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Search resuls for: "District of New Jersey"


5 mentions found


☆ Bankrupt crypto lender BlockFi is seeking to reopen some customer withdrawals after halting them following FTX's collapse
  + stars: | 2022-12-20 | by ( Carla Mozée | ) www.businessinsider.com   time to read: +2 min
BlockFi is seeking bankruptcy court approval to allow customers to withdraw cryptocurrencies from its BlockFi Wallet product. The crypto lender had paused all activity on its platform after the collapse of FTX. The filing does not specify seeking approval for withdrawals from its flagship BlockFi Interest Account. The platform aims to give clients access to their digital assets in its BlockFi Wallet product, according to a filing with the US Bankruptcy Court for the District of New Jersey. BlockFi sought bankruptcy protection as it had "significant exposure to FTX" and associated corporate entities.
☆ Federal prosecutors ask judge to postpone SEC case in alleged New Jersey deli stock fraud
  + stars: | 2022-12-09 | by ( Gabrielle Fonrouge | ) www.cnbc.com   time to read: +1 min
Federal prosecutors in New Jersey want the Securities and Exchange Commission to postpone its civil case against the alleged masterminds behind a $100 million fraud scheme involving a small-town deli so it won't get in the way of their ongoing criminal case. Prosecutors for the District of New Jersey filed a motion on Wednesday saying the SEC's case "substantially" overlaps with their ongoing criminal case and the civil matter should be postponed until the litigation, including a potential trial, is completed, court records show. Postponing the civil case would "preserve the integrity" of the ongoing prosecution by preventing the defendants from seeing the extent of the government's evidence against them, federal prosecutors argued in the filing. The SEC and the attorneys for the suspects consented to the request, which is common in such cases. A telephone conference is scheduled in the criminal case for Dec. 14, but it's expected to be mostly procedural and an opportunity for the prosecutors and defense attorneys to update the judge on the status of the litigation.
☆ Crypto firm BlockFi files for bankruptcy as FTX fallout spreads
  + stars: | 2022-11-28 | by ( Mackenzie Sigalos Lillian Rizzo Rohan Goswami | Mackenzie Sigalos | Lillian Rizzo | ) www.cnbc.com   time to read: +4 min
Distressed crypto firm BlockFi has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of New Jersey following the implosion of putative acquirer FTX. Like FTX, BlockFi also has a Bahamian subsidiary. BlockFi's bankruptcy filing shows that the company's largest disclosed client has a balance of nearly $28 million. The company started talking with restructuring professionals in the days after FTX's bankruptcy filing, according to people familiar with the matter. Approximately 130 additional affiliated companies are part of the proceedings, including Alameda Research, Bankman-Fried's crypto trading firm, and FTX.us, the company's U.S. subsidiary.
☆ New Jersey man charged with making online threat to attack a synagogue and Jewish people, authorities say
  + stars: | 2022-11-10 | by ( Antonio Planas | Antonio Planas Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com   time to read: +2 min
A New Jersey man who allegedly wrote an antisemitic diatribe and shared it online, prompting a public warning last week from the FBI, was arrested Thursday, federal officials said. Prosecutors said Alkattoul wrote in the document that “I am the attacker" and "I did target a synagogue." The threat prompted the FBI last Thursday to issue a public warning to New Jersey synagogues. “Upon receipt of threat information against an unspecified New Jersey area synagogue, the FBI notified community leaders and our law enforcement partners,” the FBI Newark said in a statement on Friday. Phil Murphy said in a statement Friday that while the specific threat may be mitigated, officials will remain vigilant amid a wave of antisemitism.
☆ A federal court ordered a New Jersey company and its co-managers to pay $712,000 to staff for deliberately denying overtime pay
  + stars: | 2022-02-11 | by ( Grace Dean | ) www.businessinsider.com   time to read: +3 min
A New Jersey company violated labor laws by not paying staff for the full hours they worked, the DOL said. The firm also failed to keep accurate records of staff hours and wages, the DOL said in a lawsuit. A federal court ordered the company and its co-managers to pay staff $712,000 in back wages and damages. Employees regularly worked between 45 and 54 hours a week, but the company didn't pay staff extra for overtime, the DOL said. The company paid staff in cash for overtime hours and told them not to clock out "to conceal the fact that employees worked more than forty hours a week," per the lawsuit.
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