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☆ Preet Bharara On Why Closing Cases Is a Vital Part of Prosecution - The New York Times
▼ + stars: | 2023-11-12 | by ( Preet Bharara | ) www.nytimes.com time to read: +2 min

Common sense suggests that the next step would be to advise the persons under investigation that they are no longer targets. Prosecutors investigate crimes because people commit them, and those who break the law must be brought to justice. Maybe that means prosecutors are putting the final touches on an indictment. No news is good news, they’ll say, because silence at least means the indictment hasn’t been signed. And to pester the prosecutor about where you stand will achieve nothing other than irritating the person in whose hands your fate rests.

Persons: —, They’ve, hasn’t Organizations: Department of Justice, Southern, of Locations: United States, of New York

☆ Opinion: How judges can outmaneuver Trump’s delay tactics
▼ + stars: | 2023-11-12 | by ( Opinion Thomas G. Moukawsher | ) edition.cnn.com time to read: +7 min

Luckily, there are a few ways judges can stop his delay tactics, if they are willing to apply them. Cannon is the Florida federal judge presiding over the case examining whether Trump mishandled classified documents at his Florida home. In this way, if judges apply the usual court process, Trump can keep the cases marching in place for years — until after the 2024 election in particular. It used to be that you would appeal after you lost a case in the trial court. They have the tools in the Trump cases to rectify the problem.

Persons: Thomas G, CNN —, Aileen Cannon’s, Donald Trump, Thomas Moukawsher, Thomas Moukawsher It’s, Cannon, Trump, Trump hasn’t, ”, can’t, don’t, hasn’t, Tanya Chutkan Organizations: American Bar, CNN, Trump Locations: Connecticut, Florida, Washington, Georgia

☆ Peter Nygard trial verdict: Former fashion mogul found guilty on 4 counts of sexual assault
▼ + stars: | 2023-11-12 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

CNN —Former fashion mogul Peter Nygard was found guilty of four counts of sexual assault in a Toronto court on Sunday, following a six-week trial. The accusers were then “forcibly sexually assaulted, drugged, and/or coerced into sexual contact with Nygard,” according to the US indictment. Nygard consented to be extradited to the United States in 2021 but in 2023 he appealed against extradition, according to court documents reviewed by CBC. Nygard served as chairman of Winnipeg-based women’s clothing company Nygard International, which he founded in 1967. In March 2020, Nygard International filed for bankruptcy protection in Canada and the United States after the sex trafficking allegations.

Persons: Peter Nygard, Nygard, “, Ken Frydman, CNN’s Sheena Jones, Madeline Holcombe, Laura Ly, Sonia Moghe, Ray Sanchez Organizations: CNN, of, Prosecutors, CBC, Nygard International, Nygard Locations: Toronto, United States, Southern, of New York, Winnipeg, Canada

☆ Former top Baltimore prosecutor convicted of federal perjury charges
▼ + stars: | 2023-11-10 | by ( Steve Gorman | ) www.reuters.com time to read: +3 min

Nov 9 (Reuters) - Baltimore's former top prosecutor Marilyn Mosby was found guilty of perjury on Thursday for falsely claiming financial duress to withdraw funds from a retirement plan. A U.S. District Court jury in Greenbelt, Maryland, convicted Mosby, 42, on both federal perjury counts she faced after hours of deliberation. Mosby, a Democrat, lost her bid for a third term after she was indicted on federal charges in January 2022. Mosby's defense team argued in court that she did not lie in stating financial hardship because her private travel business took a hit during the pandemic. None of the six officers charged in his death was convicted.

Persons: Marilyn Mosby, Mosby, Freddie Gray, Prosecutors, Gray, Steve Gorman, Michael Perry Organizations: Maryland, Baltimore, Democrat, Maryland U.S, Attorney's, Prosecutors, Internal Revenue Service, Thomson Locations: U.S, Greenbelt , Maryland, Maryland, COVID, Florida, Los Angeles

☆ ‘Is This Hell?’ The Pilot Accused of Trying to Crash a Plane Tells His Story.
▼ + stars: | 2023-11-10 | by ( Mike Baker | More About Mike Baker | ) www.nytimes.com time to read: +1 min

Upon landing, police officers took Mr. Emerson, 44, into custody, and Multnomah County prosecutors charged him with 83 counts of attempted murder — one for every passenger and crew member he was accused of trying to kill. Separately, federal prosecutors accused him of interfering with a flight crew. Prosecutors did not discuss the case beyond the charging documents. Mr. Emerson, who has pleaded not guilty, said he had no intention of hurting anyone that day. It was a loss that had plunged him into deep grief and triggered a search for help with what he realized were longstanding mental health issues.

Persons: Emerson, ” Organizations: Prosecutors Locations: Portland, Multnomah County

ATLANTA (AP) — When rapper Young Thug goes to trial later this month on gang and racketeering charges, prosecutors will be allowed to use rap lyrics as evidence against him, a judge ruled Thursday. Young Thug, whose given name is Jeffery Lamar Williams, was indicted last year along with more than two dozen others. Young Thug has had enormous success as a rapper and has his own music label, Young Stoner Life. All of the defendants were accused of conspiring to violate the anti-racketeering law, and the indictment includes rap lyrics that prosecutors allege are overt acts “in furtherance of the conspiracy.”“The question is not rap lyrics. The question is gang lyrics,” prosecutor Mike Carlson told the judge during a hearing Wednesday, later adding.

Persons: Young Thug, Ural Glanville, Young, Jeffery Lamar Williams, Young Stoner, Childish Gambino, ”, Mike Carlson, ” Carlson, Simone Hylton, Doug Weinstein, Deamonte Kendrick, Yak Gotti, Weinstein, “ They're, “ Organizations: ATLANTA, Fulton County Superior, Prosecutors, Bloods, Defense Locations: Fulton County

Courthouse in Boston, Massachusetts, U.S., November 28, 2018. The U.S. government meanwhile seized the domains for two websites tied to the prostitution ring, authorities said. Defense lawyers for the trio either did not respond to requests for comment or could not be immediately identified. Customers were charged $350 to $600, depending on the services and included politicians, pharmaceutical and technology executives, doctors, military officers, professors, lawyers, business executives, scientists and accountants, prosecutors said. Reporting by Nate Raymond in Boston, Editing by Alexia Garamfalvi; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: John Jospeh Moakley, Katherine Taylor, Josh Levy, Han Lee, Junmyung Lee, James Lee, Levy, We're, Nate Raymond, Alexia Garamfalvi, David Gregorio Our Organizations: Courthouse, REUTERS, Rights BOSTON, U.S, Thomson Locations: John Jospeh Moakley U.S, Boston , Massachusetts, U.S, Boston, Virginia, Massachusetts, California, Massachusetts , Virginia, Cambridge, Watertown , Massachusetts, Fairfax, Tysons , Virginia

(AP) — A federal jury is expected to hear attorneys' closing arguments on Wednesday in the perjury trial of a former top prosecutor for the city of Baltimore. Marilyn Mosby, who served two terms as state's attorney for Baltimore, declined to testify before her attorneys rested their case on the third day of her trial. Mosby's attorneys said she legally obtained and spent the money. Mosby told the truth when she certified on paperwork that the pandemic devastated her business, said the defense attorney, Maggie Grace. U.S. District Judge Lydia Kay Griggsby agreed to move Mosby’s trial from Baltimore to Greenbelt, Maryland, a suburb of Washington, D.C.Mosby’s attorneys argued that she couldn’t get a fair trial in Baltimore after years of negative media coverage.

Persons: Marilyn Mosby, Prosecutors, Mosby, Freddie Gray, Mosby’s, Sean Delaney, Maggie Grace, “, Marilyn Mosby’s, ” Grace, Scott Bolden, Lydia Kay Griggsby, couldn’t, Lea Skene Organizations: —, Baltimore, Democratic, Prosecutors, Economic, Mahogany Elite Enterprises, U.S, Washington , D.C, Associated Press Locations: Md, Baltimore, Florida, Kissimmee , Florida, , Florida, Greenbelt , Maryland, Washington ,

Prosecutors contended Officer Nathan Woodyard's actions including the neck hold contributed to McClain's death. Here’s what you need to know about the criminal trials:WHY WERE THE OFFICERS AND PARAMEDICS CHARGED? Local prosecutors initially decided not to bring charges in McClain’s death largely because an initial autopsy didn’t determine exactly how he died. Defense attorneys for the officers repeatedly said it was the ketamine injection — not their clients — that caused McClain’s death. In Woodyard’s case, the defense brought in a paid expert witness who has also worked for the prosecution in the paramedic’s case.

Persons: —, Elijah McClain, George Floyd, Nathan Woodyard's, wasn't, Woodyard wasn't, McClain, Sheneen McClain, Jeremy Cooper, Peter Cichuniec, Jared Polis, Dr, Stephen Cina, McCLAIN, Woodyard, Randy Roedema, Joyce, McClain didn’t, Megan Downing, Roedema, Rosenblatt, Cooper, Cichuniec, Nadia Iovettz, Andrew Ho, “, ”, Ed Obayashi, ___ Brown Organizations: BRIGHTON, Prosecutors, Local, Democratic Locations: Colo, Denver, Aurora, Billings , Montana

☆ California Boat Captain Convicted of Manslaughter in Fire That Killed 34
▼ + stars: | 2023-11-07 | by ( Mike Ives | More About Mike Ives | ) www.nytimes.com time to read: +1 min

The captain of a dive boat that caught fire off the coast of Southern California in 2019, killing all 33 passengers and one of its six crew members, was found guilty by a federal jury on Monday on one count of an offense known as “seaman’s manslaughter.”When the commercial scuba diving vessel, the Conception, caught fire in a harbor near Santa Cruz Island early on the morning of Sept. 2, 2019, all the passengers were sleeping below deck. Prosecutors say the captain, Jerry Nehl Boylan, successfully escaped, along with four members of the crew, without trying to help them. Mr. Boylan failed to carry out his duties as a ship officer in part by “failing to perform any lifesaving or firefighting activities whatsoever at the time of the fire, even though he was uninjured,” the United States Attorney’s Office for the Central District of California said in a news release on Monday that announced the conviction. A sentencing hearing is scheduled for February, the release said. Mr. Boylan could face up to 10 years in prison.

Persons: ”, Jerry Nehl Boylan, Boylan Organizations: Prosecutors, United States Attorney’s Office, Central, Central District of Locations: Southern California, Santa Cruz, United, Central District, Central District of California

☆ Trump's free speech defense may fall short in election subversion trial
▼ + stars: | 2023-11-06 | by ( Andrew Goudsward | ) www.reuters.com time to read: +6 min

Trump’s defense lawyers, in a flurry of legal motions, have argued that the case by Special Counsel Jack Smith "attempts to criminalize core political speech and political advocacy." At trial, legal experts say Trump will likely not be allowed to argue to a jury that his conduct was protected by his First Amendment right to free speech because such legal questions are resolved by the judge. Those claims complement his political case as an anti-establishment crusader whose movement is opposed by powerful foes seeking to silence him. Criminal defendants can use the defense to argue they sought legal opinions and did not intend to break the law. Three former Trump lawyers have already pleaded guilty in Georgia, including Kenneth Chesebro, who drafted memos crafting the fake elector scheme.

Persons: Donald Trump, Octavio Jones, Jack Smith, Trump, Democrat Joe Biden, Trump . Trump, Jonathan Turley, Mike Pence, “ He’s, ”, Ty Cobb, “, Arthur Engoron, Mr Kise, Engoron, Christopher Kise, Tanya Chutkan, Kristy Parker, ” Trump, William Barr, Kenneth Chesebro, Andrew Goudsward, Scott Malone, Jonathan Oatis Organizations: U.S, Republican, Florida Freedom Summit, Gaylord, Convention, REUTERS, Rights, Democrat, Trump ., George Washington University, Trump, Protect Democracy, Capitol, Prosecutors, Thomson Locations: Florida, Kissimmee , Florida, U.S, Washington, New York, Georgia

MEMPHIS, Tenn. (AP) — A judge has set an August trial date for four former Memphis police officers charged in the fatal beating of Tyre Nichols after a traffic stop in January. During a short hearing on Monday, Shelby County Criminal Court Judge James Jones Jr. announced the Aug. 12 trial date in the cases of Emmitt Martin, Tadarrius Bean, Demetrius Haley and Justin Smith. A fifth officer charged in the case, Desmond Mills Jr., pleaded guilty last week to federal charges of excessive force and obstruction of justice. The five former officers who were charged also are Black. The federal trial date for the four other officers is May 6.

Persons: —, Tyre Nichols, James Jones Jr, Emmitt Martin, Tadarrius Bean, Demetrius Haley, Justin Smith, Desmond Mills Jr, Mills, Nichols, Jan Organizations: Memphis, Prosecutors, U.S, Memphis Police Department Locations: MEMPHIS, Tenn, Shelby

Woodyard had pleaded not guilty to charges of reckless manslaughter and criminally negligent homicide in connection with McClain’s death. The officer remains suspended from the department without pay, pending the outcome of the trial. Prosecutors initially declined to bring charges against the officers and paramedics involved in McClain’s death, but the case received renewed scrutiny following the nationwide Black Lives Matter protests in the spring of 2020. Jared Polis appointed a special prosecutor to reexamine the case, and in 2021 a grand jury indicted Woodyard, two other officers and two paramedics in McClain’s death. Two paramedics who treated McClain, Jeremy Cooper and Peter Cichuniec, are set to go on trial in the coming weeks.

Persons: Nathan Woodyard, Elijah McClain, Woodyard, McClain, Philip Weiser, Weiser, Sheneen McClain, “, ” “, she’s, ”, I’ve, ” Sheneen McClain, MiDian Holmes, Prosecutors, Jared Polis, Woodyard’s, Roger Mitchell Jr, David Beuther, Randy Roedema, Jason Rosenblatt, Roedema, Rosenblatt, Jeremy Cooper, Peter Cichuniec Organizations: CNN, Aurora, Colorado, Colorado Gov, Prosecutors Locations: Colorado, Aurora

☆ Despite all that's at stake, Donald Trump's No. 1 obsession on the witness stand remains an imaginary insult to Mar-a-Lago
▼ + stars: | 2023-11-06 | by ( Jacob Shamsian | Laura Italiano | ) www.businessinsider.com time to read: +5 min

Trump cried "fraud," falsely accusing the judge of valuing the property at $18 million. "The fraud is on the court when you rule that Mar-a-Lago is worth $18 million," Trump said. Trump and his allies have seized on that part of the opinion, falsely claiming that Engoron had personally valued Mar-a-Lago at $18 million. He said it's worth 18 million. "Please, press, stop saying I'm valuing it at $18 million.

Persons: Donald Trump, Trump, —, Lago, Arthur Engoron, who's, Engoron, Kevin Wallace, Alina Habba, I'm, Habba, Letitia James, James, Joe Biden, Wallace Organizations: Service, New York, Mar, Trump, The New, Trump Organization, Prosecutors, Republican, New Locations: Manhattan, Palm Beach , Florida, The New York, New York, United States

☆ Exclusive: Cigna explores shedding Medicare Advantage business -sources
▼ + stars: | 2023-11-06 | by ( David Carnevali | ) www.reuters.com time to read: +4 min

Cigna is working with an investment bank to evaluate options for its Medicare Advantage business, which could fetch several billions of dollars in a potential divestment, the sources said. Cigna's Medicare Advantage business generated 4.4% of the company's $179.4 billion in revenue from external customers in 2022. Cigna also said profit margins in Medicare Advantage in 2023 continue to be below its long-term target of 4% to 5%, which it expected to remain the case in 2024. Cigna has said it expects changes to the government's star rating system, which informs some of the reimbursement decisions, will lead to a decrease in the rating of its Medicare Advantage business in payment-year 2024. Cigna said in September it would pay about $172 million to settle charges from U.S. prosecutors that it overcharged the Medicare Advantage program by making patients appear more ill than they actually were.

Persons: Andrew Kelly, Cigna, Goldman Sachs, David Carnevali, Bill Berkrot Organizations: REUTERS, Cigna, Reuters, Medicare, U.S . Centers, Services, U.S . Department of Health, Human Services, Thomson Locations: Queens , New York City, U.S, HealthSpring, Bloomfield , Connecticut, New York

☆ Sam Bankman-Fried and the SEC
▼ + stars: | 2023-11-05 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Journal Editorial Report: The week’s best and worst from Kim Strassel, Bill McGurn and Dan Henninger. Images: AP/Reuters Composite: Mark KellySam Bankman-Fried charmed investors and politicians, but he wasn’t so fortunate with a federal jury. On Thursday the former FTX crypto-exchange kingpin was convicted of seven counts of fraud and money-laundering. Note to Chairman Gary Gensler : The Securities and Exchange Commission doesn’t need to regulate crypto markets to police malfeasance. Prosecutors showed that Mr. Bankman-Fried used the money to fund risky investment bets and cover losses at his Alameda Research trading house, buy influence in Washington, and acquire real estate in the Bahamas.

Persons: Kim Strassel, Bill McGurn, Dan Henninger, Mark Kelly Sam Bankman, Fried, Gary Gensler, FTX Organizations: Reuters, Securities, Exchange, Prosecutors, Alameda Research Locations: Washington, Bahamas

☆ Opinion: Trump testifies in court. Nothing has prepared him for this moment.
▼ + stars: | 2023-11-05 | by ( Monica Sarkar | Dennis Aftergut | ) edition.cnn.com time to read: +9 min

On the issue of intent, in last week’s testimony, Donald Trump Jr. and Eric Trump both attempted to shift the blame onto their accountants. First, the judge has already rejected a key route Trump tried to avoid an admission that he intended to defraud the victims. He fined Trump’s lawyers for doing just that. Again, the attorney general wins whether Trump denies it, or whether he doubles down on what the judge has called Trump’s “fantasy world” financial claims. If the past is prologue, Trump likely will continue to deny liability: Blowing smoke is simply in the nature of a narcissist.

Persons: Dennis Aftergut, —, kingpins, Donald Trump, Letitia James, ”, Jack Smith, Fani Willis, James, James ’, Arthur Engoron, Trump, Donald Trump Jr, Eric Trump, Ivanka Trump, Trump’s, Mary ”, ” Trump, don’t, Michael Cohen, brag, there’s, that’s Organizations: Defending American Democracy, CNN, New York, Trump Organization, Trump, US Justice Department, District, Prosecutors, Newsweek, Forbes, Department Locations: Fulton County , Georgia, York, New York, ”

PARIS (AP) — Thousands of pro-Palestinian demonstrators demanding a halt to Israel’s bombardment of Gaza marched in Paris, Berlin and other European cities on Saturday. The Palestinian death toll in the Israel-Hamas war has reached 9,448, according to the Hamas-run Health Ministry in Gaza. In Israel, more than 1,400 people have been killed, most of them in the Oct. 7 Hamas attack that started the war. Several thousand protesters also marched through the west German city of Duesseldorf. In its Oct. 7 surprise attack on Israel, Hamas employed paragliders to get some fighters across the border between Gaza and southern Israel.

Persons: “ Israel, “, Emmanuel Macron, “ Macron, ”, Stéphane Drai, paragliders, Matteo Salvini, Yara, John Leicester, Stephen McGrath, Brian Melley, Frances D’Emilio, Silvia Stellacci, Kirsten Grieshaber Organizations: PARIS, Ministry, ”, BFM, Police, London, Metropolitan Police, Prosecutors, Hamas, Palestinian, Gaza University, Associated Press Locations: Gaza, Paris, Berlin, Europe, Israel, France, London, Palestine, ” Paris, République, French, Lyon, German, Duesseldorf, Bucharest, ”, Milan, Rome, Italy, Le Pecq, Romania

☆ Sam Bankman-Fried Faces Lengthy Sentence—And Long Odds on Appeal
▼ + stars: | 2023-11-03 | by ( Corinne Ramey | James Fanelli | ) www.wsj.com time to read: +1 min

Sam Bankman-Fried, the founder of FTX, was convicted Thursday in a New York federal court of stealing billions of dollars from customers. Prosecutors have called it one of the biggest financial frauds in U.S. history. Photo: Amr Alfiky/ReutersDisgraced crypto star Sam Bankman-Fried is staring down a lengthy prison sentence after being convicted of fraud in the collapse of FTX, and he faces long odds of making any inroads on appeal. A federal jury in New York wasted little time Thursday in convicting the 31-year-old FTX founder of all seven counts he faced, a verdict issued just hours after deliberations began. Jurors agreed with prosecutors that theft and lies by Bankman-Fried fueled FTX’s demise.

Persons: Sam Bankman, Amr Alfiky, Fried Organizations: Prosecutors, Venture Locations: New York, convicting

☆ FTX Founder Sam Bankman-Fried Found Guilty of Fraud
▼ + stars: | 2023-11-03 | by ( Wall Street Journal | ) www.wsj.com time to read: 1 min

FTX Founder Sam Bankman-Fried Found Guilty of FraudSam Bankman-Fried, the founder of FTX, was convicted Thursday in a New York federal court of stealing billions of dollars from customers. Prosecutors have called it one of the biggest financial frauds in U.S. history. Photo: Amr Alfiky/Reuters

Persons: Sam Bankman, Amr Alfiky Organizations: Prosecutors, Reuters Locations: New York

From crypto wunderkind to felonIt took jurors just four-and-a-half hours yesterday to reach a verdict in the monthlong fraud trial of Sam Bankman-Fried, the founder of the fallen cryptocurrency exchange FTX. The result was unanimous: guilty on all counts. Bankman-Fried has now completed a narrative arc from whiz-kid founder of a crypto empire to fraudster who stole billions in customer funds. Prosecutors moved to paint the FTX founder — who appeared on magazine covers and hobnobbed with former world leaders — as a scammer who repeatedly lied about his business and profited from illegal use of investor and customer funds. “This was a fraud that occurred on a massive scale,” Nicolas Roos, a prosecutor, said in closing arguments.

Persons: Sam Bankman, Fried, fraudster, —, ” Nicolas Roos Organizations: Stanford, Prosecutors

WASHINGTON (AP) — Chinese middlemen launder the proceeds of North Korean hackers’ cyber heists while Chinese ships deliver sanctioned North Korean goods to Chinese ports. China views North Korea as a buffer against the U.S., which maintains a significant troop presence in South Korea. The U.S. has accused North Korea of supplying artillery shells and rockets to Russia, while new evidence shows Hamas fighters likely fired North Korean weapons during their Oct. 7 assault on Israel. “China violates North Korea sanctions it voted for and says won’t work because it’s afraid they’ll work. Such “over-the-counter” brokers allow North Korean hackers to bypass know-your-customer rules governing banks and other financial exchanges.

Persons: “, ” Aaron Arnold, Kim Jong Un, ”, Joshua Stanton, cryptocurrency, Anthony Ruggiero, couldn’t, hadn’t, Eric Penton, Dake Kang Organizations: WASHINGTON, North, Associated, United Nations, Royal United Services Institute, U.S, . Security, North Korean, Kremlin, AP, Treasury, government’s Ministry of Commerce, U.N, Associated Press, Carnegie Corporation of New, Outrider Foundation, Investigative@ap.org Locations: Beijing, Korea, North Korea, China, Pyongyang, South Korea, Ukraine, The U.S, Russia, Israel, North, U.S, Carnegie Corporation of New York

☆ 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

☆ Jurors are deliberating on Sam Bankman-Fried's fate. Here's what they'd have to agree on to convict the FTX founder.
▼ + stars: | 2023-11-02 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Prosecutors charged him with money laundering and conspiring to defraud FTX and Alameda customers, investors, and lenders. Here's a breakdown of the seven charges jurors are considering. AdvertisementAdvertisementProsecutors allege he stole money from customers of FTX, the exchange, and used the funds for trades, investments, and property purchases through Alameda Research. AdvertisementAdvertisementIn addition to the criminal counts in this trial, Bankman-Fried faces another set of charges related to allegedly illegal campaign contributions. AdvertisementAdvertisementBeyond the criminal charges, Bankman-Fried has a slew of other legal problems, including negotiations over FTX's bankruptcy and civil lawsuits from regulators and investors who claim they were defrauded.

Persons: Sam Bankman, FTX, —, Fried, Lewis Kaplan, — Prosecutors, Caroline Ellison, it's, Kaplan, he's Organizations: Prosecutors, Service, Alameda Research, Bowl, — Locations: Alameda, Manhattan, Bahamas, FTX

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

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

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