DIRS.INFO The most relevant business & tech news

☆ Man who tricked Tesla into giving him 5 free cars and set one on fire on a frozen lake gets 4-year prison sentence
▼ + stars: | 2023-10-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

A 34-year-old man tricked Tesla into giving him five EVs without full payment, the US DOJ said. The man, Michael Gonzalez, resold a Model 3 and two Model Xs for about $231,900, prosecutors said. AdvertisementAdvertisementA man who managed to trick Tesla into giving him five of its electric cars for free has been sentenced to four years in prison, according to the US Department of Justice. The man, 34-year-old Michael Gonzalez from Vermont, was able to get five brand new EVs from Tesla that were worth over $560,000 in total, the DOJ said. The vehicles included a 2018 Model 3, and four Model X EVs, according to court records.

Persons: Tesla, Michael Gonzalez, Gonzalez, —, Prosecutors, he'd, Michael Organizations: DOJ, Service, US Department of Justice, eBay, Craigslist, Vermont Department of Motor Vehicles, MarketWatch, Tesla, US, Office, District of Locations: Michael Gonzalez from Vermont, Shelburne Bay, Vermont, District of Vermont

BIRMINGHAM, Ala. (AP) — Court records filed Friday indicate Joran van der Sloot, the chief suspect in Natalee Holloway’s 2005 disappearance, intends to plead guilty in a federal case accusing him of trying to extort money from the missing teen’s mother. A federal judge set an Oct. 18 plea and sentencing hearing for van der Sloot in Birmingham, Alabama. The Alabama teen was last seen leaving a bar with van der Sloot, a student at an international school on the island. Van der Sloot was identified as a main suspect and was detained for questioning but no charges were filed in the case. U.S. prosecutors say that in 2010, van der Sloot sought money from Beth Holloway to disclose the location of her daughter's body.

Persons: Joran van der Sloot, Natalee, van der Sloot, van der, der Sloot, Holloway, Van der Sloot, Beth Holloway Organizations: —, Alabama Locations: BIRMINGHAM, Ala, Birmingham , Alabama, Alabama, Peru, Peruvian, Aruba, U.S

In the courtroom, the personal dynamics between Mr. Bankman-Fried and his friends have become a vital component of the case. Prosecutors have shown photographs of Mr. Bankman-Fried socializing with Mr. Yedidia and other onetime confidants, seeking to draw out testimony about the relationships at the heart of FTX. On the witness stand, Mr. Bankman-Fried’s old allies have mostly avoided looking at him. “You can anticipate that at closing, this is one of the things that the United States is going to harp on: These were people who were close personal friends of S.B.F.,” said Daniel Silva, a former federal prosecutor. He has pleaded not guilty to seven counts of fraud, conspiracy and money laundering, and faces what would amount to a life sentence if convicted.

Persons: Fried, Yedidia, Bankman, ”, Daniel Silva, ” Mr Organizations: Prosecutors Locations: FTX’s, Bahamas, FTX, United States

WASHINGTON, Oct 12 (Reuters) - U.S. prosecutors say an Israeli private investigator used hackers to steal emails from climate activists who were campaigning against American energy giant Exxon Mobil Corp (XOM.N). Prosecutors stopped short of stating a connection between the Israeli private eye – former policeman Aviram Azari – and Exxon, and the memo did not identify any of his clients. Victims say that leaves a key question unanswered. Exxon pushed back, filing lawsuits that cited press articles, which suggested the activists were using underhanded tactics. “Azari facilitated the hacking scheme by directing groups of hackers, including a particular group of individuals based in India, to target specific victims,’” prosecutors wrote.

Persons: Damian Williams, parry, Prosecutors, Aviram Azari, Kert Davies, Paul Weiss, Bradley Campbell, Williams, Azari, Barry, “ Azari, ’, Raphael Satter, Christopher Bing, Leslie Adler, Richard Chang Organizations: U.S, Exxon Mobil Corp, Southern, of, Exxon, Climate Integrity, Natural Resources, Conservation Law Foundation, Exxon Mobil, Reuters, Thomson Locations: of New York, New York, Massachusetts, India, United States

☆ Trump and Gaetz Are 'Re-Educating' Fans to Embrace Violence: Historian
▼ + stars: | 2023-10-12 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

Ruth Ben-Ghiat, a historian at NYU, accused Trump on Wednesday of encouraging violence. Trump is "re-educating" his followers, she said, wanting them to see violence "in a positive light." Trump "has been re-educating Americans since 2015," Ben-Ghiat said, "using his rallies, using his events, to see violence differently; to see violence in a positive light." AdvertisementAdvertisement"That's why he went to Waco," she said, referring to where Trump rallied his followers in March. Violence, Ben-Ghiat argued, has indeed been normalized in MAGA politics.

Persons: Ruth Ben, Trump, Ben, Ghiat, —, Donald Trump, MAGA, Ghiat —, Trump's, — he's, Bill Clinton, Prosecutors, Matt Gaetz, … Organizations: NYU, The New, Service, New York University, . Waco, Capitol, Trump, Florida Republican, Fair Locations: New York City, The New Republic, United States, Manhattan, Chile, Waco, ., Florida, Iowa, Washington

☆ Split verdict for Colorado police officers tried in death of Elijah McClain
▼ + stars: | 2023-10-12 | by ( Brad Brooks | ) www.reuters.com time to read: +3 min

Protesters gather for a rally to call for justice for Elijah McClain in Denver, Colorado, U.S., November 21, 2020. The same jury found Jason Rosenblatt, another officer jointly tried with Roedema, not guilty on manslaughter and assault charges. Aurora officers Roedema and Rosenblatt were defendants in the first of three trials in the death of McClain. A revised autopsy report in September 2022 concluded McClain died from "complications of ketamine administration following forcible restraint." The footage does not show McClain grabbing for a gun, but Roedema can be heard yelling that McClain tried to get Rosenblatt's weapon.

Persons: Elijah McClain, Kevin Mohatt, Randy Roedema, Jason Rosenblatt, Roedema, Rosenblatt, McClain, Sheneen McClain, Art Acevedo, brutalized McClain, Aurora . McClain, George Floyd, Floyd's, Brad Brooks, Dan Whitcomb, Donna Bryson Organizations: REUTERS, Denver Post, Aurora Police, Prosecutors, Aurora, Minneapolis police, Thomson Locations: Denver , Colorado, U.S, Colorado, America, Denver, Aurora ., Minneapolis, Longmont , Colorado, Los Angeles, Lincoln

☆ US Senator Menendez charged with conspiring to act as foreign agent
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +1 min

Senator Bob Menendez (D-NJ) speaks to reporters while on his way to a vote following a Senate Democratic caucus meeting on Capitol Hill in Washington, U.S., September 28, 2023. REUTERS/Craig Hudson/File Photo Acquire Licensing RightsOct 12 (Reuters) - U.S. prosecutors pursuing a corruption case against Democratic U.S. Senator Bob Menendez on Thursday brought a new charge against him, accusing him of engaging in a conspiracy to act as a foreign agent for the Egyptian government. The new charge was included in a revised indictment filed against the Democratic senator for New Jersey in federal court in Manhattan. The Democratic senator for New Jersey has thus far resisted calls for his resignation.

Persons: Bob Menendez, Craig Hudson, Kanishka Singh, Susan Heavey, Franklin Paul Organizations: Democratic, Capitol, REUTERS, U.S, Democratic U.S, Franklin Paul Our, Thomson Locations: Washington , U.S, New Jersey, Manhattan, Washington

☆ Sen. Bob Menendez, once top Senate foreign-policy chairman, accused of acting as foreign agent
▼ + stars: | 2023-10-12 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Federal prosecutors say Sen. Bob Menendez acted as a foreign agent on behalf of Egypt. They said in a new indictment that Menendez should have registered as a foreign lobbyist. He was the top Senate Democrat for foreign policy for most of the time the allegations stemmed from. In a new superseding indictment, prosecutors added the foreign-agent charge to the litany of counts against Menendez, his wife, Nadine Menendez, and a New Jersey businessperson. At the time from which the allegations stem, Bob Menendez was the top Democrat on the Senate Foreign Relations Committee.

Persons: Sen, Bob Menendez, Menendez, —, Democratic Sen, Nadine Menendez, Will Hana, Hana, Prosecutors, Nadine, Trump, David Rivera Organizations: Service, Democratic, Prosecutors, Benz, Senate Foreign Relations, Democrats, New, State Department, Justice Department, US Department of Agriculture, USDA, Foreign, Republican Locations: Egypt, New Jersey, Menendez's, Cairo, Washington, FARA

Caroline Ellison got into the wrong car as she departed from the courthouse on Tuesday. A picture from the scene shows her shocked and panicked expression as she realized her mistake. The blunder illustrates the media circus around Sam Bankman-Fried's criminal trial. AdvertisementAdvertisementCaroline Ellison has had a chaotic few days since she began testifying in the criminal trial of her ex-boyfriend Sam Bankman-Fried. A picture from the scene shows Ellison's seemingly panicked expression as she realized she'd gotten into the wrong vehicle.

Persons: Caroline Ellison, Sam Bankman, —, Ellison, she'd, Ellison's, Eduardo Munoz Alvarez, Fried Organizations: Service, InnerCity Press, Alameda Research, Prosecutors Locations: Manhattan

☆ Hamas proudly committed war crimes. Is Israel's government about to do the same?
▼ + stars: | 2023-10-11 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +10 min

AdvertisementAdvertisementThere is no special carve-out in international law that allows the victims of war crimes to commit war crimes in return. War crimes are seldom punished if they are endorsed by a superpower. Even during the bloody post-9/11 period, Western governments refrained from announcing that they intended to commit war crimes. When it came to terrorists, he said during his first campaign, "you have to take out their families," an explicit endorsement of war crimes. But it took Vladimir Putin's 2022 invasion of Ukraine to fully put Trump's stated doctrine into practice — a modern military, in uniform, openly committing war crimes at scale.

Persons: Biden, Netanyahu, —, Michael Sfard, Tom Dannenbaum, Dannenbaum, Gallant, Benjamin Netanyahu, Marco Rubio, Mahmud Hams, Netanyahu's, Joe Biden, Donald Trump, Trump, institutionalizing, Vladimir Putin's, Trump's, Vladimir Putin, weren't Organizations: Service, Israeli Defense Forces, Tufts, Terrorists, CIA, Prosecutors, Hague, US Justice Department, ICC, Hamas Locations: Gaza, Israel, Europe, Southeast Asia, Latin America, Afghanistan, Ukraine

☆ Who Is Nadine Arslanian, Bob Menendez's Wife Indicted in a Bribery Scandal?
▼ + stars: | 2023-10-11 | by ( Michelle Mark | Katherine Long | ) www.businessinsider.com time to read: +17 min

Sen. Bob Menendez and his wife Nadine Arslanian arrive at federal court following an indictment on corruption charges. Still, even prior to Menendez and federal indictment, Arslanian brushed up against fame and scandal. Arslanian "liked nice things," Anton told Insider. The longtime friend, who asked not to be identified by name, told Insider that Arslanian was conscious of her looks. AdvertisementAdvertisement"We felt that it was a very one-sided investigation," Koop's sister, Rosemarie Koop-Angelicola, told Insider.

Persons: Nadine Arslanian, Richard Koop, Robert Menendez, Arslanian texted Menendez, Sen, Bob Menendez, Brendan McDermid, Menendez's, Arslanian, Menendez, Chris Christie, Doug Anton, Kim DePaola, Kelly, Anton, Kyriakos Mitsotakis, Mareva Mitsotakis, Chip Somodevilla, Nadine Tabourian, Raffi Arslanian, Sabine, André, Arslanian's, Last, Marco Tacca, Anton's, Koop, —, Narendra Modi, Stefani Reynolds, Bono, — Menendez, Taj, Robert, Nadine, Menendez cradling Arslanian, they've, Koop's, Rosemarie Koop, Angelicola, she's, Wael Hana, Douglas Anton, Jose Uribe, Uribe, Fred Daibes, Bob, Nadine wasn't, Aaron Short Organizations: New Jersey IHOP, Benz, Reuters, Democratic Party, Prosecutors, longtime Garden, Arslanian's, Real Housewives of New, Attorney, Greek, White House, New York University, New York Times, Housewives of, Indian, Getty, Lincoln, Police, Senate Foreign Relations, Strategic, Business Consultants, Strategic International Business Consultants, Hana, Department of Justice Locations: New Jersey, Bogota , New Jersey, Englewood Cliffs, Real Housewives of New Jersey, Beirut, Lebanon, United States, Bergen, Jersey, Cernobbio, Italy, AFP, Bergen County, Union City, Queens, Arslanian's Englewood, Washington, DC, Bogota, Egypt, Arslanian, Egyptian, Englewood

☆ Sam Bankman-Fried's ex-girlfriend set to take stand as fraud trial's star witness
▼ + stars: | 2023-10-10 | 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: +4 min

REUTERS/Eduardo Munoz//File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 10 (Reuters) - Sam Bankman-Fried's fraud trial is set to resume on Tuesday with testimony from his former colleagues at the now-bankrupt FTX cryptocurrency exchange, including his onetime girlfriend Caroline Ellison. Prosecutors said last week they planned to call Ellison, the former co-chief executive officer of Bankman-Fried's Alameda Research hedge fund, to take the stand once Wang finishes his testimony. U.S. District Judge Lewis Kaplan said that likely amounted to witness-tampering, and on Aug. 11 revoked Bankman-Fried's bail. A third former member of Bankman-Fried's inner circle, ex-FTX engineering chief Nishad Singh, is also expected to testify at trial. Reporting by Luc Cohen and Jody Godoy in New York; Editing by Noeleen Walder and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Caroline Ellison, Gary Wang, Prosecutors, Ellison, Wang, Ellison's, Fried, District Judge Lewis Kaplan, Nishad Singh, FTX, Christian Everdell, Mark Cohen, Luc Cohen, Jody Godoy, Noeleen Walder, Matthew Lewis Organizations: REUTERS, Alameda Research, New York Times, U.S, District, Brooklyn's Metropolitan Detention Center, Bankman, Alameda, Thomson Locations: New York, U.S, Alameda, Brooklyn's, Manhattan, Washington ,

☆ Inside Sam Bankman-Fried's $35 million crypto frat house in the Bahamas
▼ + stars: | 2023-10-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +11 min

Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Lawyers for the U.S. Attorney's office entered into evidence photos featuring Sam Bankman-Fried and his fellow co-workers at their shared $35 million Bahamian penthouse. In his testimony, Yedidia recalled a group Signal thread labeled "People of the House," which referred to Bankman-Fried's $35 million penthouse. Zoom In Icon Arrows pointing outwards Exhibit from the prosecution shows Signal thread called "People of the House," referring to Bankman-Fried's $35 million penthouse, where many employees lived.

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

☆ 'I wanted more': Caroline Ellison tells jury that Sam Bankman-Fried didn't pay her enough attention during their relationship
▼ + stars: | 2023-10-10 | by ( Grace Kay | Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

Caroline Ellison gave details on her past relationship with Sam Bankman-Fried in court on Tuesday. The ex-Alameda Research CEO said she "wanted more" in the relationship. Caroline Ellison, the former CEO of Alameda Research, broke down her relationship with her on-and-off boyfriend Sam Bankman-Fried during his criminal trial in a downtown Manhattan federal courtroom on Tuesday. "In our personal relationship, there was a feeling that I wanted more in our relationship," Ellison testified. Prosecutors allege the former FTX CEO commingled funds between FTX and Alameda Research.

Persons: Caroline Ellison, Sam Bankman, Ellison, —, Jane Street, Fried, Michael Lewis, Caroline, Lewis, Sam Organizations: Alameda Research, Service, Jane, New York Times, Bankman, Prosecutors Locations: Manhattan, FTX, Alameda

☆ FTX co-founder Gary Wang agreed to cooperate in Sam Bankman-Fried case in his first meeting with prosecutors: 'I thought I was likely to be charged'
▼ + stars: | 2023-10-06 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +4 min

Gary Wang agreed to cooperate with prosecutors in his first meeting with them. "I thought I was likely to be charged and I wanted to get a shorter prison sentence," he testified Friday. AdvertisementAdvertisementOne of his co-conspirators, he said on the witness stand Friday, was his FTX co-founder Bankman-Fried. On Friday, Wang said he wanted to cooperate with prosecutors because he knew what he did at FTX was wrong. "Customers did not agree for us to use their funds," Wang said.

Persons: Gary Wang, Sam Bankman, —, Fried, Wang, FTX, Bankman, Chelsea Jia Feng, he'd Organizations: Service, MIT, Alameda Research, Prosecutors, US, FBI, Alameda Locations: Manhattan, Bankman, FTX, Alameda, Bahamas

☆ Sex, Signal messages and sabotage: SBF's top execs and Bahamas roommates tell all in court
▼ + stars: | 2023-10-06 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

"Sam Bankman-Fried," he said. Wang said that in response to the reporting an emergency meeting was called between Bankman-Fried, Wang and Singh, to discuss shutting down Alameda. On Nov. 12, after FTX declared bankruptcy, Bankman-Fried asked Wang to drive with him to the Bahamas Securities Commission for a meeting. Yedidia said Bankman-Fried had told him, before he began working in the Bahamas in 2019, that he and Ellison had sex. Bankman-Fried asked Yedidia if it was a good idea for them to date, to which Yedidia said no.

Persons: Adam Yedidia, Sam Bankman, Jane Rosenberg, —, Gary Wang, Nicolas Roos, Wang, FTX, Nishad Singh, Caroline Ellison, Mr, Roos, Ellison, Fried, Reuters Wang, District Judge Lewis Kaplan, Singh, Yedidia, Bankman, Sam, Christian Everdell, he's, I'm, Matt Huang, Yuki Iwamura, Huang, Dawn Giel Organizations: Federal Court, Reuters, MIT, U.S, Alameda Research, District, Prosecutors, Bahamas Securities Commission, Massachusetts Institute of Technology, Google, Alameda, United, Paradigm, FTX, Bloomberg, Getty Locations: FTX, New York City, Bahamas, Manhattan, U.S, Alameda, Bahamian, New York, China, Minnesota, FTX's Hong Kong, Nassau, Bankman

☆ Trump allegedly revealed sensitive info about nuclear submarines, according to reports
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +3 min

After he left the White House, former President Donald Trump allegedly shared sensitive information about U.S. nuclear submarines with an Australian billionaire who is a member of his Mar-a-Lago club, according to a pair of reports published on Thursday. Trump shared the information with Anthony Pratt during an April 2021 conversation at the Palm Beach, Fla., golf club, according to ABC News, which first reported the development. The New York Times also confirmed the former president shared the information with Pratt, citing two people familiar with the matter. Trump shared the number of warheads that U.S. submarines typically carry and how close they can get to Russian submarines without being detected, according to both ABC and the New York Times. Trump didn't show any government documents to him during the meeting or any other time at Mar-a-Lago, sources told ABC News.

Persons: Donald Trump, Anthony Pratt, Scott Morrison, Trump, Pratt, Jack Smith's, Trump's, Steven Cheung Organizations: Pratt, Australian, Pratt Industries, White, ABC News, New York Times, FBI, ABC, Justice, NBC, Mar, Times, Department of Justice, Prosecutors, Trump Locations: Wapakoneta , Ohio, Beach, Fla, Australia, U.S, Russian, Fort Pierce

☆ Former Goldman banker Ng to be returned in Malaysia in 1MDB case
▼ + stars: | 2023-10-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

In a letter filed on Thursday in Brooklyn federal court, U.S. prosecutors asked a judge to order Ng's surrender to the U.S. Marshals Service by Friday so he could be turned over to Malaysian law enforcement, who would transport him to their country. The case stemmed from about $6.5 billion in bonds that Goldman helped 1MDB sell in 2012 and 2013. Goldman settled with authorities in October 2020, agreeing to pay $2.9 billion and having its Malaysian unit plead guilty to a corruption charge. Ng had been arrested in Malaysia in November 2018, and agreed to be extradited to the United States.

Persons: Goldman Sachs, Roger Ng, Ng, Ng's, Ng Chong Hwa, Goldman, 1MDB, Margo Brodie, Tim Leissner, Jho, Jonathan Stempel, Richard Chang Organizations: U.S . Marshals, U.S, Malaysian, Thomson Locations: New York, Brooklyn, U.S, United States, Kuala Lumpur, Malaysian, Malaysia . U.S, 1MDB, Malaysia

☆ Trump moves to have 'meandering' New York hush money case dismissed
▼ + stars: | 2023-10-05 | by ( Adam Reiss | Dareh Gregorian | ) www.cnbc.com time to read: +4 min

Former President Donald Trump wants a New York judge to dismiss the criminal case against him charging that he falsified business records relating to hush money payments, arguing prosecutors waited too long to bring their case. "The delay has prejudiced President Trump, interfered with his ongoing presidential campaign, and violated his due process rights," the filing by Trump attorneys Todd Blanche and Susan Necheles contends, and the charges should therefore be dismissed. That information was hush money paid to two women who claimed to have had affairs with Trump. In their filing, Trump's lawyers contended it was accurate. Trump has pleaded not guilty in both federal cases and denied wrongdoing in the AG's civil case.

Persons: Donald Trump, Letitia James, Manhattan DA Alvin Bragg, Trump, Todd Blanche, Susan Necheles, Michael Cohen, Stormy Daniels, Cohen, Juan Merchan, Trump's, Arthur Engoron's Organizations: U.S, Trump Organization, Manhattan DA, Trump, Prosecutors, New, Democratic Locations: New York City, York, New York, Washington ,

☆ Former Goldman banker Ng to be returned to Malaysia in 1MDB case
▼ + stars: | 2023-10-05 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Ex-Goldman Sachs banker Roger Ng and his lawyer Marc Agnifilo leave the federal court in New York, U.S., May 6, 2019. Marshals Service by Friday so he could be turned over to Malaysian law enforcement, who would transport him to their country. The case stemmed from about $6.5 billion in bonds that Goldman helped 1MDB sell in 2012 and 2013. Goldman settled with authorities in October 2020, agreeing to pay $2.9 billion and having its Malaysian unit plead guilty to a corruption charge. Ng had been arrested in Malaysia in November 2018, and agreed to be extradited to the United States.

Persons: Goldman Sachs, Roger Ng, Marc Agnifilo, Margo Brodie, Ng's, Ng, Brodie, Ng Chong Hwa, Goldman, 1MDB, Tim Leissner, Jho, Jonathan Stempel, Richard Chang 私 Organizations: REUTERS, Chief U.S, U.S . Marshals, U.S, Malaysian Locations: New York, U.S, Brooklyn, United States, Kuala Lumpur, Malaysian, Malaysia, 1MDB

NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX. The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. He added that Bankman-Fried had directed him to implement the changes giving Alameda special privileges. Wang, 30, is the first of three former close associates of Bankman-Fried to testify at the trial, which began on Tuesday. Wang said Bankman-Fried decided to name the firm Alameda Research because it "makes it easier to do business if the name doesn't mention trading or cryptocurrency."

Persons: Sam Bankman, Gary Wang, Fried, Wang, FTX, FTX's, Mark Cohen, Matt Huang, Huang, Bankman, Nishad Singh, Caroline Ellison, Alameda's, Adam Yedidia, Yedidia, Sam, Joseph Bankman, Barbara Fried, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Alameda Research, Alameda, Massachusetts Institute of Technology, Prosecutors, MIT, Stanford Law, Thomson Locations: Alameda, tatters, Manhattan, FTX, China, United States, Bahamas, Yedidia, New York

☆ FTX co-founder admits he and Sam Bankman-Fried committed fraud
▼ + stars: | 2023-10-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —A key witness for prosecutors in the trial of Sam Bankman-Fried testified that both he and Bankman-Fried committed multiple financial crimes related to their oversight of now-bankrupt crypto exchange FTX. Gary Wang, who co-founded FTX with Bankman-Fried, told jurors — in compliance with an earlier plea deal — that he was guilty of wire fraud, securities fraud and commodities fraud, and that he committed those crimes under the direction of Bankman-Fried. Alameda’s ‘unlimited’ slush fundUnlike regular customers of FTX — a platform for individual investors and institutions to trade crypto — Alameda was allowed to run a negative balance and make “unlimited withdrawals” from FTX customers, Wang said. In response, “Sam said something like, ‘We were bulletproof last year; we’re not bulletproof this year,’” Yedidia told the jury. The $8 billion represented the money that FTX customers would be owed if they decided to withdraw their deposits, Yedidia said.

Persons: Sam Bankman, Fried, Gary Wang, Wang, FTX, haven’t, Mark Cohen, Nicolas Roos, ” Wang, empaneled, ‘, Adam Yedidia, Yedidia, SBF, “ Sam, ’ ” Yedidia, “, Sam, ” Yedidia, MIT undergrads, ” Organizations: New, New York CNN, Alameda Research, Prosecutors, MIT Locations: New York, Alameda, FTX

☆ Sen. Bob Menendez's wife Nadine Arslanian's fatal crash in Bogota, New Jersey, seen in newly-released video
▼ + stars: | 2023-10-04 | by ( Erin Snodgrass | Sebastian Cahill | ) www.businessinsider.com time to read: +3 min

Footage obtained by News 12 New Jersey shows the fatal crash involving Nadine Arslanian and a pedestrian. Arslanian, who is now married to Sen. Bob Menendez of New Jersey, was not charged in the incident. AdvertisementAdvertisementNewly released footage shows the moment Sen. Bob Menendez's now-wife Nadine Arslanian fatally hit a pedestrian in her Mercedes-Benz on a New Jersey street in December 2018. JUST IN: News 12 New Jersey has obtained security video from a 2018 incident where Sen. Menendez's wife Nadine Arslanian struck and killed a pedestrian. The security footage shows a car barreling into a person who appears to be standing in the street.

Persons: Nadine Arslanian, Sen, Bob Menendez, —, Bob Menendez's, Menendez's, VoyQH7weel, Arslanian, Menendez, Richard Koop Organizations: Bob Menendez of New, Service, Mercedes, Benz, New, Bogota Police Department, Prosecutors Locations: Jersey, Bob Menendez of, Bob Menendez of New Jersey, New Jersey, Bogota, Bergen County , New Jersey

LONDON (AP) — British police have opened an investigation into corporate manslaughter at a northern England hospital after a neonatal nurse was convicted of murdering seven babies and trying to kill six others when she worked there, authorities said Wednesday. The investigation will consider “areas including senior leadership and decision making to determine whether any criminality has taken place,” said Simon Blackwell, detective superintendent at Cheshire Constabulary. Former nurse Lucy Letby, 33, was convicted in August of killing seven newborns in the neonatal unit at the Countess of Chester Hospital in northwest England between June 2015 and June 2016. Prosecutors said she sickened the babies by injecting intravenous lines with air, poisoning some with insulin and force-feeding others milk. It said it couldn't provide any details, because the inquiry was at an early stage.

Persons: ”, Simon Blackwell, Lucy Letby, Countess Organizations: — British, Cheshire Constabulary, Chester Hospital, Prosecutors, Government, Police Locations: England, Cheshire

But FTX had asserted the opposite in an online post about a car race it sponsored in Miami Beach, Florida, six months before its November 2022 collapse. loadingAt Bankman-Fried's trial on Wednesday, prosecutors played for the jury FTX video advertisements in which a narrator said, "we're inviting everyone in," as well as spots featuring NFL quarterback Tom Brady and comedian Larry David. Bankman-Fried, 31, has pleaded not guilty to two counts of fraud and five counts of conspiracy over the collapse of FTX. Mark Cohen, Bankman-Fried's lawyer, said his client never intended to steal funds. "But on the other hand, many factors that nobody controlled could make crypto go up and down in value.

Persons: Sam Bankman, Mark Cohen, Jane Rosenberg, FTX, Shaquille O'Neal, Tom Brady, Larry David, Bankman, Prosecutors, cryptocurrency, Thane Rehn, Fried, Rehn, Cohen, O'Neal, Brady, David, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Federal Court, REUTERS, Twitter, Miami Heat, Thomson Locations: Bankman, FTX, New York City, U.S, Miami Beach , Florida, New York

Search resuls for: ". Prosecutors"

25 mentions found