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☆ Sam Bankman-Fried appeared to wipe away tears during sentencing while his dad held his head in his hands and his mom stared out the window
▼ + stars: | 2024-03-28 | by ( Katie Balevic | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried, former CEO of FTX, was sentenced to 25 years in prison on Thursday. US District Judge Lewis Kaplan said Bankman-Fried didn't express remorse for his crimes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Speaking before the court, Bankman-Fried apologized for the pain caused to customers, maintaining that they could all be repaid in full. Prior to handing down the 25-year sentence, Kaplan called Bankman-Fried a "mathematical wizard," saying he essentially ran a cost-benefit analysis of getting caught versus getting away with fraud.

Persons: Sam Bankman, Lewis Kaplan, Bankman, —, Fried, Joseph Bankman, Barbara Fried, Elizabeth Williams, Marc Mukasey, Nicolas Roos, villainizing, Roos, Kaplan Organizations: Service, AP Locations: Manhattan

watch nowFTX founder Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for the massive fraud and conspiracy that doomed his cryptocurrency exchange and a related hedge fund, Alameda Research. FTX founder Sam Bankman-Fried leaves the U.S. courthouse in New York City on July 26, 2023. Instead, "He's an awkward math nerd" with a "tireless work ethic," said the lawyer, who also compared the FTX founder to "a beautiful puzzle." In this courtroom sketch, FTX founder Sam Bankman-Fried attends his sentencing hearing at federal court in New York City on March 28, 2024. Barbara Fried and Allan Joseph Bankman, parents of FTX co-founder Sam Bankman-Fried, arrive at court in New York on March 28, 2024.

Persons: Sam Bankman, Fried, Lewis Kaplan, Kaplan, FTX, District Judge Lewis Kaplan, Jane Rosenberg, Bankman, convicting, Prosecutors, Amr Alfiky, It's, Marc Mukasey, Torrey Young, Nicolas Roos, scoffed, Roos, Mukasey, Sam, Sunil Kavuri, Damian Williams, Samuel Bankman, " Williams, General Merrick Garland, Joseph Bankman, Barbara Fried, Allan Joseph Bankman, Yuki Iwamura, Caroline Ellison, Nishad Singh, Gary Wang Organizations: Alameda Research, ., U.S, District, Reuters, Republicans, Manhattan U.S, Stanford Law, Bloomberg, Getty, Bankman Locations: Manhattan, New York City, U.S, FTX, Kavuri, New York

Sam Bankman-Fried has been sentenced to 25 years in prison. US District Judge Lewis Kaplan sentenced Bankman-Fried Thursday to 25 years in prison. In his sentencing, Kaplan described Bankman-Fried as ambitious and deceitful, willing to gamble with his customers' livelihoods. He knew it was criminal," Kaplan said as Bankman-Fried slumped in his chair. AdvertisementNow that Bankman-Fried's sentencing is over, Kaplan, the judge, will likely swiftly order sentencing hearings for Ellison, Wang, and Singh.

Persons: Sam Bankman, Fried, —, Lewis Kaplan, Bankman, Kaplan, Prosecutors, Bernie Madoff, Marc Mukasey, Mukasey, perjured, it's, FTX, Caroline Ellison, Gary Wang, Nishad Singh —, Ellison, Wang, Singh, Ryan Salame, I've, didn't, John J, Ray III, Ray, Joseph Bankman, Barbara Fried Organizations: Service, Justice Department, FTX, Alameda Research, Prosecutors, Detention, Federal Bureau of Prisons Locations: Manhattan, FTX, Bahamas, Washington , DC, Brooklyn's, San Francisco

☆ Sam Bankman-Fried is dispensing crypto investment tips to Brooklyn prison guards: NYT
▼ + stars: | 2024-02-29 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried might be in jail, but the NYT reports that he's still got a finger on the pulse with crypto. Bankman-Fried has been reportedly sharing crypto investment tips with prison guards, per NYT. Bankman-Fried is reportedly giving crypto investment tips and touting investments in the cryptocurrency Solana to prison guards, The Times reported on Tuesday, citing an unnamed source familiar with the matter. Bankman-Fried, Mukasey said, should be given a shorter sentence of five to six-and-a-half years. "A sentence that returns Sam promptly to a productive role in society would be sufficient, but not greater than necessary, to comply with the purposes of sentencing," Mukasey wrote.

Persons: Sam Bankman, he's, Fried, —, Solana, Michael Lewis, Lewis, Joseph Bankman, Barbara Fried, Marc Mukasey, Mukasey, Sam Organizations: Service, New York Times, The Times, Bankman, Times, Brooklyn's Metropolitan Detention Locations: Brooklyn, Brooklyn's, Bankman

☆ An ex-cop in jail with Sam Bankman-Fried says he's eating 'disgusting-looking beans and week-old brown lettuce' because of his veganism
▼ + stars: | 2024-02-28 | by ( Kwan Wei Kevin Tan | Jacob Shamsian | ) www.businessinsider.com time to read: +3 min

Read previewSam Bankman-Fried is maintaining his vegan diet in jail, but it's not going very well. Carmine Simpson, an ex-NYPD officer behind bars with Bankman-Fried, wrote a letter to US District Judge Lewis Kaplan where he pleaded for leniency on Bankman-Fried's behalf. Kaplan is set to sentence Bankman-Fried on March 28, months after the FTX founder was found guilty of seven counts of fraud and conspiracy in November. First photo of Sam Bankman-Fried in jail at MDC Brooklyn. Representatives for Bankman-Fried did not immediately respond to a request for comment from Business Insider sent outside regular business hours.

Persons: —, Sam Bankman, it's, Carmine Simpson, Lewis Kaplan, Kaplan, Sam, Simpson, Fried, Marc Mukasey, Joseph Bankman, Barbara Fried, Tiffany Fong, He's, I've, Fong Organizations: Service, ex, Business, MDC Brooklyn, Bankman, Business Insider

☆ Sam Bankman-Fried's parents are begging a judge to keep him out of prison, warning their son's social awkwardness could put him in 'extreme danger'
▼ + stars: | 2024-02-28 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +12 min

Bankman-Fried's lawyers filed a sentencing submission, asking for a prison sentence of no longer than 78 months — or six-and-a-half-years. The US Probation Office, which issues sentencing reports that judges typically rely on, recommended 100 years behind bars — which Bankman-Fried's lawyers called "barbaric." Advertisement"That recommendation is grotesque," Bankman-Fried's lawyers wrote. Sam Bankman-Fried's approach to veganism illustrated both his selflessness and awkwardness, his younger brother, Gabriel Bankman-Fried, wrote in a letter to the judge. In the sentencing submission, Bankman-Fried's lawyers argue that "the most reasonable estimate" for how much his victims lost was "zero."

Persons: —, Sam Bankman, Barbara Fried, Joseph Bankman, Gabriel Bankman, neurodiversity, Sam, Bankman, Lewis Kaplan, Fried, Jane Rosenberg, FTX, Michael M Santiago, Carmine Simpson, Simpson, That's, Gabriel, Seth Wenig, Marc Mukasey, Torrey Young, weren't, Barbara Fried —, John J, Ray III, John Ray Organizations: Service, Business, US, Prosecutors, Alameda Research, Office, Stanford Law, MIT, Wall, of Prisons, San, United, AP Locations: Manhattan, FTX, Brooklyn, Bahamas

☆ FTX fraudster Bankman-Fried seeks less than 7 year sentence, claims he is at risk of 'harm and extortion' in prison
▼ + stars: | 2024-02-28 | by ( Dan Mangan | ) www.cnbc.com time to read: +7 min

Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, arrives at court in New York, US, on Thursday, Feb. 16, 2023. "The harm to customers, lenders, and investors is zero," Bankman-Fried's lawyers wrote. The lawyers wrote that Bankman-Fried has a "neurodiversity" that "greatly affects how he perceives and is perceived." It is not a disease or a condition that needs to be cured," the lawyers wrote. "Individuals with ASD are often at considerably greater risk of physical harm and extortion in prison than other inmates," the lawyers wrote.

Persons: Sam Bankman, Fried, Joseph Bankman, Barbara Fried, Lewis Kaplan, —, Michael Milken, Damian Williams, Williams, Kaplan, Marc Mukasey, Sam, Drexel Burnham Lambert, Milken Organizations: Bankman, Alameda Research, The Manhattan U.S, PSR, Defense, Drexel, CNBC PRO Locations: New York, FTX, Manhattan, Alameda, Brooklyn , New York

☆ As Sam Bankman-Fried awaits prison sentence, FTX customers await a surprise: full repayment
▼ + stars: | 2024-02-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +8 min

Government exhibit in the case against former FTX CEO Sam Bankman-Fried. Lawyers representing the bankruptcy estate of FTX told a judge in Delaware last week that they expect to fully repay customers and creditors with legitimate claims. After the dust settled from FTX's bankruptcy, Solana saw a huge run-up in its price, and it continued to rally after the September report. The bankruptcy estate of FTX has been looking to sell its Anthropic stake, according to a court filing this month. For FTX customers, being made whole, according to a judge's ruling, means getting the cash equivalent of what their crypto was worth in November 2022.

Persons: Sam Bankman, Fried, FTX, Andrew Dietderich, —, Joseph Bankman, Barbara Fried, Brendan Mcdermid, John Ray III, Michael Kives, Braden Perry, FTX's, Ray, we're, It's, Solana, Lewis Kaplan, Elizabeth Williams, Michael Lewis, Lewis, IOUs, Perry, SBF, Renato Mariotti, Mariotti Organizations: Bankman, Federal Court, Reuters, K5 Global, SpaceX, Commodity Futures Trading Commission, CNBC, Alameda Research, U.S . Justice Department's Securities, Commodities, SEC Chari Locations: FTX, Delaware, Plenty, Palo Alto , California, New York City, U.S, Bankman, Solana, Alameda, FTX's, Anthropic, New York, Brooklyn

☆ Starbursts, smuggled coffee and Martin Shkreli: How CNBC reported the Sam Bankman-Fried trial
▼ + stars: | 2023-11-04 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +13 min

Artist: Elizabeth WilliamsJust before 8 p.m. on Thursday, 12 jurors found Sam Bankman-Fried guilty of all seven counts against him. (CNBC put out a note requesting access ahead of the trial — an email which was ultimately ignored.) Every exit to file a report included another breakneck trip through security, in a sort of run, rinse, repeat cycle — security, courtroom, exit, photographer's car to file, back up through security, over and over again. CNBC correspondent MacKenzie Sigalos reporting on the Sam Bankman-Fried trial from outside the SDNY courthouse at 500 Pearl Street in downtown Manhattan. Around 8:02 p.m., Bankman-Fried, speechless, began to walk to a room just adjacent to the main court.

Persons: Sam Bankman, Elizabeth Williams, Fried, MacKenzie Sigalos, Dan Mangan, Martin Shkreli, Andrew Ross Sorkin, Michael Lewis, Lewis, Indiana Jones, Ben McKenzie, McKenzie, Damian Williams, They'd, Danielle Sassoon, Jane Rosenberg, Joe Bankman, Barbara Fried, Joseph Bankman, Brendan Mcdermid, gaunt, Kaplan, Bankman, Mark Cohen, Judge Kaplan, blankly, Christian Everdell, Cohen Organizations: Alameda Research, Southern, of, CNBC, Auburn University totebag, Capitalism, U.S, Federal Court Locations: of New York, San Francisco, Vegas, Georgia, Manhattan, Indiana, New York City, U.S

The FTX founder was convicted on fraud and conspiracy charges, and faces up to 110 years in prison. Joseph Bankman and Barbara Fried, who have both taught at Stanford Law, are tied up in the FTX scandal. As the jury announced the verdict, Barbara Fried, Bankman-Fried's mother, seemed to fight back tears. As the courtroom cleared out, Bankman-Fried's parents stood and embraced. Bankman-Fried's parents, both longtime Stanford law professors, were caught up in the FTX scandal.

Persons: Sam, Bankman, Joseph Bankman, Barbara Fried, —, Sam Bankman, Joe Bankman, Fried, FTX Organizations: Stanford Law, Service, Alameda Research, Stanford, FTX, Bankman, San Francisco Bay Area Locations: Manhattan, FTX, The Bahamas, San Francisco Bay

☆ Who is former crypto king Sam Bankman-Fried?
▼ + stars: | 2023-11-03 | by ( Samantha Delouya | Allison Morrow | ) edition.cnn.com time to read: +9 min

New York (CNN) — Sam Bankman-Fried, once known as a cryptocurrency whiz kid, was found guilty on Thursday for his role in the collapse of the cryptocurrency exchange FTX. His entrepreneurial drive didn’t stop there: In 2019, Bankman-Fried co-founded cryptocurrency exchange FTX and became its CEO. In December 2022, Bankman-Fried was arrested in the Bahamas after US prosecutors filed criminal charges against him. Jane Rosenberg/ReutersBankman-Fried was found guilty of stealing billions of dollars from accounts belonging to customers of his once-high-flying crypto exchange FTX. Immediately following FTX’s crash, crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss, froze customer redemptions in its lending unit, citing market turmoil.

Persons: — Sam Bankman, FTX, Jane Street, ”, Fried, “, …, ” Sam Bankman, Erika P, Rodriguez, Jane, Caroline Ellison, Binance, Sam Bankman, Danielle Sassoon, District Judge Lewis Kaplan, Jane Rosenberg, Joe Bankman, Barbara Fried, Bankman, Allan Joseph Bankman, Yuki Iwamura, Samuel Bankman, Saul Loeb, ingratiated, Tom Brady, Stephen Curry, Naomi Osaka, Larry David, Cameron, Tyler Winklevoss Organizations: CNN, Jane, Capital, MIT, Alameda Research, Chicago Tribune, Tribune, Service, SoftBank, U.S, District, Reuters, Bloomberg, Royal Bahamas Police Force, Billionaire, Stanford, FTX, Getty, Democratic Party, Federal, Commission, Republican, Agriculture, Nutrition, Forestry, Miami Heat, ”, New Locations: York, Alameda, North Berkeley , California, Nassau, Bahamas, BlackRock, Bankman, Hong Kong, United States, FTT, New York City, U.S, FTX, New York, Washington ,

After Kaplan left the courtroom, Cohen put his arm around Bankman-Fried as they spoke at the defense table. He testified that while he made mistakes running FTX, such as not formulating a risk-management team, he did not steal customer funds. "We thought that we might be able to build the best product on the market," Bankman-Fried testified. The defense argued the three, who have not yet been sentenced, falsely implicated Bankman-Fried in a bid to win leniency at sentencing. Bankman-Fried has been jailed since August after Kaplan revoked his bail, having concluded he likely tampered with witnesses.

Persons: Sam Bankman, Fried, Bankman, FTX, Damian Williams, Williams, Bernie Madoff, Jordan Belfort, District Judge Lewis Kaplan, Mark Cohen, Kaplan, Cohen, nodded, Joseph Bankman, Barbara Fried, Fried's, Danielle Sassoon, Caroline Ellison, Gary Wang, Nishad Singh, Luc Cohen, Jody Godoy, Will Dunham, Daniel Wallis Organizations: U.S . Justice, U.S, District, Massachusetts Institute of Technology, Marshals, Stanford Law, Prosecutors, Alameda Research, Former Alameda, Thomson Locations: Manhattan, Bankman, New York City, U.S, FTX, Alameda, New York, Lincoln

☆ Sam Bankman Fried’s fate is now officially in the hands of 12 jurors
▼ + stars: | 2023-11-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —Sam Bankman-Fried’s fate is now officially in the hands of a jury of his peers. Chief among those errors, according to his own testimony, was was not hiring a dedicated risk management team. “I made a number of small mistakes and a number of larger mistakes,” Bankman-Fried said on the stand last week. Although Bankman-Fried made mistakes, he never defrauded anyone, Cohen told jurors. “Poor risk management is not a crime.”Bankman-Fried’s parents, Barbara Fried and Joseph Bankman, were both in the courtroom again Thursday.

Persons: Sam Bankman, Lewis Kaplan, Kaplan, Fried, ”, They’ve, “, Danielle Sassoon, Mark Cohen, Cohen, ” Cohen, Barbara Fried, Joseph Bankman, Bankman, — Sabrina Souza Organizations: New, New York CNN, Prosecutors, Alameda Research Locations: New York, Manhattan, FTX, Alameda

☆ Sam Bankman-Fried ‘told you a story, and he lied to you,’ prosecutors tell the jury
▼ + stars: | 2023-11-01 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

US Assistant Attorney Nicholas Roos presented the government’s view that Bankman-Fried is guilty of stealing money and engaging his business partners in a cover-up. The fraud, according to the government, was happening behind the scenes, while Bankman-Fried’s other firm, Alameda Research, was secretly siphoning money from customer deposits. “The answer is clear: He took the money, he knew it was wrong, he did it anyway,” Roos said. Repeatedly, Bankman-Fried told reporters, customers, investors and lawmakers that customer deposits were safe. As Roos spoke to the jury, Bankman-Fried kept his eyes trained on his laptop, occasionally typing and scrolling.

Persons: Sam Bankman, Nicholas Roos, Fried, Roos, —, ’ Roos, “, ” Roos, ”, Fried “, FTX, Joseph Bankman, Barbara Fried Organizations: New, New York CNN, Bankman, Alameda Research Locations: New York, FTX, Alameda

☆ Sam Bankman-Fried trial: scenes from Caroline Ellison's time on the stand
▼ + stars: | 2023-10-12 | 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: +3 min

Ellison wore a gray blazer and carried a Poland Spring water bottle to and from the witness stand. She did not look at Bankman-Fried in any of the instances when she passed him at the defense table. Bankman-Fried spent much of Ellison's testimony typing on a laptop or whispering to his defense lawyers. Three of the jurors appeared to close their eyes at times as Sassoon quizzed Ellison about spreadsheets showing Alameda's assets and liabilities. Reporting by Luc Cohen in New York; Editing by Noeleen Walder and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Caroline Ellison, Sam Bankman, Ellison, District Judge Lewis Kaplan's, Fried, Kaplan, Joseph Bankman, Barbara Fried, Danielle Sassoon, Sassoon quizzed Ellison, We'll, " Sassoon, Luc Cohen, Noeleen Walder, Matthew Lewis Organizations: Alameda, Federal Court, Reuters, Alameda Research, District, The Stanford University, Stanford Law, Thomson Locations: New York City, U.S, Alameda, New York

☆ Inside Sam Bankman-Fried's $35 million crypto frat house in the Bahamas
▼ + stars: | 2023-10-10 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +11 min

Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Lawyers for the U.S. Attorney's office entered into evidence a series of photos featuring the $35 million penthouse where Sam Bankman-Fried and his fellow co-workers resided. Lawyers for the U.S. Attorney's office entered into evidence photos featuring Sam Bankman-Fried and his fellow co-workers at their shared $35 million Bahamian penthouse. In his testimony, Yedidia recalled a group Signal thread labeled "People of the House," which referred to Bankman-Fried's $35 million penthouse. Zoom In Icon Arrows pointing outwards Exhibit from the prosecution shows Signal thread called "People of the House," referring to Bankman-Fried's $35 million penthouse, where many employees lived.

Persons: Sam Bankman, Fried, Gary Wang, Adam Yedidia, Caroline Ellison, She's, somethings, Lewis Kaplan, Yedidia, it's, Ryan Salame, Joseph Bankman, Barbara Fried, Bankman, John Ray, Ray, Tiger Woods, Justin Timberlake, Michael Lewis, Lewis, napping, Mark Cohen, FTX, Ellison, hadn't Organizations: U.S, Southern, of, Lawyers, Alameda Research, Massachusetts Institute of Technology, MIT, SDNY, Bankman, Alameda, New Providence, FTX, Enron, Capitol, Prosecutors Locations: Bahamas, Manhattan, He's, of New York, Bankman, FTX, Alameda, Hong Kong, Caribbean, New Providence, New, U.S, Albany, oceanside

NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX. The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. He added that Bankman-Fried had directed him to implement the changes giving Alameda special privileges. Wang, 30, is the first of three former close associates of Bankman-Fried to testify at the trial, which began on Tuesday. Wang said Bankman-Fried decided to name the firm Alameda Research because it "makes it easier to do business if the name doesn't mention trading or cryptocurrency."

Persons: Sam Bankman, Gary Wang, Fried, Wang, FTX, FTX's, Mark Cohen, Matt Huang, Huang, Bankman, Nishad Singh, Caroline Ellison, Alameda's, Adam Yedidia, Yedidia, Sam, Joseph Bankman, Barbara Fried, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Alameda Research, Alameda, Massachusetts Institute of Technology, Prosecutors, MIT, Stanford Law, Thomson Locations: Alameda, tatters, Manhattan, FTX, China, United States, Bahamas, Yedidia, New York

[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 Trial appears at Federal Court in New York on Oct. 4th, 2023. Two years later, Julliard stood as the prosecution's first witness in the criminal fraud trial against FTX founder Sam Bankman-Fried, who's accused of misusing billions of dollars in client money. He and thousands of other FTX customers were practically wiped out when the exchange went belly up late last year. Allan Joseph Bankman, father of FTX Co-Founder Sam Bankman-Fried, and Barbara Fried, mother of FTX Co-Founder Sam Bankman-Fried, arrive at court in New York, US, on Wednesday, Oct. 4, 2023. WATCH: Sam Bankman-Fried criminal trial begins in New York

Persons: Sam Bankman, Claudia Johnson Marc, Antoine Julliard, Julliard, who's, FTX, Gisele Bündchen, Fried, Jane Rosenberg, Sam, Mark Cohen, Cohen, Attorney Thane, Rehn, Alameda's, Caroline Ellison, Allan Joseph Bankman, Barbara Fried, Stephanie Keith, Ellison's, Sam Trabucco, Trabucco, Rein, Adam Yedidia, Bankman, Yedida, hadn't, Gary Wang Organizations: Court, FTX, Federal Court, Reuters Defense, Alameda Research, Bankman, Assistant U.S, Attorney, Capitol, U.S, Bloomberg, Getty, MIT, Massachusetts Institute of Technology, Prosecutors Locations: New York, London, Manhattan, FTX, New York City, U.S, Alameda, Attorney Thane Rehn, Rehn

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

On day one of Sam Bankman-Fried's criminal trial, assistant U.S. attorney, Danielle Sassoon, rattled off a lengthy list of potential witnesses who might be called to testify for either the government or the defense. The list, which was compiled jointly by both sides, was released during the afternoon session and included Bankman-Fried's brother, Gabe, as well his parents, Allan Joseph Bankman and his wife, Barbara Fried. Parents of the disgraced former CEO of FTX are themselves the subject of new scrutiny. Other entities that may take the witness stand included various venture funds and crypto-focused companies like Genesis, Lightspeed Venture Partners, Ontario Teachers Pension Fund, Third Point, Signature Bank, and Voyager Digital. Many of these businesses were hurt or wiped out by the collapse in cryptocurrency prices triggered in part by FTX's implosion.

Persons: Sam Bankman, Danielle Sassoon, Gabe, Allan Joseph Bankman, Barbara Fried, Ellison, FTX, Wang, Anthony Scaramucci, Fried Alfred Lin, Sequoia Capital Zac Prince, Michael Lewis Organizations: Alameda Research, U.S, SkyBridge, Sequoia Capital, Lightspeed Venture Partners, Ontario, Pension Fund, Signature Bank, Voyager Locations: Bankman, 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."

☆ 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 parents are embroiled in the crypto exchange's troubles. Here's what we know about the Stanford Law professors.
▼ + stars: | 2023-09-22 | by ( Grace Dean | Huileng Tan | ) www.businessinsider.com time to read: +2 min

FTX has sued Sam Bankman-Fried's parents, seeking to recover millionsBarbara Fried and Joseph Bankman. Michael M. Santiago/Getty ImagesFTX co-founder Sam Bankman-Fried has been embroiled in legal troubles since the collapse of the cryptocurrency exchange in November. Now, Bankman-Friend's parents — longtime Stanford law professors Joseph Bankman and Barbara Fried — are caught up in FTX's troubles too. The complaint filed in the collapsed cryptocurrency exchange's bankruptcy case in Delaware seeks to recover some damages from Bankman and Fried. Legal representatives for Bankman and Fried did not immediately to a request for comment from Insider sent outside regular business hours.

Persons: FTX, Sam Bankman, Barbara Fried, Joseph Bankman, Michael M, Fried, —, Barbara Fried —, Joe, Barbara Organizations: Stanford, FTX, Bankman, Associated Press Locations: Bahamas, Delaware

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