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☆ The 9 locations around the world where sharks attack most, from Florida to Western Australia
▼ + stars: | 2023-09-29 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +7 min

The risk of being bitten by a shark is low, and deaths from a shark attack are rare. Insider has taken a look at the locations where the most shark attacks occur across the globe. Insider has taken a look at some of the major shark attack hot spots around the world, from Australia to the Bahamas. The ISAF says that the US tops the charts for "confirmed unprovoked" shark attacks since 1580, with a recorded 1,604 incidents. Peter Unger/Getty ImagesA woman was killed in a second fatal shark attack in the area of Plettenberg Bay in 2022.

Persons: —, Walt Harden, Mark Sumersett, I've, Simon Nellist, Peter Unger, Kimon Bisogno, Sara Andreotti, Pawel Toczynski, Kim Mahbouli, Alexis Rosenfeld, Katarina Zarutskie Organizations: Service, Sunshine State, Florida, ISAF, Australia Australia, New, CNN, Getty, South, Palmetto State, Hilton Head Hospital, Hilton Head Island Government, New York Times, South Africa's Stellenbosch University, CBS News, Smithsonian Magazine, Daily Star, BBC Locations: Florida, Australia, Bahamas, Florida Florida, Smyrna Beach , Florida, Volusia County, ISAF, New Smyrna, New South Wales, Western Australia, Victoria, Little Bay, Sydney, Hawaii, Pacific, South Carolina, Sea Pines, Hilton, Carolina, North Carolina, South Africa, California, Africa, Plettenberg Bay, Plettenberg, France, London, Brazil Brazil, Brazil, Caribbean, American

☆ I Paid for My Dream Honeymoon With Credit Card Points—Here’s How I Did It
▼ + stars: | 2023-09-28 | by ( Emily Sherman | ) www.wsj.com time to read: +6 min

Our first year of dating, we took a spontaneous trip to Iceland paid for with points from a Chase Sapphire Preferred card (his) and Capital One Venture X Rewards Credit Card (mine). Capital One Venture X Rewards Credit Card Learn More Base rewards rate: 2xBonus rewards: 10x on hotels and rental cars, plus 5x on flights, if booked through Capital One; 10,000-mile annual bonus. After researching a number of hotel-branded cards, the $99 a year IHG One Rewards Premier Credit Card emerged as the best fit for this trip. Sign-up bonus: 140,000 bonus points after you spend $3,000 in the first three months. With a few weeks to go before the big day, I’m excited to say our trip is booked and paid for almost entirely with credit card points.

Persons: Emily Sherman, I’ve Organizations: Texas Capitol, Chase Sapphire, Venture, Air Tahiti, Intercontinental Tahiti Locations: Texas, Iceland, Austin , Texas, Maldives, Polynesia, IHG

☆ Who is Caroline Ellison, a key witness set to testify against Sam Bankman-Fried?
▼ + 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: +5 min

Now, a year after Alameda collapsed, Ellison is preparing to testify as a key witness at the Oct. 3 criminal fraud trial against its founder, another budding young philanthropist who also owned the now-bankrupt FTX cryptocurrency exchange: Sam Bankman-Fried. She told the FTX podcast she decided to join Bankman-Fried at Alameda despite lacking experience with cryptocurrencies to "maximize my impact." ELLISON MAY TESTIFY ABOUT ENCRYPTED MESSAGESProsecutors may ask Ellison about whether Bankman-Fried directed employees to use encrypted messaging platforms and ensure their messages automatically deleted. She has told prosecutors that Bankman-Fried said it is hard to build a case if information is not written down or preserved, court records show. Days before FTX declared bankruptcy, Ellison told Bankman-Fried her "increasing dread of this day" had been weighing on her for a long time, according to prosecutors.

Persons: Sam Bankman, Eduardo Munoz, Caroline Ellison, Ellison, Bankman, Alameda's, Sam, ELLISON, Jane Street, Harry Potter, Fried, Jane, FTX, Kaplan, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: REUTERS, Stanford, Alameda Research, Alameda, Prosecutors, Massachusetts Institute of Technology, New York Times, Thomson Locations: New York, U.S, Alameda, Bahamas, Manhattan, Boston, Fried, FTX

☆ 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'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

BARCELONA, Spain (AP) — Spanish prosecutors have charged pop star Shakira with failing to pay 6.7 million euros ($7.1 million) in tax on her 2018 income, authorities said Tuesday, in Spain’s latest fiscal allegations against the Colombian singer. Shakira is alleged to have used an offshore company based in a tax haven to avoid paying the tax, Barcelona prosecutors said in a statement. In that case, prosecutors allege she failed to pay 14.5 million euros ($15.4 million) in tax. Political Cartoons View All 1179 ImagesSpanish tax officials opened the latest case against Shakira last July. Spain tax authorities have over the past decade or so cracked down on soccer stars like Lionel Messi and Cristiano Ronaldo for not paying their full due in taxes.

Persons: Shakira, Llorente y, “, ” Shakira, Shakira Isabel Mebarak Ripoll, Gerard Pique, Lionel Messi, Cristiano Ronaldo Organizations: Prosecutors Locations: BARCELONA, Spain, Colombian, Barcelona, Miami, Bahamas, Llorente y Cuenca

☆ Sam Bankman-Fried's mom says prosecutors and bankruptcy estate are 'McCarthyite' and on a 'relentless pursuit of total destruction'
▼ + stars: | 2023-09-26 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Barbara Fried said the prosecutors and FTX Debtors were on a "relentless pursuit of total destruction." AdvertisementAdvertisementSam Bankman-Fried's mom hit out at prosecutors and the FTX Debtors ahead of the crypto-exchange founder's trial next Tuesday, The New Yorker reported. In an email to the publication, Barbara Fried described the prosecutors and bankruptcy estate as "McCarthyite" and on a "relentless pursuit of total destruction." AdvertisementAdvertisementThe FTX Debtors filed a lawsuit against Bankman-Fried's parents last Monday, accusing them of siphoning millions of dollars from the crypto exchange. The FTX Debtors and Fried's attorney did not immediately respond to Insider's request for comment, sent outside US working hours.

Persons: Sam Bankman, Barbara Fried, —, Joe Bankman, FTX, Fried, Sam, Joe doesn't Organizations: Service, Yorker, Bankman, PAC, New Locations: Bahamas, New Yorker, Alameda

☆ I reluctantly went on my first cruise vacation. It was surprisingly fun, but the crowding was intense.
▼ + stars: | 2023-09-25 | by ( Haley Tenore | ) www.businessinsider.com time to read: +6 min

But I was recently persuaded to book a cruise vacation — and I was surprised by how much I enjoyed it. Haley TenoreThe ship had several dining options, including a buffet, a dining room, room service, and a Ben and Jerry's kiosk that also served Starbucks coffee. I wouldn't write off going on another cruise, but I think I prefer planning my own trips. If I'm going to a new city, state, or country, I like to be able to plan where I'm gonna go, how long I'm going to spend there, how much money I will spend, and when I'm going to need downtime. AdvertisementAdvertisementDo you cruise, or work on a cruise ship, and have a story to share?

Persons: I've, Christopher Biggs, CocoCay, Haley Tenore, Ben, —, I'm Organizations: Caribbean's, Service, Royal Caribbean's, Royal Caribbean, Admiral Cruises, Royal, New Locations: Bahamas, Baltimore, Nassau, CocoCay, Royal Caribbean, mealtimes

☆ Why this small Florida county became the 'shark bite capital of the world'
▼ + stars: | 2023-09-23 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

Florida's Volusia County is known as the "shark bite capital of the world." The area is a hot spot for shark attacks, especially on September afternoons, per the ISAF. Data from the Florida Museum's International Shark Attack File (ISAF), which describes itself as "the world's only scientifically documented, comprehensive database of all known shark attacks," shows that Florida is the global leader in shark attacks, with 259 from 2012 to 2021, well ahead of Australia in second place. But it is in Volusia County — which includes the renowned Daytona Beach and New Smyrna Beach — on Florida's east coast that has been dubbed the "shark bite capital of the world." The sharks that hunt the waters of Volusia County and are mostly involved in biting incidents include Blacktip, Bull, and Requiem sharks.

Persons: Gavin Naylor, Menhaden, Naylor, It's, surfboards, Carlos Grillo, Mark Summersett, Alex Miller, Miller, Summersett, I've, Sumersett Organizations: ISAF, The Florida, of Shark Research, Service, Sunshine, Florida, Daytona Locations: Volusia County, Wall, Silicon, Florida, Australia, Volusia County —, and New Smyrna, —, Florida's, Brevard, Volusia, Ponce, ISAF, Tiger Beach, Bahamas, New Smyrna Beach

☆ 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

☆ Sam Bankman-Fried's mom encouraged him to skirt donation rules and give millions to the PAC she chaired, lawsuit claims
▼ + stars: | 2023-09-21 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

FTX lawyers are suing Sam Bankman-Fried's parents, saying they were wrongly paid millions. The lawsuit says SBF's mom encouraged him to avoid federal campaign finance disclosure rules. Lawyers handling the crypto exchange's bankruptcy case are suing Bankman-Fried's parents, Joe Bankman and Barbara Fried, accusing them of siphoning millions of dollars from company funds. The lawsuit also accuses Fried of encouraging her son to "avoid (if not violate) federal campaign finance disclosure rules." Singh and Salame have pleaded guilty to campaign finance violations.

Persons: Sam Bankman, Bankman, Joe Bankman, Barbara Fried, Fried, —, Nishad Singh, Ryan Salame, Singh, Salame, Caroline, Sean Hecker, Michael Tremonte, Tremonte Organizations: Service, Lawyers, Democratic, Bankman, Forbes Locations: Wall, Silicon, Bahamas, Delaware

☆ At UN, Kenya's president asks world not to leave Haiti behind
▼ + stars: | 2023-09-21 | by ( Michelle Nichols | ) www.reuters.com time to read: +3 min

Kenya's President William Samoei Ruto addresses the 78th Session of the U.N. General Assembly in New York City, U.S., September 21, 2023. The council could vote as soon as next week, diplomats said, on a U.S.-drafted resolution supporting a multinational police deployment. Haiti last year asked for help to combat violent gangs that have largely overrun the capital Port-au-Prince. "As we mobilize to show up for Ukraine, and countries that have experienced the devastating impact of climate shocks including Libya, Morocco and Hawaii, we must not leave Haiti behind," Ruto said. U.N. peacekeepers were deployed to Haiti in 2004 after a rebellion led to the ouster and exile of then-President Jean-Bertrand Aristide.

Persons: William Samoei Ruto, Brendan McDermid, William Ruto, Ruto, U.N, Antonio Guterres, Guterres, Ariel Henry, Jean, Bertrand Aristide, Michelle Nichols, Grant McCool Organizations: General Assembly, REUTERS, UNITED NATIONS, Kenyan, United Nations Security, General, Peacekeeping, Thomson Locations: New York City, U.S, Haiti, Kenya, Caribbean, Ukraine, Libya, Morocco, Hawaii, Bahamas, Jamaica, Antigua, Barbuda, Americas

☆ At UN, Kenya's President Asks World Not to Leave Haiti Behind
▼ + stars: | 2023-09-21 | by ( Sept. | At P.M. | ) www.usnews.com time to read: +2 min

By Michelle NicholsUNITED NATIONS (Reuters) - Kenyan President William Ruto urged the United Nations Security Council on Thursday to formally back a security support mission to Haiti, which Kenya has shown a willingness to lead, saying the Caribbean country "deserves better from the world." The council could vote as soon as next week, diplomats said, on a U.S.-drafted resolution supporting a multinational police deployment. Haiti last year asked for help to combat violent gangs that have largely overrun the capital Port-au-Prince. "As we mobilize to show up for Ukraine, and countries that have experienced the devastating impact of climate shocks including Libya, Morocco and Hawaii, we must not leave Haiti behind," Ruto said. U.N. peacekeepers were deployed to Haiti in 2004 after a rebellion led to the ouster and exile of then-President Jean-Bertrand Aristide.

Persons: Michelle Nichols UNITED, William Ruto, Ruto, U.N, Antonio Guterres, Guterres, Ariel Henry, Jean, Bertrand Aristide, Michelle Nichols, Grant McCool Organizations: Michelle Nichols UNITED NATIONS, Reuters, Kenyan, United Nations Security, General, Peacekeeping Locations: Haiti, Kenya, Caribbean, U.S, Ukraine, Libya, Morocco, Hawaii, Bahamas, Jamaica, Antigua, Barbuda, Americas

☆ Sam Bankman-Fried's dad emailed his son that he didn't know 'what to say' after finding he'd be paid $200,000 instead of $1 million by FTX — then looped in SBF's mom, lawsuit claims
▼ + stars: | 2023-09-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Sam Bankman-Fried's dad was not happy about his $200,000 salary at now-bankrupt crypto firm FTX, a lawsuit claims. In emails cited in the lawsuit, Joseph Bankman said he believed he would be paid $1 million by FTX. He then looped in Barbara Fried, his partner and Bankman-Fried's mom. Bankman and Fried enjoyed the benefits of more than $90,000 in expenses, paid for by FTX Trading, for their Bahamas residence." FTX group and Bankman-Fried's trading firm Alameda Research filed for bankruptcy in November 2022 with the founder stepping down from his role as CEO.

Persons: Sam Bankman, Joseph Bankman, Barbara Fried, FTX, Bankman, Fried, Gee, Sam, Barbara, Sean Heckler, Michael Tremonte, Joe Organizations: FTX, Service, Alameda Ltd, Stanford University, Alameda Research Locations: Wall, Silicon, FTX, Alameda, Bahamas

☆ Stanford University says it will return the 'entirety' of millions of dollars in gifts it received from bankrupt crypto firm FTX
▼ + stars: | 2023-09-20 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Stanford University has said it plans to return millions of dollars in gifts it received from FTX. According to a lawsuit, the university received $5.5 million from the now-bankrupt crypto firm. Co-founder Sam Bankman-Fried's parents both held teaching roles at the prestigious California university. A spokesperson for Stanford University responded to the lawsuit in an emailed statement to Bloomberg: "Stanford received gifts from the FTX Foundation and FTX-related companies largely for pandemic-related prevention and research." AdvertisementAdvertisementInsider contacted Stanford University for comment but did not immediately hear back outside of regular working hours

Persons: Sam Bankman, — Allan Joseph Bankman, Barbara Fried, Bankman, Stanford, Fried Organizations: Stanford University, Service, Bloomberg News, CNN, Stanford, FTX Group, Bloomberg, FTX Foundation, FTX, Alameda Research Locations: FTX, California, Wall, Silicon, Bahamas, Brooklyn

☆ Sam Bankman-Fried's parents are accused of siphoning millions of dollars from FTX
▼ + stars: | 2023-09-19 | by ( Will Gendron | Associated Press | ) www.businessinsider.com time to read: +5 min

The fallout of FTX's implosion continues, with Sam Bankman-Fried's parents now facing a lawsuit. Barbara Fried and Allan Joseph Bankman were accused of siphoning millions of dollars from the firm. FTX entered bankruptcy in November when the global exchange ran out of money after the equivalent of a bank run. "And together, Bankman and Fried siphoned millions of dollars out of the FTX Group for their own personal benefit and their chosen pet causes." Mr. Ray and his massive team of lawyers, who are collectively running up countless millions of dollars in fees while returning relatively little to FTX clients, know better."

Persons: Sam Bankman, Barbara Fried, Allan Joseph Bankman, SBF's, FTX, Fried, Bankman, John Ray III, Joe, Barbara, Ray Organizations: Service, FTX, Stanford University, Alameda Research, Stanford, FTX Group, Bankman Locations: Wall, Silicon, Bahamas, Delaware, Manhattan, Alameda, FTX, Brooklyn

☆ FTX sues Sam Bankman-Fried’s parents
▼ + stars: | 2023-09-19 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

New York CNN —Bankrupt crypto exchange FTX is suing founder Sam Bankman-Fried’s parents, accusing them of siphoning millions of dollars in company funds to enrich themselves and their “pet causes.”The lawsuit aims to recover funds that the company claims were “fraudulently transferred and misappropriated” by Bankman-Fried’s parents. FTX collapsed into bankruptcy in November last year as questions about its finances rattled crypto markets and prompted a sudden, massive drawdown of customer funds. Despite Bankman-Fried’s assertions that his parents weren’t involved in “any of the relevant parts” of FTX, the lawsuit claims that his parents played a role from the beginning. She described herself as her son’s “partner in crime of the noncriminal sort,” the lawsuit claims. In April, FTX told the bankruptcy court it had recovered $7.3 billion in assets.

Persons: Sam Bankman, “, Joe Bankman, Barbara Fried, Fried, Joe, Barbara, FTX, weren’t, Bankman, …, ” Fried, Fried’s, John J, Ray III, ”, Ray Organizations: New, New York CNN, Stanford, Southern, of, Bankman, FTX Group, Super Bowl, Alameda Research Locations: New York, of New York, Bahamas, FTX

[1/4] Joseph Bankman, father of Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, leaves the courthouse, after U.S judge revoked Bankman-Fried's bail, in New York, U.S., August 11, 2023. FTX, now being led by turnaround specialist John Ray, said that company founder Sam Bankman-Fried ran FTX as a "family business" and misappropriated billions in customer funds for the benefit of a small circle of insiders, including his parents. Sam Bankman-Fried has pleaded not guilty to charges that he defrauded FTX customers by using their funds to prop up his own risky investments. Bankman and Fried also pushed FTX to make tens of millions of dollars in charitable contributions, including to Stanford University, FTX said. FTX has recovered more than $7 billion in assets to repay customers, and it is pursuing additional recoveries through lawsuits against FTX insiders and other defendants that received money from FTX before it went bankrupt.

Persons: Joseph Bankman, Sam Bankman, Eduardo Munoz, Stanford, Barbara Fried, John Ray, Fried, Sean Hecker, Michael Tremonte, Joe, Barbara, " Hecker, Tremonte, Bankman, FTX, Dietrich Knauth, Nick Zieminski Organizations: REUTERS, Monday, Stanford University, Stanford Law School, Thomson Locations: New York, U.S, Bahamas, FTX

NEW YORK (AP) — A federal appeals court in Manhattan seemed unreceptive Tuesday to arguments that FTX founder Sam Bankman-Fried should be released on bail before his trial starts in two weeks so he can better prepare for trial. “You can’t prepare for trial this way, your honor, you just can’t,” Cohen said. Circuit Judge Denny Chin asked if there was a First Amendment right “to influence or discredit a witness who may testify against you. The 2nd Circuit did not immediately rule. ___For more AP coverage of Sam Bankman-Fried: https://apnews.com/hub/sam-bankman-fried

Persons: Sam Bankman, Judge Lewis A, Kaplan, FTX, Caroline Ellison, Mark Cohen, ” Cohen, William J, Nardini, ” Nardini, Denny Chin, John M, Walker Jr, Fried, ” Organizations: —, U.S, Circuit, Alameda Research Locations: Manhattan, Palo Alto , California, United States, Bahamas, Washington

☆ FTX sues Sam Bankman-Fried's parents, aims to claw back some of the $26 million in gifts and property
▼ + stars: | 2023-09-19 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +5 min

Barbara Fried, mother of Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, leaves the courthouse, after a U.S judge revoked Bankman-Fried's bail, New York, Aug. 11, 2023. Bankrupt crypto exchange FTX is looking to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from the parents of Sam Bankman-Fried, the exchange's disgraced ex-CEO and founder. The filing characterizes the correspondence as Bankman lobbying his son to "massively increase his own salary." Bankman-Fried himself independently faces multiple wire and securities fraud charges related to the alleged multibillion-dollar FTX fraud. Bankman and Fried "either knew — or ignored bright red flags revealing — that their son, Bankman-Fried, and other FTX Insiders were orchestrating a vast fraudulent scheme," the lawsuit said.

Persons: Barbara Fried, Sam Bankman, Allan Joseph Bankman, Fried, Sam's, Bankman, Gee, Sam, Barbara, Damian Williams, Joe, Ray Organizations: Bankruptcy, District of, FTX, Administration, Stanford University, Group, Stanford Law School, The U.S . Department of Justice, Bankman, CNBC Locations: New York, U.S, District of Delaware, Bahamas, Alameda, The, Manhattan, Bankman

FTX entered bankruptcy in November when the global exchange ran out of money after the equivalent of a bank run. Several other former FTX executives have pleaded guilty to fraud and conspiracy charges and are cooperating with investigators. The scheme involved Bankman-Fried receiving a loan from Alameda, then transferring the money to his parents. According to FEC records, Singh contributed roughly $9.7 million in 2022 and in late 2020 to various candidates and committees. The judge revoked Bankman-Fried’s bail last month after finding probable cause that he had tampered with witnesses.

Persons: Sam Bankman, ”, Allan Joseph Bankman, Barbara Fried, FTX, Fried, Bankman, ’, “ Bankman, John Ray III, Joe, Barbara, Ray, “ Fried, Nishad Singh, ” Singh, Singh, Ryan Salame Organizations: —, FTX, Stanford University, Alameda Research, Stanford, FTX Group, Bankman, FEC, FTX Digital Markets Locations: Del, Bahamas, Delaware, Manhattan, Alameda, FTX

☆ Tsegay, Duplantis topple records at Eugene Diamond League
▼ + stars: | 2023-09-17 | by ( ) www.reuters.com time to read: +3 min

Sept 17 (Reuters) - Gudaf Tsegay smashed the women's 5,000 metres world record and Armand Duplantis raised the bar again for the men's pole vault on Sunday, as the season-ending Eugene Diamond League meet concluded on a high. Shericka Jackson came off the turn with a massive lead to retain her women's 200 metres Diamond League championship title in 21.57, but came short of her goal to break Florence Griffith-Joyner's world record. The Jamaican Jackson won the 100 metres Diamond League championship a day earlier and finished more than half a second ahead of Ivorian Marie-Josee Ta Lou on Sunday, as Anthonique Strachan of the Bahamas took third in 22.16. The Canadian Arop finished five hundredths of a second slower and Algerian Djamel Sedjati took third in 1:43.06. Dutch World Champion Femke Bol collected her third Diamond League championship with a confident 51.98 performance in the 400 metres hurdles, as American Shamier Little took second in 53.45 and Jamaican Rushell Clayton finished third in 53.56.

Persons: Tsegay, Armand Duplantis, Eugene Diamond, Sweden's Duplantis, Shericka Jackson, Florence Griffith, Jackson, Ivorian Marie, Josee, Lou, Anthonique Strachan, Andre De, Kenny Bednarek, Erriyon Knighton, It’s, De, Mu, Britain's Keely Hodgkinson, Toppin, Kenyan Emmanuel Wanyonyi, Marco Arop, Canadian Arop, Djamel Sedjati, Femke Bol, Little, Rushell Clayton, Yaroslava, Joe Kovacs, Ryan Crouser, Amy Tennery Organizations: Eugene Diamond League, Kenyan, Diamond, Diamond League, Bahamas, Canadian, Thomson Locations: Budapest, Ivorian, Andre De Grasse, Canada, United States, Tokyo, De Grasse, Ukrainian, New York

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