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Sam Bankman-Fried will head to jail on Friday after a judge sided with a request by federal prosecutors to revoke the FTX founder's bail over alleged witness tampering. Judge Lewis Kaplan denied Bankman-Fried's request for delayed detention pending an appeal. "My conclusion is there is probable cause to believe the defendant tried to tamper with witnesses at least twice," said Judge Kaplan during his ruling. Judge Kaplan previously issued a direct and stern warning to Bankman-Fried in July over his conversations with the media. It is an argument that proved sufficient to convince Judge Kaplan to send Bankman-Fried to jail ahead of his trial.
Persons: Sam Bankman, Fried, Judge Lewis Kaplan, Bankman, Kaplan, Kaplan's, Palo, billionaire's, Judge Kaplan, Caroline Ellison, Ellison Organizations: Brooklyn's Metropolitan Detention Center, The New York Times, Freedom, Press, New York Times, Bankman, Alameda Research, Times Locations: New York, Putnam , New York, Brooklyn's, Bankman, Palo Alto , California, Bahamas
A New York judge will decide on Friday, during a hearing that starts at 2 p.m. ET, whether to send Sam Bankman-Fried to jail. Federal prosecutors have asked U.S. District Judge Lewis A. Kaplan to revoke the FTX founder's bail over alleged witness tampering. Kaplan previously issued a direct and stern warning to Bankman-Fried in July over his conversations with the media. The government told the judge in a letter that next week it plans to file a new superseding indictment.
Persons: Sam Bankman, District Judge Lewis A, Kaplan, Fried, Palo, billionaire's, Caroline Ellison, Ellison Organizations: U.S, District, The New York Times, Freedom, Press, Bankman, Alameda Research, Prosecutors, Bahamas Locations: York, Manhattan, Bankman, Palo Alto , California
Campaign finance charges against Sam Bankman-Fried are still on the table and will be included in an indictment next week against the founder of failed crypto exchange FTX, prosecutors said in a letter to a Manhattan federal judge Tuesday. Bankman-Fried faces decades in prison if convicted on the original seven-count indictment, which centers around an alleged multibillion-dollar fraud against FTX investors. However, the government had been forced to drop additional allegations of campaign finance fraud in July because of the terms of the U.S. extradition treaty with the Bahamas, where Bankman-Fried and his company were based. The treaty with Bahamas prevents prosecutors from adding further charges against someone who has been extradited without first getting permission from the other government. The U.S. government had asked the Bahamas to extradite Bankman-Fried on a seven-count indictment, but prosecutors didn't get clearance from the Bahamas to add further charges of campaign finance and bribery to Bankman-Fried's indictment.
Persons: Sam Bankman, Fried, Bankman, didn't, FTX, , Dawn Giel Organizations: Attorney's, Southern, of Locations: Manhattan, Bahamas, U.S, of New York
Marriott and MGM Resorts International announced a partnership Monday to link their loyalty programs and give customers more options for cashing in. Under the deal, MGM guests in the United States can earn Marriott Bonvoy rewards points and Bonvoy members will in turn have access to 17 MGM properties when they spend their points. Those loyalty programs drive business and help to differentiate competitors at a time when travel is continuing to rebound from a pandemic pause. Marriott CEO Tony Capuano said MGM Resorts brings a wealth of intellectual property to the portfolio as well as entertainment, high-end culinary options and other one-of-a-kind experiences. Customers of MGM's sportsbook will earn Bonvoy points on some transactions, and Bonvoy members will see MGM sportsbooks marketing on the Marriott site.
Persons: Bill Hornbuckle, Bonvoy, Tony Capuano, Capuano, Hornbuckle, sportsbook, Adam Greenblatt, Dawn Giel, Jessica Golden, Kasey O'Brien Organizations: Marriott, MGM Resorts International, MGM, CNBC, Las, Cosmopolitan, MGM Resorts, Caesars, Entain Locations: United, Vegas, United States
Little St. James Island, one of the properties of financier Jeffrey Epstein, is seen in an aerial view near Charlotte Amalie, St. Thomas, U.S. Virgin Islands July 21, 2019. An investment firm led by the billionaire Stephen Deckoff has bought two private islands in the U.S Virgin Islands previously owned by the late notorious sex criminal Jeffrey Epstein, Deckoff confirmed to CNBC on Wednesday. One of the islands was used by Epstein to sexually abuse young women for years, according to court filings. Little St. James covers more than 70 acres, and Great St. James is more than double the size of its neighbor. Multiple women have said they were raped or sexually assaulted on Little St. James, where Epstein had a mansion.
Epstein will be charged with one count of sex trafficking of minors and one count of conspiracy to engage in sex trafficking of minors. JPMorgan Chase was aware in 2006 of accusations that disgraced former financier Jeffrey Epstein paid to have underaged girls brought to his home, according to the latest allegations in a high-profile legal case. Erdoes was referring to accusations gleaned from news reports, according to a person with knowledge of the matter. In her deposition, Erdoes testified that JPMorgan dropped Epstein as a client in 2013 after she learned that his withdrawals were for "actual cash," according to the suit. But Epstein had made cash withdrawals totaling more than $800,000 in each of 2004 and 2005.
Sam Bankman-Fried pleaded not guilty in New York federal court Thursday to five additional charges related to the collapse of his former crypto exchange FTX and hedge fund Alameda Research. Bankman-Fried's hedge fund then allegedly used the unfrozen assets to continue to fund Alameda's loss-generating trades, continuing on what the government says was a fraud upon customers and investors for another year. The 13-count indictment gives details of hundreds of political donations that Bankman-Fried allegedly directed in violation of federal campaign finance laws. Bankman-Fried already pleaded not guilty to eight other counts. In addition to this federal indictment, Bankman-Fried also faces civil charges from both the Securities and Exchange Commission and the Commodity Futures Trading Commission.
While Christmas shopping for his young daughter, he received a call from a person claiming to be from the Chase fraud department and asking to verify a suspicious transaction. Unfortunately, for victim of these schemes, the bank isn't always required to repay the stolen funds. CNBC has reviewed Mullenaux's cellular records, bank account information, as well as images of the text message and link he was sent. He immediately drove to his local Chase bank branch where he was told he had likely been the victim of fraud. Legally, banks do not have to reimburse stolen funds when a customer is tricked into sending money to a cybercriminal.
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