Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "FTX’s Bahamas"


4 mentions found


Lawyers for Caroline Ellison, the star witness in the prosecution of FTX founder Sam Bankman-Fried, are recommending no prison time for their client’s role in the implosion of the crypto empire that was run by her former boss and ex-boyfriend. Judge Lewis Kaplan, who presided over Bankman-Fried’s case, cited Ellison’s testimony when he decided in March to sentence the FTX founder to 25 years behind bars. Ellison, who ran Alameda Research, agreed to a plea deal in December 2022, a month after FTX spiraled into bankruptcy. Bankman-Fried forced Ellison into a sort-of isolation, culminating in her moral compass being “warped,” the lawyers say. Her former roommates and ex-FTX executives, Nishad Singh and Gary Wang, will be sentenced in October and November, respectively.
Persons: Caroline Ellison, Sam Bankman, Ellison, Judge Lewis Kaplan, FTX spiraled, “ Caroline, John Ray, , Fried, disentangling, , ” She’s, that’s, ” Ellison, Nishad Singh, Gary Wang, — CNBC’s Dan Mangan Organizations: U.S, Alameda Research, court’s, Department, , Bankman Locations: FTX’s Bahamas, Alameda, Boston, Hong Kong, Bahamas, Bankman
A top executive of FTX’s Bahamas subsidiary warned that country’s securities authority days before the company filed for bankruptcy Nov. 11 of customer fund transfers to Alameda Research, a cryptocurrency trading firm tied to FTX, according to documents made public Wednesday. The warning prompted the regulator to immediately seek a criminal investigation, according to the documents. Securities Commission Executive Director Christina Rolle requested that the financial crimes unit of the Royal Bahamas Police Force open an investigation into the subsidiary, FTX Digital Markets Ltd., the same day based on the warning of FTX Digital Chairman Ryan Salame.
Crypto exchange FTX was run as a “personal fiefdom” of Sam Bankman-Fried, attorneys for the firm said on Tuesday, describing that one of the company’s units spent $300 million on Bahamas real estate. An attorney said the $300 million spent on real estate was largely homes and vacation properties for senior staff. At the hearing, an attorney for FTX also said that the company continues to suffer cyberattacks as bankruptcy begins, and that “substantial” assets are missing. Bankman-Fried, FTX and the Bahamas liquidators did not immediately respond to requests for comment. FTX said that it was communicating with U.S. regulators and bankruptcy court officials, but did not mention Bahamas regulators.
FTX’s Bahamas unit files for bankruptcy in New York
  + stars: | 2022-11-16 | by ( Chris Isidore | ) edition.cnn.com   time to read: 1 min
How relevant is this ad to you? Video player was slow to load content Video content never loaded Ad froze or did not finish loading Video content did not start after ad Audio on ad was too loud Other issues
Total: 4