DIRS.INFO The most relevant business & tech news

July 19 (Reuters) - A U.S. judge on Wednesday denied Donald Trump's bid to move from New York state court to federal court the criminal case against the former U.S. president stemming from a hush money payment to a porn star. Trump, the front-runner for the Republican presidential nomination in 2024, had argued the case belonged in federal court, claiming that the indictment related to his 2016 presidency and involved federal election law. U.S. District Judge Alvin Hellerstein in Manhattan bought none of his arguments. "The evidence overwhelmingly suggests that the matter was purely a personal item of the President -- a cover-up of an embarrassing event," Hellerstein wrote in a 25-page decision. In the hush-money case, Justice Juan Merchan of New York State Supreme Court in Manhattan has set a trial for March 2024.

Persons: Donald Trump's, Trump, reimbursements, Michael Cohen, Stormy Daniels, Alvin Hellerstein, Hellerstein, E, Jean Carroll, Juan Merchan, District Judge Hellerstein, Daniels, Stephanie Clifford, Karen Freifeld, Chris Reese, Leslie Adler, Jonathan Oatis Organizations: Republican, U.S, Trump, New York, Court, District, Thomson Locations: U.S, New York, Manhattan, New, York

☆ Tesla to hand over Musk's emails to JPMorgan in lawsuit over 2018 tweet
▼ + stars: | 2023-07-19 | 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

NEW YORK, July 19 (Reuters) - JPMorgan Chase (JPM.N) will get to review some of Elon Musk's emails as it pursues a lawsuit against Tesla (TSLA.O) over a bond contract dispute that arose after Musk tweeted he might take his electric car company private. JPMorgan plans to depose Musk in December, Tesla lawyer Nathan Goralnik said at the hearing. JPMorgan sued Tesla for $162.2 million in November 2021, saying Tesla breached a 2014 contract related to stock warrants it sold to the bank, and which JPMorgan believes became more valuable because of Musk's tweet. Tesla countersued JPMorgan in January, accusing the bank of seeking a "windfall" when it re-priced the warrants. A federal jury in San Francisco in February found Musk and Tesla not liable for misleading investors with the tweet.

Persons: JPMorgan Chase, Elon, Musk, Ona Wang, Tesla, tweeting, Nathan Goralnik, Goralnik, Luc Cohen, Chizu Organizations: YORK, JPMorgan, Tesla, SpaceX, Twitter, U.S . Securities, Exchange Commission, Thomson Locations: Manhattan, U.S, San Francisco, New York

☆ Venezuela ex-spymaster arrives in US to face drug charges after extradition
▼ + stars: | 2023-07-19 | 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

MADRID/NEW YORK, July 19 (Reuters) - The former head of Venezuela's military intelligence, Hugo Carvajal, arrived in the United States on Wednesday to face drug trafficking charge after being extradited from Spain, his lawyer said. Carvajal is expected to make an initial appearance in Manhattan federal court on Thursday morning, said his lawyer, Zachary Margulis-Ohnuma. Prosecutors say Carvajal in 2006 coordinated the shipment of 5,600 kg (1,235 pounds) of U.S.-bound cocaine to Mexico from Venezuela. Carvajal is also wanted in Venezuela on charges including treason and financing terrorism. "I hope the United States ... delivers to Venezuela a criminal like Hugo Carvajal," Jorge Rodriguez, the president of Venezuela's Maduro-aligned legislature, told reporters on Wednesday.

Persons: Hugo Carvajal, Carvajal, Zachary Margulis, El, Hugo Chavez's, Nicolas Maduro, Chavez, Maduro, Jorge Rodriguez, Venezuela's, Emma Pinedo, Luc Cohen, Deisy Buitrago, William Maclean, Mike Harrison, Daniel Wallis Organizations: MADRID, of Human, U.S, Washington, Thomson Locations: United States, Spain, Manhattan, Madrid, The U.S, Mexico, Venezuela, New York, Caracas

☆ Accused Russian intelligence officer pleads not guilty to US smuggling charges
▼ + stars: | 2023-07-14 | 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: +1 min

NEW YORK, July 14 (Reuters) - An alleged Russian intelligence officer pleaded not guilty on Friday to U.S. charges of smuggling U.S.-origin electronics and ammunition to Russia to help its war against Ukraine. Vadim Konoschenok, who was extradited on Thursday from Estonia, entered the plea at a hearing in federal court in Brooklyn. U.S. Magistrate Judge Ramon Reyes ordered Konoschenok detained pending trial, after prosecutors called him a flight risk. Konoschenok was initially charged last September, as U.S. authorities sought to ramp up enforcement of export controls and sanctions designed to hamper Moscow's war effort. Reporting by Luc Cohen; editing by John Stonestreet and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Vadim Konoschenok, Judge Ramon Reyes, Konoschenok, Sabrina Shroff, Luc Cohen, John Stonestreet, Sandra Maler Organizations: YORK, Ukraine, U.S, Attorney, Thomson Locations: Russian, Russia, Estonia, Brooklyn . U.S, Brooklyn, U.S, Washington

NEW YORK, July 13 (Reuters) - Alex Mashinsky, founder and former CEO of bankrupt cryptocurrency lender Celsius Network, pleaded not guilty Thursday to U.S. fraud charges that he misled customers and artificially inflated the value of his company's propriety crypto token. Three federal regulatory agencies also sued Mashinsky and Celsius in connection with the case. Mashinsky, 57, was charged with seven criminal counts - including securities fraud, commodities fraud and wire fraud - according to an indictment unsealed earlier on Thursday. Its founder Sam Bankman-Fried was charged with fraud last year, and has pleaded not guilty. "Whether it's old-school fraud or some new-school crypto scheme, it doesn't matter one bit.

Persons: Alex Mashinsky, Mashinsky, Sam Bankman, Fried, Ona Wang, Roni Cohen, Pavon, Cohen, Damian Williams, Williams, Hannah Lang, Luc Cohen, Chris Prentice, Elizabeth Howcroft, Chizu Nomiyama, Michelle Price, Jonathan Oatis Organizations: YORK, Prosecutors, U.S . Securities, Exchange Commission, SEC, Futures Trading Commission, Federal Trade Commission, U.S, Thomson Locations: Manhattan, Israeli, U.S, Hoboken , New Jersey, Washington, New York, Bengaluru, London

☆ US charges second Frank college aid executive with defrauding JPMorgan
▼ + stars: | 2023-07-12 | 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: +1 min

Companies JPMorgan Chase & Co FollowNEW YORK, July 12 (Reuters) - U.S. prosecutors on Wednesday unveiled an indictment charging Olivier Amar, who helped run college financial aid startup Frank, with defrauding JPMorgan Chase (JPM.N) into buying their company for $175 million. Amar, who was Frank's chief growth officer, was charged with wire fraud, bank fraud, securities fraud and conspiracy, becoming the second company official indicted in the case. Lawyers for Amar, whose whereabouts were not immediately known, did not immediately respond to a request for comment. A spokesman for the U.S. Attorney's office in Manhattan also did not immediately respond to a request for comment. The bank shut down Frank in January, and Chief Executive Jamie Dimon branded the acquisition a "huge mistake."

Persons: Olivier Amar, Amar, Frank, Charlie Javice, Javice, Jamie Dimon, counterclaims, Luc Cohen, Bill Berkrot Organizations: JPMorgan Chase, U.S, JPMorgan, Thomson Locations: Manhattan, U.S, Amar, Delaware, New York

U.S. interest rate expectations have been a key driver of the dollar since the Fed began its tightening cycle last year. A survey from the New York Federal Reserve on Monday showed waning near-term inflation expectations among Americans, who said last month they were expecting the weakest near-term inflation gains in just over two years. Sterling , meanwhile, hit a near 15-month high of $1.2913 after British wage growth hit a joint record high, heaping pressure on the Bank of England to tighten policy further to bring inflation under control. The pound has been rallying on a stronger economy and aggressive repricing of expectations for tighter BoE policy, according to Danske Bank FX analyst Kirstine Kundby-Nielsen. Elsewhere, the euro rose 0.1% to $1.1012, the Australian dollar steadied at $0.6680, while the New Zealand dollar fell 0.2% to $0.6198.

Persons: Rick Wilking, Shaun Osborne, Sterling, Kirstine Kundby, That's, Kundby, Nielsen, Moh Siong Sim, Samuel Indyk, Rae Wee, Shri Navaratnam, Edmund Klamann, Alex Richardson Organizations: REUTERS, Federal, Fed, Scotiabank . Markets, New York Federal Reserve, Bank of England, Danske Bank, Nielsen, Singapore, Bank of Japan, New Zealand, Thomson Locations: Westminster , Colorado, U.S, . U.S, Japan, China's

☆ Dollar slips as Fed hike cycle nears end; focus on US inflation
▼ + stars: | 2023-07-11 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

Several Fed officials said on Monday the central bank will likely need to raise interest rates further to bring down still-high inflation, but that the end to its current monetary policy tightening cycle is getting close. U.S. interest rate expectations have been a key driver of the dollar since the Fed began its tightening cycle last year. A survey from the New York Federal Reserve showed on Monday waning near-term inflation expectations among Americans, who said last month they were expecting the weakest near-term inflation gains in just over two years. The dollar/yen pair is particularly sensitive to U.S. yields as interest rates in Japan are anchored near zero. Elsewhere, the Australian dollar gained 0.16% to $0.6687, while the New Zealand dollar added 0.06% to $0.6216.

Persons: Sterling, Carol Kong, Rae Wee, Shri Navaratnam Organizations: Federal, Fed, Commonwealth Bank of Australia, New York Federal, Treasury, Australian, New Zealand, Macquarie, Thomson Locations: SINGAPORE, U.S, Asia, . U.S, Japan, China

☆ Dollar slips as Fed hike cycle nears end, focus on U.S. inflation
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: +3 min

Persons: Sterling, Carol Kong Organizations: Federal, Fed, Commonwealth Bank of Australia, New York Federal, Treasury, Australian, New Zealand, Macquarie Locations: U.S, Asia, . U.S, Japan, China

NEW YORK, July 10 (Reuters) - The leader of a U.S. think tank has been charged with acting as an unregistered agent of China, as well as seeking to broker the sale of weapons and Iranian oil, federal prosecutors in Manhattan said on Monday. Luft is accused of pushing the adviser to support policies favorable to China, including by drafting comments in the adviser's name published in a Chinese newspaper. Luft is co-director of the Institute for the Analysis of Global Security, which describes itself as a Washington, D.C.-based think tank focused on energy, security and economic trends. The think tank did not immediately respond to a request for comment. Reporting by Luc Cohen in New York; Editing by Stephen Coates and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Gal Luft, Donald Trump, Luft, I've, Prosecutors, Luc Cohen, Stephen Coates, Bill Berkrot Organizations: YORK, Prosecutors, U.S, Reuters, Institute, Global Security, D.C, United Arab, Thomson Locations: U.S, China, Manhattan, United States, Israel, Cyprus, Washington, Libya, United Arab Emirates, Kenya, New York

WASHINGTON, July 6 (Reuters) - New data from the New York Federal Reserve shows underlying inflation may have slowed faster than the headline measures that have kept U.S. central bank officials poised for further interest rate increases. The New York Fed core trend also factors out the food and energy items that central bankers try to look beyond in assessing the direction of inflation. That's because recent data on rents, which have been moderating, gets incorporated faster into the New York Fed's estimates. From a monetary policy perspective, the new estimate could add fodder to arguments for being more cautious about further rate increases. Some policymakers have been concerned that the main measure of core inflation has shown little improvement; the New York Fed's alternate measure suggests that may be the result of temporary factors rather than a more persistent trend.

Persons: Howard Schneider, Chizu Organizations: New York Federal Reserve, Reuters, New, Fed, New York Fed, York, Thomson Locations: York

☆ What the stock market is saying about when to expect a recession
▼ + stars: | 2023-07-02 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

As the economy proved more resilient than expected, and the US has avoided recession so far, the case for a 2023 recession has been crumbling. The stock market, which entered bull market territory just a few weeks ago, has shown little sign this year that the economy could be headed for a downturn. Still, the bond market tells a different story: The New York Federal Reserve’s recession probability model calculates the probability that the US will enter a recession in the next 12 months by tracking the spread of 3-month and 10-year Treasury yields. US stock market closes early at 1 p.m. Tuesday: US stock market closed for July Fourth.

Persons: Brian Moynihan, “ We’re, ”, David Grecsek, Jerome Powell, it’s, “ we’re, Russell, Outflows, Brian Mulberry, Tim Courtney, Courtney ., “, Niño, Samantha Delouya, El Organizations: CNN Business, Bell, New York CNN —, Federal Reserve, Bank of America, CNN, Vanguard, JPMorgan Chase, Investors, Fed, Investment Company Institute, Zacks Investment Management, New, Federal Reserve Bank of San, Exencial Wealth, Oceanic, Atmospheric Administration, NOAA, PMI, Labor Locations: New York, Federal Reserve Bank of San Francisco, El

☆ Six questions facing US stock investors as 2023's second half nears
▼ + stars: | 2023-06-29 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

With two days left in the first half, the S&P 500 (.SPX) is up 14% in 2023 - a rebound that surprised many analysts after equities’ brutal 2022 decline. If history is a guide, stocks’ strong start may give them a tailwind in the second half. Here are six key questions investors are posing as they assess the market's prospects:WHERE’S THAT RECESSION? While the S&P 500 has gained 14% this year, the equal-weight version of the index -- a proxy for the average stock -- has gained just 4.2%. The S&P 500 tech sector (.SPLRCT) now trades at 27 times forward earnings, according to Refinitiv Datastream.

Persons: Sam Stovall, Refinitiv, Lewis Krauskopf, Ira Iosebashvili, David Gregorio Our Organizations: YORK, Nasdaq, New York Federal Reserve, Treasury, UBS, CAN, Apple Inc, Nvidia Corp, HSBC, Reuters Graphics, Advisory Services, Reuters, Thomson Locations: U.S, Silicon

☆ Bankman-Fried loses bid to toss criminal charges over FTX's collapse
▼ + stars: | 2023-06-27 | 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: +1 min

NEW YORK, June 27 (Reuters) - A U.S. judge on Tuesday denied Sam Bankman-Fried's bid to have criminal charges against him thrown out, paving the way for the founder of now-bankrupt cryptocurrency exchange FTX to face trial starting Oct. 2. In May, Bankman-Fried asked U.S. District Judge Lewis Kaplan to dismiss at least 11 of the 13 fraud and conspiracy charges he faced. "The arguments are either moot or without merit," Kaplan wrote in a ruling on Thursday. A spokesman for Bankman-Fried did not immediately respond to a request for comment. Reporting by Luc Cohen in New York, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Bankman, Fried, District Judge Lewis Kaplan, Kaplan, Luc Cohen, Deepa Babington Organizations: YORK, Federal, Alameda Research, U.S, District, Supreme, Thomson Locations: U.S, Manhattan, FTX, Bahamas, United States, New York

"This is a really fine settlement," Rakoff said. Epstein had been a JPMorgan client from 1998 through 2013, when the bank terminated his accounts. JPMorgan in a statement this month said any association it had with Epstein "was a mistake and we regret it." Rakoff appointed Simone Lelchuk, a lawyer who specializes in administering settlements, to consider individual claims and determine payouts in the JPMorgan and Deutsche Bank cases. JPMorgan is also facing a lawsuit over Epstein by the U.S. Virgin Islands, where the financier owned two neighboring islands.

Persons: Morgan Chase, Mike Segar, Jeffrey Epstein, Jed Rakoff, Rakoff, Epstein, Jane Doe, David Boies, Boies, Simone Lelchuk, Luc Cohen, Jonathan Stempel, Matthew Lewis Organizations: Co, New York City, REUTERS, JPMorgan Chase's, U.S, Deutsche Bank, JPMorgan, U.S ., Thomson Locations: New York, U.S, Manhattan, Florida, Russia, Eastern Europe, U.S . Virgin Islands

☆ Trump's push for new sex abuse trial is 'magical thinking,' Carroll says
▼ + stars: | 2023-06-22 | 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

NEW YORK, June 22 (Reuters) - Donald Trump's push for a new trial in the civil case in which a Manhattan jury last month found the former U.S. president sexually abused and defamed the writer E. Jean Carroll is "magical thinking," Carroll's lawyers said on Thursday. In court papers filed Thursday in opposition to Trump's request, Carroll's lawyers maintained that the attack has harmed her ability to have romantic and sexual relationships, and she has suffered intrusive memories. They pointed to a psychologist's testimony at trial that Carroll had some symptoms of post-traumatic stress disorder. "Trump's motion is nothing more than his latest effort to obfuscate the import of the jury's verdict by engaging in his own particular Trump-branded form of magical thinking," her lawyers wrote. Carroll, a former Elle magazine advice columnist, filed a separate lawsuit in November 2019 for defamation only.

Persons: Donald Trump's, Jean Carroll, Carroll, Trump's, Trump, Goodman, Luc Cohen, Angus MacSwan Organizations: YORK, Trump, Republican, Elle, CNN, Thomson Locations: Manhattan, New York, Lago, Florida

☆ Founder of US 'orgasmic meditation' group to challenge forced labor charge
▼ + stars: | 2023-06-21 | 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: +1 min

[1/3] Nicole Daedone, founder and former CEO of OneTaste Inc., arrives for a hearing at the Brooklyn Federal Courthouse in Brooklyn, New York, U.S., June 21, 2023. REUTERS/Brendan McDermidNEW YORK, June 21 (Reuters) - The founder of OneTaste, a sexual wellness company that claims to teach "orgasmic meditation," plans to challenge a federal criminal charge that she surveilled group members and withheld promised wages, her lawyer said on Wednesday. Daedone, who also served as OneTaste's chief executive until 2017, and former head of sales Rachel Cherwitz have each pleaded not guilty to one count of forced labor conspiracy. Jenny Kramer, a lawyer for Cherwitz, told Gujarati her client denied the charges. Reporting by Luc Cohen in New York Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nicole Daedone, Brendan McDermid, Reid Weingarten, Diane, Weingarten, Rachel Cherwitz, Jenny Kramer, Cherwitz, OneTaste, Luc Cohen, Matthew Lewis Organizations: OneTaste Inc, Brooklyn Federal, REUTERS, U.S, District, Netflix, Thomson Locations: Brooklyn, Brooklyn , New York, U.S, California, New York

☆ Ex New York police sergeant convicted of acting as Chinese agent in 'Fox Hunt' trial
▼ + stars: | 2023-06-20 | 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

The case was the first of several involving alleged Fox Hunt schemes to reach trial in the United States. Jurors also convicted McMahon on a stalking charge, but found him not guilty of conspiring to act as a foreign agent. THREATENING NOTE ON TARGET'S DOORCo-defendant Zhu Yong, who hired McMahon in 2016 for the job, was convicted on all charges. A third defendant, Zheng Congying was convicted of stalking but found not guilty of acting as a Chinese agent. Reporting by Luc Cohen in New York; Editing by Matthew Lewis and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael McMahon, Xu Jin, Fox Hunt, Attorney Breon, McMahon, Lawrence Lustberg, Prosecutors, Meredith Arfa, Zhu Yong, Kevin Tung, Zheng Congying, Zheng, Renee Wong, Xu, Luc Cohen, Matthew Lewis, Bill Berkrot Organizations: YORK, New York City, U.S, Attorney, FBI, Chinese Communist Party, Thomson Locations: New York, U.S, Brooklyn, surveil New Jersey, China, United States, Washington, Paramus , New Jersey, Wuhan

☆ Dimon may have ordered JPMorgan's review of Epstein ties, Virgin Islands says
▼ + stars: | 2023-06-20 | 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

NEW YORK, June 20 (Reuters) - JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon may have ordered a 2019 review of the bank's relationship with the late financier and sex offender Jeffrey Epstein, the U.S. Virgin Islands said. The U.S. Virgin Islands lawsuit is scheduled for an Oct. 23 trial in Manhattan federal court. It referred to a 22-page summary of emails primarily between and among Epstein, Staley and others. A spokesperson for the Virgin Islands said the bank's senior executives "ignored the evidence of Jeffrey Epstein's crimes." JPMorgan is suing Staley to cover its losses in the U.S. Virgin Islands' and Epstein victims' lawsuits.

Persons: JPMorgan Chase, Jamie Dimon, Jeffrey Epstein, Epstein, Jes Staley, Dimon, Staley, Jed Rakoff, Lehman Brothers, Jeffrey Epstein's, Luc Cohen, Nupur Anand, Matthew Lewis Organizations: YORK, JPMorgan, U.S . Virgin, Jeep, Virgin Islands, Barclays, Thomson Locations: U.S, Manhattan, U.S . Virgin Islands, Florida, New York

☆ Prosecutors ask to remove new Bankman-Fried charges from October trial
▼ + stars: | 2023-06-15 | 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

NEW YORK, June 15 (Reuters) - U.S. prosecutors on Wednesday asked a judge to hold a separate trial for Sam Bankman-Fried, the indicted founder of now-bankrupt cryptocurrency exchange FTX, who faces new charges of foreign bribery, bank fraud and conspiracy. Prosecutors added those charges this year, after Bankman-Fried's December 2022 extradition from the Bahamas in the wake of FTX's collapse. He had asked U.S. District Judge Lewis Kaplan in Manhattan to dismiss the new charges or alternatively separate them from his Oct. 2 trial. Prosecutors have said they will drop the charges if the Caribbean nation does not consent to them. Lawyers for Bankman-Fried have asked that at least 11 of the charges be dismissed.

Persons: Sam Bankman, District Judge Lewis Kaplan, Marco Bello, FTX, Kaplan, Fried, Abinaya, Luc Cohen, Jason Neely, Elaine Hardcastle Organizations: YORK, U.S, Wednesday, Prosecutors, District, REUTERS, Bankman, Thomson Locations: Bahamas, Manhattan, Nassau, Caribbean, Bengaluru, New York

☆ U.S. judge appears skeptical of Bankman-Fried's push to dismiss charges
▼ + stars: | 2023-06-15 | 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

U.S. District Judge Lewis Kaplan in Manhattan expressed his concerns at a hearing where Bankman-Fried's lawyers sought to dismiss at least 11 of 13 charges their client faces. He had asked Kaplan to dismiss six of the 13 charges because the Caribbean country did not consent, and five more because they rested on an invalid legal theory. The judge also said Bankman-Fried appeared to lack standing to invoke an extradition treaty between the two countries to get those charges - including bank fraud and bribing Chinese officials - dismissed. Prosecutors have said their charges did not rely on that theory because Bankman-Fried schemed to take his victims' money. Separately, Kaplan denied Bankman-Fried's request to force prosecutors to review some of FTX's files.

Persons: Sam Bankman, District Judge Lewis Kaplan, FTX, Kaplan, Fried, Mark Cohen, Marco Bello, Christian Everdell, Bankman, Abinaya, Luc Cohen, Jason Neely, Elaine Hardcastle, Jonathan Oatis Organizations: YORK, U.S, District, Alameda Research, REUTERS, Supreme, Prosecutors, Thomson Locations: U.S, Manhattan, Bahamas, Caribbean, United States, Alameda, Nassau, Bankman, Bengaluru, New York

☆ Sam Bankman-Fried challenges post-extradition charges in Bahamas court
▼ + stars: | 2023-06-13 | 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

NEW YORK, June 13 (Reuters) - Sam Bankman-Fried, the indicted founder of bankrupt cryptocurrency exchange FTX, wants a U.S. judge to throw out criminal charges brought against him following his extradition from the Bahamas. They want U.S. District Judge Lewis Kaplan to dismiss the charges, or try them separately from seven additional charges at Bankman-Fried's scheduled Oct. 2 trial. Bankman-Fried, 31, was extradited in December from the Bahamas to face charges he stole from customers, lied to investors and lenders, and violated campaign finance laws. An extradition treaty between the United States and the Bahamas says a country must consent before defendants can be tried on charges brought after their extradition. U.S. prosecutors have said will drop Bankman-Fried's post-extradition charges if the Bahamas does not consent.

Persons: Sam Bankman, District Judge Lewis Kaplan, FTX, Fried, Kaplan, Luc Cohen Organizations: YORK, U.S, District, Supreme, Prosecutors, Thomson Locations: U.S, Bahamas, Manhattan, Bankman, Caribbean, FTX, United States, New York

☆ Consumer spending: Gen Z, Millennials are scrimping. Boomers are living it up
▼ + stars: | 2023-06-12 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

While Baby Boomers and even Traditionalists (born 1928-1945) are ramping up spending, Gen X, Gen Z and Millennials are cutting back as they grapple with high housing costs and looming student debt payments. If not for the aggressive spending by Boomers, Tinsley said, overall consumer spending would have been even more negative. Bank of America spending data shows a noticeable bump in spending by households that received the cost-of-living boost. The student debt freeze, in effect since March 2020 when the Covid pandemic erupted, is expected to conclude by the end of August. For millions of Gen Z and Millennials, the return of student debt payments will mean less money for spending on restaurants and vacations.

Persons: Gen X, Gen, ” David Tinsley, Tinsley, ” Tinsley, ”, Biden, “ Organizations: New York CNN, Younger, Bank of America, Boomers, Bank of America Institute, CNN, Baby Boomers, Social, New York Federal Reserve Locations: Tinsley

☆ Ex-JPMorgan executive Staley to be questioned under oath about Epstein ties
▼ + stars: | 2023-06-09 | 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: +3 min

It has in turn sued Staley, arguing he concealed what he knew about Epstein's trafficking and should cover any damages the bank may face in the cases. Staley left JPMorgan in 2013, a few months after the bank fired Epstein, and served as Barclays' (BARC.L) chief executive from 2015 to 2021. Zachary Margulis-Ohnuma, a lawyer who has represented sex trafficking victims and defendants, said he expected the plaintiffs to "grill" Staley on his knowledge of Epstein's sex trafficking and whether it affected the handling of Epstein's accounts. Staley also said JPMorgan had "unclean hands" given its own mistakes in dealing with Epstein. Epstein killed himself at age 66 in a Manhattan jail cell in August 2019 while awaiting trial on sex trafficking charges.

Persons: Jes Staley, Jeffrey Epstein, Epstein, Jed Rakoff, Staley, Jamie Dimon, Zachary Margulis, Jeff Epstein, Luc Cohen, Nupur Anand, Noeleen Walder, Daniel Wallis Organizations: YORK, JPMorgan Chase, U.S ., JPMorgan, Deutsche Bank, Barclays, Thomson Locations: U.S, U.S . Virgin Islands, Manhattan, Florida, Virgin, New York

Search resuls for: "The New York Federal"

25 mentions found