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FTX co-founder Sam Bankman-Fried is escorted by corrections officers to the Magistrate's Court on December 21, 2022 in Nassau, Bahamas. Bankman-Fried, 30, was indicted in New York federal court on Dec. 9 and arrested three days later by Bahamas law enforcement at the request of U.S. prosecutors. Chaos ensued as reporters and attorneys for Bankman-Fried attempted to pin down whether the former crypto billionaire would be rendered back to the United States for arraignment in federal court. When Bankman-Fried lands in New York, the so-far atypical proceedings should take on a more familiar tenor. "But again, if arranged in advance with the magistrate in charge of the detention hearing, the court may allow a hearing before processing, but that is unlikely.

The bare-bones indictment against Bankman-Fried - which could be amended with more details and co-defendants as the case progresses - suggests prosecutors have a long road ahead piecing together what they have described as one of the biggest financial frauds in American history. “A trial is probably 14 to 18 months out,” said Michael Weinstein, a white-collar criminal defense lawyer and former federal prosecutor. On Tuesday, U.S. Attorney Damian Williams in Manhattan said a grand jury had indicted Bankman-Fried on wire fraud, securities fraud, commodities fraud, campaign finance law violations and conspiracy charges. The indictment came just weeks after Bankman-Fried's $32 billion crypto exchange collapsed - an extraordinarily fast turnaround for prosecutors. Bankman-Fried was arrested in the Bahamas on Monday but indicated he would fight extradition to the United States.

☆ Sam Bankman-Fried is in jail, but legal watchers are wondering: Where's ex-girlfriend Caroline Ellison?
▼ + stars: | 2022-12-16 | by ( Sindhu Sundar | Lakshmi Varanasi | ) www.businessinsider.com time to read: +6 min

Former Alameda CEO Caroline Ellison isn't named in prosecutors' charges against Sam Bankman-FriedBut the SEC's civil suit references her statements on the relationship between FTX and Alameda. Conspiracy charges and civil claims against SBF show others in the crosshairs, legal experts said. But her rise as CEO at Alameda, Bankman-Fried's other crypto company separate from FTX, may certainly put her in investigators' sights. The SEC's complaint on Tuesday claimed that Bankman-Fried "remained the ultimate decision-maker" at Alameda, even after Ellison took over the reins. Since Bankman-Fried's crypto empire began unraveling in November however, Ellison has stayed away from the public eye.

CNBC's Andrew Ross Sorkin reported that the charges against Bankman-Fried include wire fraud, wire fraud conspiracy, securities fraud, securities fraud conspiracy and money laundering. Neither the Attorney General of the Bahamas nor the Royal Bahamas Police Force would confirm the nature of the charges against Bankman-Fried. "I didn't ever try to commit fraud," Bankman-Fried said. The CFTC and lawmakers have begun their probes into FTX and Bankman-Fried, who told Sorkin he was down to his last $100,000. Failed lender BlockFi sued Bankman-Fried in November, seeking unnamed collateral that the FTX founder provided for the crypto lending firm.

Bankman-Fried could face a host of potential charges – civil and criminal – as well as private lawsuits from millions of FTX creditors, legal experts told CNBC. There are three different, possibly simultaneous legal threats that Bankman-Fried faces in the United States alone, Levin told CNBC. He told CNBC, "prosecutors would have to prove beyond a reasonable doubt that Bankman-Fried or his associates committed criminal fraud." (Carter was not an FTX investor, and told CNBC that his fund passed on early FTX rounds.) "People should not jump to the conclusion that something is not happening just because it has not been publicly disclosed," Levin told CNBC.

John Ray, chief executive officer of FTX Cryptocurrency Derivatives Exchange, arrives at bankruptcy court in Wilmington, Delaware, US, on Tuesday, Nov. 22, 2022. It could be one way for the DOJ to gather evidence of alleged fraud. In a filing in Delaware federal bankruptcy court, Andrew Vara, a U.S. bankruptcy trustee, told the court that the allegations of corporate misconduct and complete failure merited an immediate and speedy examination of the events leading up to FTX's stunning collapse three weeks ago. It's not unusual to appoint a bankruptcy examiner. There was one to oversee the crypto bankruptcy process of Celsius Network, for example.

☆ As Wall Street strikes a bearish tone, these global stocks with margin growth could be safe bets
▼ + stars: | 2022-11-30 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

After what has been a tumultuous year for stocks, many investors are hoping that markets are at a turning point. Defensive stocks ArcelorMittal , the world's largest steelmaker, made CNBC's screen. The stock is rated buy by nearly 60% of analysts covering it, who give it potential upside of 26.3%. The company is expected to grow its margin by 17.9% next year and analysts give it potential upside of 23.4%. Analysts give the stock potential upside of 34.8%.

☆ Goldman says stay defensive on stocks into next year, the bottom is not yet in
▼ + stars: | 2022-11-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The S & P 500 has fallen 15.5% this year. The Wall Street firm set its year-end 2023 target at 4,000 on the S & P 500, just below its Friday's close of 4,026.12. For stocks, Goldman advised clients to buy beneficiaries of slowing inflation and those companies with resilient margins, while avoiding unprofitable long-duration stocks. Goldman economists assigned a 35% probability of a recession in the U.S., but think any downturn would likely be mild. "Housing markets, Italian sovereign risk, cryptos, private markets and shadow banking are likely to remain a concern," Goldman said.

☆ Watch: Prosecutor explains what happens if Trump gets indicted
▼ + stars: | 2022-11-26 | by ( ) edition.cnn.com time to read: 1 min

Former federal prosecutor Renato Mariotti goes over what could happen if prosecutors indict former President Donald Trump and how it could affect his presidential campaign.

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