindset after his arrest. In a Twitter thread he never published, SBF called himself "one of the most hated people in the world." The documents also show Bankman-Fried blaming a lack of hedging by Caroline Ellison for Alameda's collapse. "I'm broke and wearing an ankle monitor and one of the most hated people in the world," Bankman-Fried wrote in an unpublished draft of a Twitter thread written after he was arrested late last year. The 250-pages of documents were shared with the New York Times by crypto influencer Tiffany Fong.

Persons: Sam Bankman, SBF, Caroline Ellison, Fried, I'm, Tiffany Fong, Katy Perry, Rihanna, Sam Trabucco, Trabucco, FTX, Ellison Organizations: New York Times, Service, Alameda Hedge Fund, Times, Alameda, Bankman Locations: Wall, Silicon, Alameda, Brooklyn

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