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NEW YORK, March 28 (Reuters) - U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of now-bankrupt FTX cryptocurrency exchange of conspiring to pay a $40 million bribe to Chinese government officials. The indictment said Bankman-Fried ordered the $40 million cryptocurrency payment to a private wallet from Alameda's main trading account, to persuade Chinese authorities to unfreeze Alameda accounts with more than $1 billion of cryptocurrency. Prosecutors said the Alameda accounts had been frozen as part of an investigation into an unnamed Alameda counterparty. They also said Bankman-Fried later authorized a transfer of tens of millions of dollars of cryptocurrency to "complete" the bribe. Under the new conditions, Bankman-Fried would be barred from using electronics except for a phone with no internet capability and a basic laptop with limited functions.

☆ Sam Bankman-Fried tried to bribe Chinese officials with at least $40 million, prosecutors say in a new charge
▼ + stars: | 2023-03-28 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +1 min

Sam Bankman-Fried was hit with a new bribery conspiracy charge, according to an indictment unsealed Tuesday. He spent $40 million or more in crypto to "influence" Chinese officials, prosecutors said. He’s previously pleaded not guilty to the DOJ’s original charges. Prosecutors have accused Bankman-Fried of spending "at least" $40 million in crypto on "at least one or more Chinese government officials in order to influence them," according to an updated indictment unsealed on Tuesday. In January, Bankman-Fried previously pleaded not guilty to the original 8-count indictment that prosecutors had filed back in December.

The CFTC sued Binance, Zhao and its former top compliance executive with "willful evasion" of U.S. law, "while engaging in a calculated strategy of regulatory arbitrage to their commercial benefit." "Upon an initial review, the complaint appears to contain an incomplete recitation of facts, and we do not agree with the characterization of many of the issues alleged in the complaint," Zhao said in a statement. Firms such as brokers that facilitate U.S. customers' trading of such products are required to register with the agency. 'PIRATE SHIP'Founded in Shanghai in 2017, Binance sits at the heart of the global crypto industry. With a holding company based in the Cayman Islands, Binance has never revealed the location of its core exchange.

☆ US lawmaker says FBI briefed him on Trump's rhetoric over New York probe
▼ + stars: | 2023-03-26 | by ( Kanishka Singh | ) www.reuters.com time to read: +3 min

Senator Mark Warner said on Sunday he was briefed by the FBI on Donald Trump's rhetoric after the former president verbally lashed out at a New York prosecutor overseeing a grand jury investigation into alleged hush-money payments. "They have seen no specific threats but the level of rhetoric on some of these right-wing sites has increased." Trump's lawyer, Joseph Tacopina, said on Sunday that some of Trump's online attacks against Bragg were ill-advised. "I'm not his social media consultant. New York City Mayor Eric Adams also said on Sunday the city was prepared for any fallout from a potential Trump indictment.

[1/3] Theranos founder Elizabeth Holmes arrives to attend her fraud trial at federal court in San Jose, California, U.S., December 16, 2021. REUTERS/Peter DaSilva/File PhotoNEW YORK, March 23 (Reuters) - A key prosecution witness whose testimony helped convict Theranos founder Elizabeth Holmes of fraud sued Walt Disney Co (DIS.N) on Thursday over a recent Hulu miniseries that he says defamed him by portraying him as corrupt. Rosendorff said the character, Mark Roessler, covered up Theranos' fraud by ordering the destruction of damaging lab results, falsifying records and engaging in other dishonest and unethical conduct. "At the time of the trial, (Rosendorff) was considered a heroic whistle-blower, a witness who was instrumental in the jury’s verdict convicting Holmes," the filing said. The case is Rosendorff v Hulu LLC et al, New York State Supreme Court, New York County, No.

☆ Grand Jury Weighing Donald Trump Hush-Money Payment Scheduled to Return Thursday
▼ + stars: | 2023-03-23 | by ( Corinne Ramey | ) www.wsj.com time to read: 1 min

A Manhattan grand jury considering Donald Trump’s role in paying hush money to a porn star is scheduled to meet Thursday, according to people familiar with the matter, in what will likely be the panel’s last day of deliberations this week as it moves closer to a potential indictment of the former president. The return of grand jurors comes after a scheduled meeting Wednesday was called off by the office of Manhattan District Attorney Alvin Bragg , which is presenting evidence that could lay the groundwork for charges against Mr. Trump. Prosecutors on Thursday could call an additional witness or present formal charges to the jurors before asking that they vote to issue them.

☆ Trump's legal troubles are threatening to upend the 2024 GOP race, and he's not even charged
▼ + stars: | 2023-03-22 | by ( Kimberly Leonard | Oma Seddiq | ) www.businessinsider.com time to read: +14 min

Former President Donald Trump faces possible criminal charges as he's running for president. "If it's a circus, there's only one ringmaster and that's Trump," said GOP pollster B.J. Operatives thinking of ways to land punches on Trump say GOP primary candidates could argue that he would lose the general election because of his legal troubles. Political insiders widely concede that a potential indictment — and how Trump responds — could still backfire on GOP challengers and strengthen Trump. While the circumstances surrounding the 2024 primary are uncharted territory, polling shows a cohort of GOP voters has grown weary of Trump and is seeking an alternative.

March 21 (Reuters) - Virginia sheriff deputies and medical staffers wrestled with a handcuffed Irvo Otieno, a 28-year-old Black man, for several minutes at a state mental hospital before he died, video surveillance shows. Police have arrested and charged three former employees of the mental health hospital and seven sheriffs deputies of Henrico County, Virginia, with second-degree murder in Otieno's death. Most of the deputies and hospital employees involved in the case are also Black. The video, a download link of which was made available in court documents, shows about six officers carrying Otieno into a room. At times as many as 10 deputies and hospital workers held him down while his legs were shackled and his arms were held behind his back.

On Monday, grand jurors heard more than two hours of testimony from Robert Costello, an attorney for Trump ally Rudy Giuliani. Instead, Cohen waited outside the grand jury room Monday, at the ready should he be called before the grand jury again to challenge Costello's testimony, Davis said. The grand jury would still need to be "charged," the process when prosecutors explain the potential indictment count by count. Following the charge, the grand jurors would deliberate and vote. Grand jurors frequently accomplish these tasks quickly, according to former Manhattan prosecutor John Moscow, who handled hundreds of white-collar criminal cases before going into private practice.

☆ DeSantis breaks his silence on the 'manufactured circus' around expected Trump indictment: 'I don't know what goes into paying hush money to a porn star'
▼ + stars: | 2023-03-20 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +6 min

Ron DeSantis of Florida has ended his silence on former President Donald Trump's expected indictment by a Manhattan grand jury. Amid criticism from Trump and his campaign, DeSantis generally has stayed away from hitting Trump directly. "I don't know what goes into paying hush money to a porn star to secure silence over some type of alleged affair. The Trump campaign hit DeSantis over the weekend when he failed to issue a statement as news swirled predicting Trump's expected indictment this week. You're not fooling anyone," tweeted Liz Harrington, Trump campaign spokeswoman, referring to DeSantis' promotion of his new book, "The Courage to be Free."

[1/2] CEO Ralph Hamers of Swiss bank UBS addresses the Annual Meeting of Swiss Financial Institute (SFI) in Zurich, Switzerland November 10, 2022. Hamers, with no big-ticket M&A experience under his belt, has cut his teeth reshaping a major Dutch lender mostly by selling businesses. Reuters Graphics Reuters GraphicsA nearly 30-year veteran of Dutch lender ING - he married a former colleague from the bank - Hamers was a surprise choice when he was appointed in early 2020 to lead UBS. UBS declined to comment on the matter on Monday but the bank said at the time that it had "full confidence" in Hamers. Former Unilever CEO and fellow Dutchman Paul Polman gave a Hamers a vote of confidence on Monday, telling Reuters that "Hamers is a purposeful leader certainly well prepared to lead Swiss banking through these challenging times."

A Manhattan grand jury weighing evidence for a possible Donald Trump "hush-money" indictment. Here's a timeline of Trump and Daniels' alleged relationship, the $130,000 payment to keep Daniels silent, and the testimonies leading to a possible indictment. Markus Schreiber/APManhattan District Attorney Alvin Bragg convened a grand jury in mid-January of this year to consider an indictment against Trump. And Trump's former fixer and lawyer Michael Cohen, prosecutors' key witness, has made repeated visits to the DA's office and to the grand jury. What could happen nextThe final witnesses were scheduled to testify before the grand jury on March 20, though it is unclear when the panel may vote.

☆ America’s Political Divide Over Jan. 6 Reaches Into FBI
▼ + stars: | 2023-03-19 | by ( Aruna Viswanatha | Sadie Gurman | ) www.wsj.com time to read: 1 min

WASHINGTON—The U.S. government’s sweep-up of Jan. 6 suspects has led to conflict within the Federal Bureau of Investigation over the agency’s expansive efforts to pursue charges against more than 1,000 people, according to a review of testimony by three former or suspended bureau employees before a House committee and other people familiar with the matter. The investigation into a pro-Trump mob’s Jan. 6, 2021, assault on the Capitol, two weeks before President Biden’s inauguration, is the largest in FBI history in terms of the number of cases and national reach. Prosecutors have said they may indict another thousand people in addition to those already charged. Led by agents in Washington, all 56 field offices were enlisted to help trace the rioters in the months after the attack.

☆ Lawsuit claims Elizabeth Holmes owes more than $25 million to Theranos creditors, report says
▼ + stars: | 2023-03-18 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elizabeth Holmes owes creditors of her failed startup Theranos more than $25 million, CNBC reported. It emerged as Holmes appeared in court Friday seeking to delay her date to report to prison. According to the report, Holmes made three written promises to repay creditors while she was still CEO. The lawsuit came to light after Holmes was approached in court in San Jose, California on Friday, CNBC reported. Prosecutors are seeking restitution of almost $900 million for investors in Theranos, per The AP.

☆ Sam Bankman-Fried, U.S. prosecutors near new bail agreement
▼ + stars: | 2023-03-18 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

NEW YORK, March 17 (Reuters) - Lawyers for Sam Bankman-Fried are nearing an agreement with U.S. prosecutors on revised bail conditions for the indicted FTX cryptocurrency exchange founder, who is trying to convince a skeptical judge he should remain free. Bankman-Fried's lawyers have said their client was trying to help, not interfere. At the March 10 hearing, prosecutors and defense lawyers proposed giving Bankman-Fried a flip phone with no internet capability and a basic laptop with limited functions. In Friday's letter, Everdell also sought the judge's permission to let Bankman-Fried in the meantime use a laptop to access some FTX materials. The case is U.S. v. Bankman-Fried, U.S. District Court, Southern District of New York, No.

☆ Democratic lawmakers urge US to probe Goldman's role in SVB collapse
▼ + stars: | 2023-03-17 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

"(We) wish to raise our concerns over the role of Goldman Sachs Group in advising SVB and in the purchase of its bond portfolio," the letter said. Californian regulators shuttered Silicon Valley Bank last Friday and appointed FDIC as receiver. U.S. prosecutors are investigating the SVB collapse, a source familiar with the matter told Reuters this week. Goldman Sachs did not immediately respond to a request for comment on the letter by lawmakers. Financial stocks have lost over billions of dollars in value since Silicon Valley Bank and Signature Bank (SBNY.O) collapsed last week.

☆ Missteps by Ericsson and Its Lawyers Led to New Sanctions Against Company
▼ + stars: | 2023-03-17 | by ( Dylan Tokar | ) www.wsj.com time to read: +1 min

Ericsson agreed to a $206.7 million settlement with the Justice Department after the agency found that the company had breached an earlier agreement. A court filing by federal prosecutors earlier this month lays out details about a series of alleged missteps that led Ericsson SA to agree to pay $207 million in fines. Prosecutors highlighted in particular how failures by the Swedish telecommunication company’s outside lawyers contributed to their decision to seek the new penalties. The Justice Department in early March said it would take the rare step of tearing up a $1 billion settlement that Ericsson entered into in 2019 to resolve bribery offenses in China, Djibouti and three other countries. In a filing explaining how Ericsson allegedly breached the agreement, prosecutors attributed specific missteps to Ericsson’s outside legal counsel, including lawyers at firms Simpson Thacher & Bartlett and Freeh Sporkin & Sullivan.

☆ Elizabeth Holmes owes over $25 million to Theranos, lawsuit says
▼ + stars: | 2023-03-17 | by ( Yasmin Khorram | ) www.cnbc.com time to read: +3 min

Former Theranos CEO Elizabeth Holmes (C) arrives at federal court with her mother Noel Holmes (L) and father Christian Holmes on September 01, 2022 in San Jose, California. Elizabeth Holmes hasn't paid back over $25 million to creditors of her former Theranos company as she tries to delay her 11-year prison sentence, according to a lawsuit. According to the breach of contract suit, Holmes executed three promissory notes while she was CEO of the failed blood-testing company. The promissory notes were as follows, according to the lawsuit:August 2011 in the amount of $9,159,333.65. Holmes founded Theranos in 2003 after dropping out of Stanford, with the promise of revolutionizing the healthcare industry.

☆ Atlanta DA Fani Willis loves using a law designed for going after the mob. She may use it to charge Trump.
▼ + stars: | 2023-03-16 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +9 min

The law — designed for going after the mob — makes sense for her investigation into Donald Trump, experts say. In her time in the district attorney's office, Willis has aggressively used Georgia's Racketeer Influenced and Corrupt Organization statute. One sprawling 56-count RICO case, against the rapper Young Thug's alleged gang, is in its second month of jury selection ahead of what's expected to be a nine-month trial. But if she were to bring a case, experts believe RICO charges are likely. Rahmani cautioned that a RICO case may make Willis look too aggressive.

☆ Guo Wengui Charged in Alleged $1 Billion Fraud Conspiracy
▼ + stars: | 2023-03-15 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

Guo Wengui , a former real-estate developer, has said he fled China in 2014 after hearing that a state security official to whom he was close would soon be arrested. Federal prosecutors in Manhattan have charged exiled Chinese businessman Guo Wengui with duping investors out of hundreds of millions of dollars to bankroll the purchase of a sprawling mansion, a 145-foot luxury yacht and other lavish items. Mr. Guo, also known as Kwok Ho Wan, was arrested Wednesday morning in New York and is charged with 11 counts of fraud and money laundering, according to an indictment unsealed Wednesday in New York federal court. Prosecutors said he orchestrated a $1 billion scheme that preyed on hundreds of thousands of his online followers to purchase stock in his media company, fund a farm loan program and join a luxury-services club.

Former real-estate developer Guo Wengui has said he fled China in 2014 after hearing that a state security official to whom he was close would be arrested. Chinese businessman Guo Wengui , who gained attention by lobbing corruption allegations at Beijing from a Manhattan penthouse and later launched a media company with Trump confidant Steve Bannon , was arrested Wednesday and accused of orchestrating a $1 billion fraud. Mr. Guo took advantage of the hundreds of thousands of followers he amassed online, prosecutors alleged, by soliciting investments in his cryptocurrency, media and other companies. Instead, he used the money to buy a $26 million home in New Jersey, a yacht, a Ferrari and a $36,000 mattress, among other items, said the indictment, which charged Mr. Guo with 11 counts of fraud and money laundering. Prosecutors said they seized $634 million in criminal proceeds and assets that included a Lamborghini.

☆ Signature Bank faced criminal probe ahead of its collapse - Bloomberg News
▼ + stars: | 2023-03-15 | by ( ) www.reuters.com time to read: +1 min

March 14 (Reuters) - U.S. prosecutors were investigating Signature Bank's (SBNY.O) association with crypto clients before regulators suddenly seized the lender last weekend, Bloomberg News reported on Tuesday, citing people familiar with the matter. The report comes after New York's financial regulator earlier in the day said its decision to close Signature Bank had "nothing to do with crypto", but was spurred by what it called "a significant crisis of confidence in the bank's leadership" after the collapse of Silicon Valley Bank. The SEC, Justice Department and Signature Bank didn't immediately respond to Reuters' request for comments. State regulators closed New York-based Signature Bank on Sunday, the third largest failure in the U.S. banking history, and two days after authorities shuttered Silicon Valley Bank (SVB) in a collapse that stranded billions in deposits. As of September last year, almost a quarter of Signature Bank's deposits came from the cryptocurrency sector, but the bank announced in December last year that it would shrink its crypto-related deposits by $8 billion.

☆ Autonomy founder Lynch fights extradition to US on fraud charges
▼ + stars: | 2023-03-15 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

LONDON, March 15 (Reuters) - Tech entrepreneur Mike Lynch asked a London court to block his extradition to the United States to face criminal charges over Hewlett Packard's $11 billion acquisition of his software company Autonomy, arguing he should be prosecuted in Britain. Lynch – the co-founder of Autonomy, who was once hailed as Britain's answer to Bill Gates – faces 17 charges over the 2011 takeover, which was one of Britain's biggest tech deals. Britain's interior ministry on the same day ordered Lynch's extradition to the United States. Bailin also gave updated details of HP's civil lawsuit against Lynch and Hussain, who was jailed in a San Francisco court for five years in 2019. Lynch intends to apply for permission to appeal against the ruling on HP's lawsuit, Bailin said in court filings.

☆ U.S. prosecutors probing collapse of Silicon Valley Bank -source
▼ + stars: | 2023-03-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Al Drago/File PhotoMarch 14 (Reuters) - U.S. prosecutors are investigating the collapse of Silicon Valley Bank, according to a source familiar with the matter, as scrutiny mounts over the firm's sudden collapse and regulators scramble to contain the fallout. The U.S. Justice Department is probing the sudden demise of the bank, which was shuttered on Friday following a bank run, the source said, declining to be named as the inquiry is not public. Spokespeople for the SEC, SVB and the Justice Department declined to comment. The rapid demise of Silicon Valley Bank and the fall of Signature Bank have left regulators racing to contain risks to the rest of the sector. SVB Financial Group and two top executives were sued this week by shareholders, who accused them of concealing how rising interest rates would leave its Silicon Valley Bank unit susceptible to a bank run.

☆ Justice Department, SEC Investigating Silicon Valley Bank’s Collapse
▼ + stars: | 2023-03-14 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

Securities filings show that two top Silicon Valley Bank executives sold shares in the company the week before it collapsed. WASHINGTON—The Justice Department and the Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, according to people familiar with the matter, after the California lender was taken over by regulators last week amid a historic run on its deposits. The separate probes are in their preliminary phases and may not lead to charges or allegations of wrongdoing. Prosecutors and regulators often open investigations after financial institutions or public companies suffer big, unexpected losses. Shares in SVB Financial Group , which formerly owned the bank, fell 60% last week and have been stopped from trading since Friday.

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