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☆ SBF's lawyers shouldn't be allowed to use his $500 million investment in AI firm Anthropic — which could used to pay back FTX customers — as evidence, prosecutors say
▼ + stars: | 2023-10-09 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Anthropic looks set to be valued at $30 billion as it is in talks with Google for further investment. Prosecutors argue that the investment can't be used as evidence in Bankman-Fried's favor. AdvertisementAdvertisementProsecutors have asked the judge overseeing Sam Bankman-Fried's trial to stop the FTX founder's lawyers from referencing his $500 million investment in Anthropic. AdvertisementAdvertisementThat means Bankman-Fried's investment could be a major help in reimbursing the thousands of FTX customers who lost their money as the crypto exchange imploded last November. AdvertisementAdvertisementMichael Lewis, who interviewed Bankman-Fried more than 100 times for his biography, wrote that other FTX executives didn't approve of the Anthropic investment.

Persons: FTX, —, Sam Bankman, Lewis Kaplan, Damian Williams, Anthropic, Williams, Fried, Gary Wang, Michael Lewis, Bankman, didn't, Ramnik Arora, Lewis, Sam Organizations: Google, Prosecutors, Service, Amazon Locations: Anthropic, Bankman, Alameda

☆ Sam Bankman-Fried's fraud trial: How Judge Lewis Kaplan has presided in FTX case
▼ + stars: | 2023-10-09 | 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

[1/2] U.S. District Judge Lewis Kaplan presides over the fraud trial of Sam Bankman-Fried over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 3, 2023 in this courtroom sketch. Last year, he presided over a civil trial in which the actor Kevin Spacey defeated a sexual abuse claim. When one prospective juror said they did not understand how cryptocurrency works, Kaplan said, "You probably have a lot of company in this courtroom." Several times during the first three days of testimony, Kaplan urged defense lawyers to move more quickly as they asked prosecution witnesses questions he deemed repetitive. Before the trial began, Kaplan issued several key rulings against the defense, including excluding some of their proposed expert witnesses and barring them from making certain arguments at trial.

Persons: District Judge Lewis Kaplan, Sam Bankman, Jane Rosenberg, District Judge Lewis, levity, Kaplan, Fried, Bill Clinton, Donald Trump, Jean Carroll, Kevin Spacey, Tom Brady, David Lisner, Matt Huang, You've, Caroline Ellison's, Luc Cohen, Amy Stevens, Lisa Shumaker Organizations: U.S, District, Federal Court, REUTERS, Harvard Law School, New, Thomson Locations: FTX, New York City, U.S, Manhattan, Staten, New York

"Assets were not fine, because FTX did not have enough assets for customer withdrawals." On Friday, Wang testified that on Nov. 6, 2022, FTX executive Nishad Singh knocked on his door and told him customers were trying to withdraw their money faster than FTX could process the transactions. He said no other FTX users had those special privileges, which the exchange did not disclose to its investors or customers. After FTX declared bankruptcy on Nov. 11, 2022, Wang testified that at Bankman-Fried's direction, he turned over some remaining FTX customer assets to the Bahamas, where FTX was based. Wang said Bankman-Fried said liquidators and regulators there were more amenable to letting him stay in charge of FTX.

Persons: Sam Bankman, Fried, Nicolas Roos, Gary Wang, Jane Rosenberg, FTX, Wang, FTX's, Nishad Singh, CoinDesk, Bankman, WANG, District Judge Lewis Kaplan, Christian Everdell, Caroline Ellison, Alameda's, Mark Cohen, Sam, Jody Godoy, Luc Cohen, David Gregorio, Nick Zieminski, Matthew Lewis Organizations: U.S, Federal Court, REUTERS, Alameda Research, Washington , D.C, District, Bankman, Thomson Locations: FTX, New York City, U.S, Manhattan, Washington ,, Alameda, Bahamas, Fried, United States, New York

☆ 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

[1/2] Indicted FTX founder Sam Bankman-Fried arrives at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 4 (Reuters) - The jury for Sam Bankman-Fried's trial on charges of stealing billions of dollars from customers of his now-bankrupt FTX cryptocurrency exchange was selected on Wednesday, paving the way for opening statements to start soon. Prosecutors and the defense are expected to lay out their cases shortly in opening statements. They are expected to call three former members of Bankman-Fried's inner circle - former Alameda chief executive Caroline Ellison and former FTX executives Nishad Singh and Gary Wang - to testify against him. Reporting by Luc Cohen in New York Editing by Amy Stevens, Matthew Lewis and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, Amr Alfiky, FTX, District Judge Lewis Kaplan, Joseph Bankman, Barbara Fried, Gabriel Bankman, Donald Trump, Anthony Scaramucci, Caroline Ellison, Nishad Singh, Gary Wang, Kaplan, Ellison, Luc Cohen, Amy Stevens, Matthew Lewis, Nick Zieminski Organizations: FTX, United, REUTERS, District, Wednesday, Stanford Business School, North Railroad, Prosecutors, Stanford Law, U.S, Alameda Research, Alameda, Metropolitan Detention, Thomson Locations: New York City, U.S, York, Manhattan, Brooklyn, New York

☆ Sam Bankman-Fried's trial to resume with jury selection, opening statements
▼ + stars: | 2023-10-04 | 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: +2 min

Indicted FTX founder Sam Bankman-Fried arrives at the United States Courthouse in New York City, U.S., July 26, 2023. REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Oct 4 (Reuters) - Sam Bankman-Fried's trial on charges of stealing billions of dollars from customers of his now-bankrupt FTX cryptocurrency exchange is set to resume on Wednesday, with the judge aiming to finish selecting a jury and move on to opening statements. That would pave the way for prosecutors and the defense to proceed to opening statements, in which each side would lay out their case. Bankman-Fried has pleaded not guilty and is likely to argue that while he failed to adequately manage risk, he did not steal money. Reuters GraphicsReporting by Luc Cohen in New York Editing by Amy Stevens and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, Amr Alfiky, FTX, District Judge Lewis Kaplan, Caroline Ellison, Nishad Singh, Gary Wang, Kaplan, Ellison, Luc Cohen, Amy Stevens, Matthew Lewis Organizations: United, REUTERS, District, Prosecutors, U.S, Alameda Research, Alameda, Metropolitan Detention, Thomson Locations: New York City, U.S, Manhattan, Brooklyn, New York

☆ Sam Bankman-Fried's old penthouse roommate insisted on immunity before testifying because he feared he unwittingly facilitated a crime
▼ + stars: | 2023-10-04 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +5 min

Yedidia insisted on immunity to testify because he was worried he may have facilitated a crime. AdvertisementAdvertisementBefore Adam Yedidia could testify against Sam Bankman-Fried at the FTX cofounder's criminal trial, he needed reassurances. AdvertisementAdvertisementThis courtroom sketch shows Adam Yedidia, former FTX and Alameda Research employee and former friend of Sam Bankman-Fried, testifying, Wednesday, Oct. 4, 2023. In 2017, he worked at Alameda Research for two months as a trader before leaving to pursue a PhD. Yedidia said he lived in a $35 million penthouse apartment in the Bahamas, which he said Alameda Research purchased at Bankman-Fried's direction.

Persons: Sam Bankman, Adam Yedidia, Yedidia, —, Fried, Elizabeth Williams, Lewis Kaplan, who's, Caroline Ellison, Gary Wang, Prosecutors, Wang, Yedida Organizations: Service, Prosecutors, Alameda Research, AP, MIT Locations: Alameda, Manhattan, FTX, Bankman, Bahamas

REUTERS/Jane Rosenberg Acquire Licensing RightsCompanies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's father and brother, as well as Donald Trump's former spokesman Anthony Scaramucci, are among possible witnesses at the cryptocurrency exchange founder's fraud trial, according to a list read by a prosecutor in court on Tuesday. There is no guarantee that Scaramucci, Bankman-Fried's father Joseph Bankman or his brother Gabriel Bankman-Fried will testify during the trial, which is expected to last six weeks and kicked off on Tuesday with jury selection. Prosecutor Danielle Sassoon read the list of dozens of names - which included both proposed prosecution and defense witnesses - to see if any prospective jurors knew them. Scaramucci's alternative investment firm SkyBridge Capital once owned a stake in FTX, Bankman-Fried's cryptocurrency exchange which declared bankruptcy in November 2022 amid a flurry of customer withdrawals. The now-bankrupt fund is fully owned by Bankman-Fried and former FTX executive Gary Wang, court filings show.

Persons: Sam Bankman, Fried, Christian Everdell, Jane Rosenberg, Donald Trump's, Anthony Scaramucci, Joseph Bankman, Gabriel Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Bankman, Kaplan, Gary Wang, Nicolas Roos, Caroline Ellison, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: Federal Court, REUTERS, SkyBridge, Alameda Research, District, Insight Partners, Bankman, Manhattan U.S, Thomson Locations: FTX, New York City, U.S, Alameda, Alameda ., New York

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins today. Here's everything you need to know.
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court today. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

Persons: Sam Bankman, SBF, —, FTX, Fried, Tom Brady, Gisele Bündchen, Stephen Curry, Naomi Osaka, Larry David, Kevin O'Leary, Caroline Ellison, He's, Michael Lewis, guarantors, Lewis Kaplan, Jane Rosenberg, Kaplan, Bankman, Ellison, messaged, Eduardo Munoz, Mark S, Cohen, Christian Everdell, Ghislaine Maxwell, Maxwell, They're, Danielle Sassoon, Nicholas Roos, who's, Joe Lewis, Jean Carroll, Donald Trump, Trump, Bill Clinton, Gambino, Prince Andrew, Mary Altaffer, SBF's, Joseph Bankman, Barbara Fried, Gary Wang —, Nishad Singh, Ryan Salame, Cohen wearily, there's Organizations: Prosecutors, Service, Alameda Research, Miami Heat's, The New York Times, Metropolitan Detention, US, Office, Southern, Bankman, Manhattan Federal Court, REUTERS, Washington , D.C, Supreme, AP, Securities, Exchange Commission, Stanford University Locations: FTX, Manhattan, America, Palo Alto , California, New York, Bahamas, Washington ,, Joaquín, Bankman, Guantanamo, Alameda

☆ Sam Bankman-Fried trial: Potential juror dismissed after saying he can't be unbiased given 'everything negative' he heard about crypto
▼ + stars: | 2023-10-03 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +3 min

One prospective juror said he couldn't be objective given "everything negative" he's heard of crypto. AdvertisementAdvertisementCryptocurrency itself isn't on trial, but strong feelings about the virtual currency may be shaping Sam Bankman-Fried's criminal trial. He told prospective jurors earlier in the day that he expected to conclude the selection process by Wednesday morning, before opening statements. AdvertisementAdvertisementFamiliarity with cryptocurrency, the dramatic collapse of FTX, or Bankman-Fried's case specifically isn't necessarily disqualifying to be a juror. One prospective juror said she would have a problem rendering a guilty verdict if Bankman-Fried faced the death penalty.

Persons: Sam Bankman, He's, he's, —, I'm, Lewis Kaplan, cryptocurrency, Kaplan, Bankman, Fried, — Kaplan, they'd, Kaplan didn't Organizations: Service, US, Prosecutors, Alameda Research, Insight Partners Locations: Manhattan, FTX, Alameda

☆ A fresh haircut and ready for court: Day one of Sam Bankman-Fried's criminal trial
▼ + stars: | 2023-10-03 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

Journalists stood alongside dozens of New York residents clutching jury summonses as they queued in two different security lines. The day started slowly, as the jury selection process didn't get going until nearly 11 A.M. with a break for lunch before 12:30 P.M. Kaplan told Bankman-Fried to rise in court in order to indicate his desire to take the stand in his own defense. The first step in the six-week trial is assembling a 12-person jury, plus a few alternates. District Judge Kaplan instructed the court that he would be asking all of the questions, though the list had been drafted with feedback from lawyers on both sides.

Persons: Sam Bankman, Fried, he's, FTX, District Judge Lewis Kaplan, Lewis Kaplan —, Kaplan, —, Bankman, Caroline Ellison, Gary Wang, Ellison, Wang, Judge Kaplan, Joe Rogan, Dawn Giel Organizations: District, Federal Court, Southern, of, MIT, Alameda Research, U.S, Insight Partners Locations: New York, Brooklyn, FTX, New York City, U.S, York, Manhattan, Alameda, Maui

Companies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's fraud trial got under way with jury selection on Tuesday, nearly a year after his now-bankrupt cryptocurrency exchange's collapse shocked markets and tattered his reputation. He was dressed in a suit and tie, with his once signature curly, unkempt hair cut into a neater trim. Bankman-Fried's is the highest profile case U.S. prosecutors have so far brought against a former cryptocurrency executive. Prosecutors say Bankman-Fried built that reputation on lies and bolstered it with endorsements from celebrities and star athletes. He will be brought to court early on most days to allow him to prepare with his lawyers.

Persons: Sam Bankman, District Judge Lewis Kaplan, Kaplan, Bankman, Fried, Nicolas Roos, Mark Cohen, Caroline Ellison, Gary Wang, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: District, Alameda Research, Manhattan U.S, Prosecutors, Thomson Locations: Manhattan, FTX, Alameda, New York

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsOct 3 (Reuters) - Sam Bankman-Fried's fraud trial, which is set to kick off on Tuesday, marks the culmination of a yearlong legal saga stemming from the dramatic collapse of the FTX cryptocurrency exchange he founded. Below is a timeline of key events leading up to the 31-year-old former billionaire's trial. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Alameda gives crypto lender Voyager Digital a $200 million credit facility, and FTX gives lender BlockFi a $250 million loan. In a post-arrest blog post, Bankman-Fried denies stealing funds and blames FTX's collapse on a broader downturn in crypto markets.

Persons: Sam Bankman, Eduardo Munoz, Gary Wang, Larry David, Fried, CoinDesk, Binance, FTX, Changpeng Zhao, David, Tom Brady, Wang, Caroline Ellison, District Judge Lewis Kaplan, Nishad Singh, Kaplan revokes, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: REUTERS, Massachusetts Institute of Technology, Jane Street Capital, Alameda Research, Google, Forbes, Alameda, NFL, DEC, U.S, District, New York Times, Metropolitan Detention Center, Thomson Locations: New York, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California

Law Firms Michael R. Becker FollowNEW YORK, Oct 2 (Reuters) - Sam Bankman-Fried will likely defend himself at his fraud trial, due to begin on Tuesday, by arguing he did not think the use by his FTX cryptocurrency exchange of customer funds was improper and by challenging the credibility of those who say otherwise. He has long acknowledged failing to manage risk at FTX, but denied prosecutors' claims he stole billions of dollars in FTX customer deposits to plug Alameda's losses. In September court papers, Bankman-Fried's lawyers said he had a "good faith belief" that the manner in which FTX and Alameda handled customer funds was permissible. Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Prosecutors are seeking to play jurors a recording of an Alameda meeting in which Ellison told colleagues that Bankman-Fried approved the use of customer funds.

Persons: Michael R, Becker, Sam Bankman, Fried, FTX, Alameda, Jordan Estes, Estes, Kramer Levin, Eduardo Munoz, District Judge Lewis Kaplan, Caroline Ellison, Gary Wang, Nishad Singh, Tim Howard, Freshfields, Ellison, Wang, Kaplan, Luc Cohen, Amy Stevens, Daniel Wallis Organizations: Alameda Research, New York Times, REUTERS, U.S, Attorney's, District, Alameda, Prosecutors, Thomson Locations: Brooklyn, Bankman, FTX, Alameda, New York, U.S, Manhattan

☆ Sam Bankman-Fried case: The FTX criminal fraud trial begins this week. Here's everything you need to know.
▼ + stars: | 2023-10-02 | by ( Jacob Shamsian | Katie Balevic | ) www.businessinsider.com time to read: +13 min

Sam Bankman-Fried's criminal fraud trial begins in federal court on Tuesday. According to prosecutors, Bankman-Fried commingled funds between FTX, where he was CEO, and Alameda Research, a hedge fund he also controlled. In the months since, prosecutors have brought several superseding indictments, slapping on more criminal charges. AP Photo/Mary AltafferIn addition to the criminal case against Bankman-Fried, the fallout of FTX's collapse has created a fountain of complicated lawsuits and legal maneuvers. The Securities and Exchange Commission has a civil case against Bankman-Fried alleging he "orchestrated a massive, years-long fraud."

☆ A judge gave permission for Sam Bankman-Fried's lawyers to give him suits, ties, and 'appropriate undergarments' to wear at his trial
▼ + stars: | 2023-09-28 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A judge approved a request for Sam Bankman-Fried to wear business attire in court. Judges often allow jailed inmates to wear suits to avoid possible juror bias if they wore prison uniform. AdvertisementAdvertisementThe judge overseeing the trial of Sam Bankman-Fried approved a request on Wednesday for the FTX founder to wear business attire in court. Now behind bars at the Metropolitan Detention Center, his lawyers submitted a proposed order on Tuesday which asked Kaplan to allow Bankman-Fried to wear "business attire clothing." Judges often let jailed inmates wear business attire in court, because wearing a prison uniform could prejudice the jury.

Persons: Sam Bankman, —, Fried, Lewis Kaplan, Bankman, Kaplan, Fatih Aktas, YUKI IWAMURA, Tony Blair, Bill Clinton, Blair, Anthony Scaramucci, Scaramucci Organizations: Service, Metropolitan Detention Center, US Marshals Service, MDC, Anadolu Agency, Getty, British, Forbes, SkyBridge Locations: Bahamas, Manhattan, AFP, Rome

☆ Bankman-Fried may face 'very long sentence' if convicted, judge says
▼ + stars: | 2023-09-28 | 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: +3 min

REUTERS/Eduardo Munoz/File Photo Acquire Licensing RightsNEW YORK, Sept 28 (Reuters) - Sam Bankman-Fried, the indicted founder of now-bankrupt cryptocurrency exchange FTX, may face a "very long sentence" if convicted at his fraud trial starting next week, the judge overseeing the case said on Thursday. Kaplan said Bankman-Fried was a flight risk. "Your client in the event of conviction could be looking at a very long sentence," Kaplan said in a hearing in Manhattan federal court. Bankman-Fried has pleaded not guilty to seven counts of fraud and conspiracy stemming from FTX's collapse in November 2022. Prosecutors say Bankman-Fried stole billions of dollars in FTX customer deposits to plug losses at Alameda Research, a crypto-focused hedge fund he controlled.

Persons: Sam Bankman, Eduardo Munoz, District Judge Lewis Kaplan's, Kaplan, Bankman, Fried, Mark Cohen, FTX, Danielle Kudla, Palo, Caroline Ellison's, Ellison, Gary Wang, Nishad Singh, Luc Cohen, Nick Zieminski Organizations: REUTERS, U.S, District, Metropolitan Detention, Prosecutors, Alameda Research, Alameda, New York Times, Thomson Locations: New York, U.S, Manhattan, Bahamas, United States, Brooklyn, Palo Alto , California

☆ Who is Sam Bankman-Fried, the onetime crypto mogul set to testify in his own defense?
▼ + stars: | 2023-09-27 | 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: +6 min

NEW YORK, Oct 26 (Reuters) - A few years after graduating from college, Sam Bankman-Fried grew worried he was not taking enough risks. Two years after launching a hedge fund, Alameda Research, Bankman-Fried founded FTX, an exchange that let users buy and sell digital assets such as bitcoin. Based in the Bahamas, Bankman-Fried became known for his mop of unkempt curly hair and for wearing rumpled shorts, even when entertaining dignitaries like Bill Clinton. They contend the theft came to a head in 2022, when crypto prices swooned and he used FTX funds to plug losses at Alameda. Defense lawyers have argued that their cooperation agreements with prosecutors encourage them to implicate Bankman-Fried in the hopes of receiving lenient sentences.

Persons: Sam Bankman, Fried, Bill Clinton, Tom Brady, Larry David, FTX, Caroline Ellison, Alameda's, Forbes, Bankman, Jane Street, Gary Wang, Ellison, Nishad Singh, Wang, Singh, District Judge Lewis Kaplan, FTX's, influencer, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: Stanford Law School, Alameda Research, Forbes, Democratic, NFL, Alameda, Massachusetts Institute of Technology, Bankman, Prison, MIT, Jane, U.S, District, New York Times, Times, Thomson Locations: Bahamas, Manhattan, Alameda, United States, Asia, New York

☆ Bankman-Fried prosecutors may show jury evidence of political donations, judge rules
▼ + stars: | 2023-09-26 | by ( Luc Cohen | トムソンロイター | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

[1/2] Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York City, U.S., July 26, 2023. U.S. District Judge Lewis Kaplan in Manhattan said evidence of the former billionaire's donations were "intertwined inextricably" with charges he defrauded FTX customers by stealing billions of dollars in deposits. Prosecutors said he used $100 million in stolen FTX deposits to fund those donations, which he hoped would spur the passage of crypto-friendly legislation. Prosecutors said Bankman-Fried later sought to interfere with the bankruptcy estate, and undermine FTX creditors, by moving assets to cryptocurrency wallets controlled by Bahamian regulators. Kaplan said such evidence would be relevant at trial.

Persons: Sam Bankman, Fried, Amr Alfiky, District Judge Lewis Kaplan, Kaplan, FTX, Luc Cohen, Daniel Wallis 私 Organizations: FTX, United, REUTERS, U.S, District, Federal, Democratic, Prosecutors Locations: New York City, U.S, Manhattan, Bahamas, New York

☆ Sam Bankman-Fried spent house arrest at a desk cluttered with items including cinnamon gum, a mini fan, and a bottle of Adderall
▼ + stars: | 2023-09-26 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried was under house arrest until he was remanded to jail in August. At home, his desk was cluttered with items like a pack of gum, a mini fan, and Adderall. Now, at the Metropolitan Detention Center in Brooklyn, he doesn't have access Adderall. AdvertisementAdvertisementSam Bankman-Fried's parents, Barbara Fried and Joseph Bankman. Now, Bankman-Fried's living conditions have drastically changed in recent months.

Persons: Sam Bankman, Fried, —, Sheelah Kolhatkar, Barbara Fried, Joseph Bankman, Michael M, Sandor, Lewis Kaplan, He's, Mark Cohen, Judge Kaplan Organizations: Metropolitan Detention, Service, Yorker, New Yorker, CNBC Locations: Brooklyn, Palo Alto , California, New, California, German, Brooklyn —

☆ Sam Bankman-Fried's trial to test dueling explanations for FTX’s collapse
▼ + stars: | 2023-09-26 | 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: +6 min

He plastered FTX's logo on a basketball arena in Miami and on MLB baseball umpires' uniforms. Prosecutors say Bankman-Fried directed Wang to change FTX's computer code to allow Alameda to borrow unlimited sums of money, a privilege other exchange users lacked. Bankman-Fried's defense lawyers have indicated in court papers that they plan to challenge the credibility of all three witnesses. "The question is, when did Bankman-Fried know that there wouldn't be enough money?" Reporting by Luc Cohen in New York; Editing by Amy Stevens and Daniel WallisOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Eduardo Munoz, Fried, Jane Street, FTX, Damian Williams, Forbes, Bankman, It's, Mark Kasten, Buchanan Ingersoll, Rooney, Caroline Ellison, Gary Wang, Nishad Singh, Wang, Singh, Ellison, District Judge Lewis Kaplan, Paul Tuchmann, Wiggin, Dana, Luc Cohen, Amy Stevens, Daniel Wallis Organizations: REUTERS, U.S, Wall, Alameda Research, MLB, Prosecutors, Attorney, Bankman, Alameda, District, New York Times, Thomson Locations: New York, U.S, Manhattan, Miami, Alameda, Bahamas

Circuit Court of Appeals in Manhattan. In her writings, she described feeling "unhappy and overwhelmed" with her job and "hurt/rejected" from a breakup with Bankman-Fried. A lawyer for Bankman-Fried told the appeals court on Sept. 19 that Kaplan failed to credit the defendant for exercising his First Amendment constitutional right to speak with the press and try to restore his reputation. The appeals court appeared skeptical. Bankman-Fried faces seven charges of fraud and conspiracy stemming from the collapse of FTX, the now-bankrupt crypto exchange he founded.

Persons: Sam Bankman, Eduardo Munoz, District Judge Lewis Kaplan, Caroline Ellison, Ellison, Fried, Kaplan, Danielle Sassoon, William Nardini, Luc Cohen Organizations: REUTERS, U.S, Circuit, District, Alameda Research, New York Times, Bankman, Metropolitan Detention, Prosecutors, Alameda, Thomson Locations: New York, U.S, Manhattan . U.S, Alameda, Palo Alto , California, FTX

REUTERS/Amr Alfiky/File Photo Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. judge on Thursday restricted Sam Bankman-Fried's ability to call expert witnesses to testify at his criminal fraud trial, in a blow to the FTX cryptocurrency exchange founder. But in a written order, U.S. District Judge Lewis Kaplan said three proposed witnesses cannot take the stand, because their testimony was irrelevant or could confuse the jury. He also said Bankman-Fried may seek to call the remaining four experts, but only to rebut prosecution witnesses. Among the witnesses Kaplan rejected was Peter Vinella, a consultant who intended to testify about "FTX's use of widely-accepted practices in the financial services industry." It is common in U.S. criminal trials for prosecutors and defendants to call experts to help jurors understand complex issues.

Persons: Sam Bankman, Fried, Amr Alfiky, District Judge Lewis Kaplan, Kaplan, Peter Vinella, Lawrence Akka, Luc Cohen, Daniel Wallis Organizations: United, REUTERS, Alameda Research, District, Prosecutors, Alameda, Thomson Locations: New York City, U.S, Alameda, Bankman, New York

☆ Sam Bankman-Fried to argue for release from NY jail two weeks before trial
▼ + stars: | 2023-09-19 | 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: +2 min

This included his sharing the personal writings of Caroline Ellison, the former chief executive of his Alameda Research hedge fund, with a New York Times reporter. Ellison has pleaded guilty to fraud and is expected to testify against Bankman-Fried, a former romantic partner. Bankman-Fried faces seven charges of fraud and conspiracy stemming from the November 2022 collapse of his now-bankrupt company. Prosecutors countered in court papers that Bankman-Fried sought to use the Times as a "mouthpiece for discrediting a government witness shortly before trial." They also said Bankman-Fried has had no more difficulty preparing for trial than any other detainee.

Persons: Sam Bankman, District Judge Lewis Kaplan, Bankman, Caroline Ellison, Ellison, Fried, jailing, Kaplan, Luc Cohen, Will Dunham Organizations: Manhattan U.S, U.S, Circuit, District, Alameda Research, New York Times, Bankman, Prosecutors, Alameda, Thomson Locations: Brooklyn, Alameda, New York

☆ Trump can't delay second E. Jean Carroll case, but his appeal is sped up
▼ + stars: | 2023-09-13 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

E. Jean Carroll reacts as she exits the Manhattan Federal Court following the verdict in the civil rape accusation case against former U.S. President Donald Trump, in New York City, U.S., May 9, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Sept 13 (Reuters) - A federal appeals court on Wednesday rejected Donald Trump's bid to put the writer E. Jean Carroll's second defamation case on hold, but sped up the former U.S. president's appeal. Trump also cited "immense public interest" in letting the appeals court decide the issue. The appeals court could order Trump to pay damages and costs if it agreed. The case is Carroll v. Trump, 2nd U.S.

Persons: Jean Carroll, Donald Trump, Brendan McDermid, Donald Trump's, Jean Carroll's, Trump, District Judge Lewis Kaplan's, Carroll, Kaplan, Trump's, Jonathan Stempel, Daniel Wallis Organizations: U.S, REUTERS, District, Elle, Circuit, Carroll, Trump, CNN, Thomson Locations: Manhattan, New York City, U.S, midtown Manhattan, New York

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