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☆ The Rise of FTX, and Sam Bankman-Fried, Was a Great Story. Its Implosion Is Even Better.
▼ + stars: | 2023-05-16 | by ( Alexandra Alter | ) www.nytimes.com time to read: +1 min

Since they arrested Sam, I’ve been back three or four times, and it gets better and better because everyone gets looser and looser. When he was arrested, did you worry that it might blow up your book, or make it better? I did think, just how messy is this going to get, as the writer, because I’d been so involved. Nobody watched this the way I did, so, was I going to be dragged into this in some way? But I’ve been allowed to do my job, and it’s been one of the most exciting creative experiences I’ve ever had.

☆ FTX Founder Sam Bankman-Fried Seeks Dismissal of Criminal Charges
▼ + stars: | 2023-05-09 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

Sam Bankman-Fried arrived at Manhattan Federal Court for a court appearance in March. Photo: Michael M. Santiago/Getty ImagesFTX founder Sam Bankman-Fried asked a New York federal judge to dismiss most of the criminal case against him, saying the Justice Department brought flawed charges in a rush to indict him after the collapse of the crypto exchange. Lawyers for Mr. Bankman-Fried, in a series of motions Monday night, requested that many of the counts against their client be tossed out, arguing that some charges violated the terms of his extradition from the Bahamas while others didn’t meet the legal requirements of underlying criminal statutes.

Prosecutors have until May 29 to respond to Bankman-Fried's dismissal request, and Kaplan will hear arguments on June 15. EXTRADITIONBankman-Fried has acknowledged that FTX had inadequate risk management but denies stealing funds, and has sought to distance himself from FTX's day-to-day operations. In pleading guilty, Singh admitted to making political donations in his own name that were funded in part by transfers from Alameda. "The campaign finance allegations reveal, yet again, the consequences of the Government's rush to indict Mr. Bankman-Fried," his lawyers wrote. Bankman-Fried has largely been confined to his parents' home since his December arrest in the Bahamas, where he had lived and where FTX was based.

FTX imploded after a flurry of customer withdrawals in the wake of reports it had commingled assets with Alameda Research, Bankman-Fried's crypto-focused hedge fund. The Massachusetts Institute of Technology graduate has pleaded not guilty to 13 counts of fraud and conspiracy. He has acknowledged that FTX had inadequate risk management but denies stealing funds, and has sought to distance himself from FTX's day-to-day operations. Three onetime close associates - former Alameda co-chief executive Caroline Ellison, former FTX technology chief Gary Wang, and former FTX engineering chief Nishad Singh - have all pleaded guilty and agreed to cooperate with prosecutors. Bankman-Fried has limited access to technology, after prosecutors warned he might tamper with witnesses.

☆ A cruise ship passenger found a hidden camera that had filmed over 150 people changing or using the bathroom. A man was arrested after the FBI said video showed him setting it up.
▼ + stars: | 2023-05-09 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +3 min

A passenger on a Royal Caribbean cruise spotted a hidden camera in a public bathroom. The FBI said the video showed adults and minors as young as 4 years old changing. A man was arrested Wednesday after officials say he set up a hidden camera in a public cruise ship bathroom and recorded more than 150 people, including minors, before another passenger spotted it, court records showed. The camera was placed in a public bathroom on the top deck of the Harmony of the Seas. In 2018, a couple from Florida said they found a hidden camera pointing at the bed of their cabin on a Carnival cruise ship.

☆ Lawyer for Tiger Woods' ex-girlfriend, Erica Herman, alleges in court she has more details about sexual harassment claims against the golfer but says NDA is keeping her silent
▼ + stars: | 2023-05-09 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +8 min

Under the federal law, judges can rule NDAs unenforceable in instances of sexual harassment or assault. Herman has alleged sexual harassment occurred during her relationship with Woods, both in how it started and how it ended. They've asked for the lawsuit to be dismissed and called the sexual harassment claims "utterly meritless." "A boss imposing different work conditions on his employee because of their sexual relationship is sexual harassment," Herman's attorneys argue in the court filing. She was then locked out of the house, away from her personal property and pets, court documents allege.

☆ Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan links
▼ + stars: | 2023-05-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

A hedge fund manager was awarded $203 million in damages after being defamed by former neighbor Peter Nygard. Disgraced fashion mogul Nygard accused Louis Bacon of arson, insider trading and links to the KKK. The decade-long dispute began following a quarrel over a driveway Nygard and Bacon shared. A hedge fund billionaire has been awarded $203 million after a New York court ruled he was defamed by his former Bahamas neighbor Peter Nygard following a decade-long feud ignited by a shared driveway. Lawyers told the court Bacon had spent more than $50 million in legal fees bringing several defamation cases against Nygard.

☆ Tiger Woods is accused of sexual harassment by ex-girlfriend, according to court document
▼ + stars: | 2023-05-07 | by ( Jacob Lev | ) edition.cnn.com time to read: +3 min

CNN —Erica Herman, who was a longtime girlfriend of professional golfer Tiger Woods, has accused the 15-time major champion of sexual harassment, according to a court filing by Herman’s attorney in Florida on Friday. Woods is accused of pursuing a sexual relationship with Herman while she worked for him and then forcing her to sign a non-disclosure agreement or she’d be fired from her job, according to the document. The document also alleges a “scheme” used against Herman last year where Woods asked her to pack for a weekend getaway to the Bahamas. In an earlier briefing, Herman cited a statute that says plaintiffs in sexual harassment or assault disputes cannot be compelled to arbitrate those claims. The most recent suit, filed in March, Herman argues the 2017 agreement is not enforceable in part because of a new federal law invalidating arbitration clauses in sexual assault or sexual harassment cases.

☆ Take a look inside Tommy Hilfiger's $46 million superyacht that you can charter from $444,000 a week
▼ + stars: | 2023-05-06 | by ( Jyoti Mann | ) www.businessinsider.com time to read: 1 min

Luxury real-estate YouTuber Enes Yilmazer and his team spent four days on Tommy Hilfiger's yacht. The vessel's called Flag and is on sale with Burgess for $46 million. Enes YilmazerThe group toured the yacht and interviewed Tommy and Dee Hilfiger while on the trip in the Bahamas last month. The yacht is 62 meters (203 feet) long and 10 meters wide. It was built in 2000 by Feadship and has 7 state bedrooms, 6 state guest rooms, and an owner's suite.

☆ Hedge-Fund Manager Louis Bacon Awarded $203 Million in Defamation Case
▼ + stars: | 2023-05-05 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

Hedge-fund manager Louis Bacon, pictured on left, in 2013; former retail mogul Peter Nygard in 2016. Photo: Charles Eshelman/FilmMagic/Getty Images; Phillip Faraone/Getty ImagesHedge-fund manager Louis Bacon was awarded $203 million in damages and legal fees in a defamation case against former retail mogul Peter Nygard that stems from the two men’s long-running feud over neighboring properties in the Bahamas. A New York state court-appointed referee ordered Mr. Nygard this week to pay the amount, saying he orchestrated a yearslong campaign to destroy Mr. Bacon’s reputation. Mr. Nygard falsely asserted that the financier was a member of the Ku Klux Klan, had been found guilty of insider trading, was involved in the death of an employee and a family friend at his Bahamas home and had been implicated in arson, the referee said in his decision.

☆ 'Queer Eye' producers are diving into the world of professional mermaiding for new Netflix doc series
▼ + stars: | 2023-04-28 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

The producers of "Queer Eye" explore underwater performers in a new docu-series, "MerPeople." Scout Productions executive-produced it; Oscar-winning Cynthia Wade directed. The creators of "Queer Eye" are turning their lens on the world of underwater performers for a new docu-series on Netflix, "MerPeople." Executive producers were Scout Productions' Michael Williams, David Collins, Joel Chiodi, and Rob Eric, along with photographer Andréanna Seymore; Roland Ballester, known for "Halston" and "30 for 30"; and Wade. Scout Productions has become known for richly shot, inclusivity-themed unscripted TV projects like ballroom competition series "Legendary" and streetwear design contest "The Hype" on HBO Max, in addition to "Queer Eye."

HOUSTON, April 28 (Reuters) - Chevron Corp (CVX.N) has stepped up sales of Venezuelan crude oil to rival U.S. refiners, adding PBF Energy Inc (PBF.N) and Marathon Petroleum Corp (MPC.N) to its list of customers for the crude, vessel tracking and loading schedules showed. Chevron, the last big U.S. oil producer still operating in U.S.-sanctioned Venezuela, has increased exports of the crude since January. So far in April, it has loaded about 148,000 barrels per day (bpd) of oil at Venezuelan ports, with cargoes going to at least three other U.S. refiners, besides Chevron's own refinery. In mid-April, Chevron sold about 550,000 barrels of Venezuelan crude to PBF for its 185,000-bpd Chalmette refinery, near New Orleans, U.S. Customs data on Refinitiv Eikon showed. Chevron has sent Venezuelan crude to its 369,000-bpd Pascagoula, Mississippi, refinery and this month shipped a cargo to a Bahamas oil-storage terminal, PDVSA's schedules showed.

☆ A new Netflix docu-series from the producers of 'Queer Eye' dives into the world of professional mermaiding
▼ + stars: | 2023-04-26 | by ( Lucia Moses | ) www.businessinsider.com time to read: +3 min

☆ David Solomon's private plane use gets flagged at Goldman Sachs' annual shareholder meeting
▼ + stars: | 2023-04-26 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +4 min

One shareholder cites reports about Goldman Sachs CEO's use of the corporate jet. A shareholder of Goldman Sachs cited Goldman CEO David Solomon's personal use of the corporate aircraft at the company's annual meeting Wednesday morning in Dallas. Chesser put the proposal in terms of Goldman Sachs organizational processes that, he said, "look pretty weak." Solomon acknowledged Chesser's remarks, and moved to take questions before advancing to the next shareholder proposal and presentation. As Insider has previously reported, at least one other shareholder has asked Goldman's investor relations department for information about Solomon's personal use.

☆ Jamaica cool on Charles' coronation as it eyes break with monarchy
▼ + stars: | 2023-04-26 | by ( Kate Chappell | ) www.reuters.com time to read: +7 min

The process to sever ties with the British monarchy is underway, following in the footsteps of another former Caribbean possession, Barbados. Maziki Thame, a political scientist at the University of the West Indies, agreed the coronation was of little significance. It gained independence in 1962 but retained the British monarch as head of state and stayed in the Commonwealth. Breaking ties with the monarchy is essential for Jamaica, said Steven Golding, president of the UNIIA-ACL, a Black nationalist organization founded in Jamaica by activist Marcus Garvey. "I'd like to hear what Charles has to say about the subjects in the Isle of Jamaica," she said.

☆ Elon Musk's super-app ambitions might be a fool's errand
▼ + stars: | 2023-04-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Whether it's charging, or not charging, for blue check marks or blowing up mega-rockets, Elon Musk's businesses get plenty of scrutiny. Insider's Paige Hagy looked into Musk's plans around turning Twitter into a super app and spoke to industry experts about the strategy. A super app, or everything app, as Musk calls it, encompasses everything (no duh!) In short, if it's something you can do on your phone, you can do it on a super app. Click here to read more about Elon Musk's plans for creating an everything app.

☆ Where Goldman Sachs CEO David Solomon takes the corporate jet
▼ + stars: | 2023-04-24 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +15 min

"The Board fully supports the use of the Goldman Sachs planes for travel, just as it supported the use of private aircraft by previous Goldman Sachs executives," said Tony Fratto, a company spokesman. "Executives at Goldman Sachs have been flying on private aircrafts for decades as it is proven to be the most secure, effective, and cost-efficient solution to meet the extensive travel obligations for CEOs of firms like Goldman Sachs — which is why all of our peer institutions also extensively use private aircraft." John Waldron, president of Goldman Sachs Reuters/Brendan McDermidOccasionally, Solomon and Waldron switch planes, particularly when Waldron flies overseas. Goldman Sachs has a sponsorship deal with pro golfer Patrick Cantlay. "These estimates wildly overstate the cost of such flights to Goldman Sachs and are not an accurate representation," he said.

☆ Goldman Sachs' David Solomon invested in a luxury real-estate developer his bank failed to win business from
▼ + stars: | 2023-04-24 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +4 min

Goldman Sachs CEO David Solomon owns shares in a luxury real-estate developer, according to the NYT. David Solomon, the chief executive of Goldman Sachs, is known to fly to the Bahamas, where he has a home. The valuation the bankers gave for Discovery Land fell well short of $1 billion, and Goldman did not win that deal. Discovery Land eventually sold $300 million of shares without the help of any bank in early 2021. Insider has previously reported that at least a small number of Goldman Sachs partners and other insiders have complained about Solomon's personal jet use, as well as his side gig as a DJ.

☆ Not Just a D.J., Goldman C.E.O. Also Dabbles in Luxury Real Estate
▼ + stars: | 2023-04-24 | by ( Emily Flitter | ) www.nytimes.com time to read: +1 min

On Feb. 28, top executives at Goldman Sachs staged an “investor day” to reassure shareholders that the bank would rebound after a disappointing 2022. More than a decade earlier, Mr. Solomon had purchased a multimillion-dollar beachfront home from the Discovery Land Company, which built and managed Baker’s Bay. Mr. Solomon is not just a Discovery customer. He’s also a part owner of the private company and for years has informally advised its founder — even as Goldman Sachs vied for work with Discovery. Many corporate chief executives, of course, sit on other companies’ boards of directors, but such external commitments are much less common in the heavily regulated banking industry.

☆ Asking $75 Million, a Waterfront Estate Is One of the Priciest Listings Ever in the Bahamas
▼ + stars: | 2023-04-22 | by ( Katherine Clarke | ) www.wsj.com time to read: 1 min

Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. A Bahamas home renovated by British property developer Christian Candy and his wife, Emily Crompton-Candy, is coming on the market for $75 million.

☆ Taylor Swift didn't sign $100 million FTX sponsorship because she was the only one to ask about unregistered securities, lawyer says
▼ + stars: | 2023-04-19 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Taylor Swift pulled out of a $100 million sponsorship deal with Sam Bankman-Fried's FTX. The lawyer suing other celebrities for promoting FTX says she was the only one to ask about unregistered securities. Taylor Swift managed to avoid signing a $100 million sponsorship deal with FTX because she was reportedly the only celebrity to question the crypto exchange, according to the lawyer handling a class-action lawsuit against several FTX promoters. "The one person I found that did that was Taylor Swift," Moskowitz told The Scoop's Frank Chaparro. "In our discovery, Taylor Swift actually asked them: 'Can you tell me that these are not unregistered securities?'"

☆ FTX could relaunch - and one of its former VC backers may lead a $250 million funding round to revive the failed exchange, report says
▼ + stars: | 2023-04-19 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Tribe Capital may lead a $250 million funding round to reboot FTX, according to Bloomberg. Tribe's cofounder Arjun Sethi held talks with the failed crypto exchange in January, sources said. The VC firm and its partners could provide $100 million to fund the relaunch, Bloomberg said. Tribe Capital is considering leading a $250 million fundraising effort to help reboot the failed crypto exchange, Bloomberg said, citing people familiar with the matter. Tribe's proposal in January would relaunch FTX US, FTX Australia, FTX Japan, FTX EU, FTX International and LedgerX, Bloomberg said.

☆ I work for a nude cruise. It's liberating — but there are rules. Passengers can't get too excited, and clothes must be worn to dinner.
▼ + stars: | 2023-04-19 | by ( Brooke Morton | ) www.businessinsider.com time to read: +7 min

I'm a cruise organizer for Bare Necessities Tour and Travel, a nudist cruise company. I spend all year as part of a team planning our two sailings: a February trip aboard a big cruise ship called our Big Nude Boat, which has 3,000 passengers, and a smaller cruise in summer. Now I'm vice president of sales for the two Bare Necessities cruises. Entertainers and staffers on a Bare Necessities cruise wear clothes. On our Big Nude Boat with a little more than 2,100 passengers, about 70% of guests on board are repeat guests.

☆ Our family is living on a four-bedroom boat while cruising the eastern seaboard for a year. It's not like the 'fabulous lifestyles of the rich and famous' that might come to mind.
▼ + stars: | 2023-04-16 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +8 min

Cinda: We're doing what's called the Great American Loop, which is a way to circumnavigate around the eastern seaboard of the US and Canada. A 6,000-mile journey around the eastern seaboardCinda: We started in Stuart, Florida, which is just north of the Palm Beach area. When you think of living on a boat, most people think fabulous lifestyles of the rich and famous. Mark: Some people go all in and sell everything and buy the boat, and the boat is their home residence. We bought our boat specifically to do the loop and we'll sell it when we're done with the loop.

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