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Defense lawyers will have a chance to put forward a competing narrative when they present their case, beginning as soon as Thursday. A STRATEGIC CHOICEAllowing specific unfavorable accounts by prosecution witnesses to go unchallenged on cross-examination could be a strategic choice by the defense, according to experts. During opening statements, Cohen told jurors of the prosecutors: "They'd have you think he was quite the villain, or, more precisely, almost a cartoon of a villain. "It was pretty humiliating," said Singh, who has pleaded guilty to fraud charges. Ellison, who has also pleaded guilty to fraud, said Bankman-Fried told her that his signature sloppy dress and wild mop of curly locks was an "important part of FTX's image."
Persons: Sam Bankman, Andrew Kelly, Fried, Bankman, doesn't, Jordan Estes, Kramer Levin, Mark Cohen, Cohen, Rachel Maimin, Lowenstein Sandler, Sam, gooder, Nishad Singh, Singh, Caroline Ellison, Alameda's, Ellison, Luc Cohen, Will Dunham, Amy Stevens Organizations: FTX, Manhattan, REUTERS, Alameda Research, Thomson Locations: New York City, U.S, Manhattan, Washington, Alameda, New York
NYC's controversial brokerage fees under scrutiny
  + stars: | 2023-10-23 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNYC's controversial brokerage fees under scrutinyCNBC's Robert Frank and Bess Freedman, Brown Harris Stevens CEO, join 'Power Lunch' to discuss New York City's planned changes to the real estate market.
Persons: Robert Frank, Bess Freedman, Brown Harris Stevens, New York City's Locations: New York
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEnergy stocks come into focus in Q3 as XLE rises 10% in last three monthsCNBC's Pippa Stevens reports on where oil prices fit into the future.
Persons: Pippa Stevens Organizations: Energy
Like movie theaters across the country that are facing the fallout of an actors’ strike and the shift to streaming, the Oriental Theater in Milwaukee was quite pleased to have Taylor Swift’s concert film coming to its screens. But “Taylor Swift: The Eras Tour,” which has been a box office rainmaker, comes with an unconventional stipulation: Theaters may only show it Thursdays through Sundays, said Cara Ogburn, the artistic director of Milwaukee Film, which runs the Oriental Theater. So what to do, she wondered, on the other three days of the week? “What if we show all Jake Gyllenhaal movies,” Ogburn suggested offhandedly, initially as a joke. The team’s resident Swiftie assured leadership that the theater would not be canceled for a lineup based on the pop star’s famous exes.
Persons: Taylor, “ Taylor Swift, Cara Ogburn, Jake Gyllenhaal, ” Ogburn, offhandedly, Swiftie Organizations: Oriental Theater, Milwaukee Film Locations: Milwaukee
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock futures slip as 10-year Treasury yield crosses 5% for the first time since 2007CNBC's Pippa Stevens reports on the news of the day.
Persons: Pippa Stevens
But it can be hard to go cold turkey on social media or to find time for a regular workout. If you're looking for a simple change that you can make today, here's the No. 1 method Stevens recommends for stress relief at the top of each morning. DON'T MISS: Use this 1 simple trick to feel happier, says Harvard expert—it involves your bucket listThe simple step you can take each morning to relieve stress"I believe that starting [the day] with an affirmation is really helpful. Just being really mindful of the thoughts you're having."
Persons: , Tiffany, Stevens, Oprah Winfrey, Tiffany M Organizations: Harvard, CNBC, Media, CNN, Stevens Locations: Chicago
A new lawsuit accuses one of the US's largest trucking companies of gender discrimination. AdvertisementAdvertisementIn a new class action lawsuit, three named women allege that a trucking company either delayed their hiring processes or refused to hire them altogether because of their gender. Per the filing, other women applying were told there was a hiring freeze for women. Romer-Friedman added filing with the EEOC is the first step in a process that could lead to a federal civil rights lawsuit against Stevens Transport. Stevens Transport did not respond to a request for comment from Insider sent outside regular working hours.
Persons: , Kim Howard, Ashli Streeter, Peter Romer, Stevens, Howard, Streeter, Friedman, Romer, I've Organizations: Service, Stevens Transport, Trucking, Commission, Romer, Bureau of Labor Statistics Locations: Friedman's, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDominion Energy's offshore wind bet: $10 billion project will power 660k homesCNBC's Pippa Stevens joins 'Worldwide Exchange' with a closer look at Dominion Energy's offshore wind site.
Persons: Pippa Stevens Organizations: Dominion
Political Cartoons View All 1211 Images“Until we get more Black women into clinical trials, we can’t change the science. Black women are 40% more likely to die from breast cancer than white women and tend to be diagnosed younger. As recruiting continues, enrolling Black women and other women of color will “absolutely” continue as a priority, Pisano said. At the U.S. study sites, 21% of study participants are Black women — that's higher than a typical cancer treatment study, in which 9% of participants are Black, McCaskill-Stevens said. Her sister recently completed treatment for triple negative breast cancer, an aggressive type that affects Black women at higher rates than white women.
Persons: , Carole Stovall, ” Stovall, , Ricki Fairley, Worta McCaskill, Stevens, McCaskill, there’s, Etta Pisano, Pisano, Cherie Kuzmiak, Stovall, Lucile Adams, Campbell, , ” Pisano Organizations: Washington , D.C, National Cancer Institute, NCI, University of North, UNC, D.C, Georgetown University, Associated Press Health, Science Department, Howard Hughes Medical Institute’s Science, Educational Media Group, AP Locations: Washington ,, Canada, South Korea, Peru, Argentina, Italy, U.S, Thailand, University of North Carolina, North Carolina, Washington
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWealthy Americans are not affected by the housing crisis, says former FHA Commissioner StevensDavid Stevens, former FHA commissioner, joins 'The Exchange' to discuss his proposal for how to lower mortgage rates, the supply-demand imbalance in housing driving mortgage rates higher, and more.
Persons: Stevens David Stevens
Dollar-General names Todd Vasos CEO, shares pop after the bell
  + stars: | 2023-10-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDollar-General names Todd Vasos CEO, shares pop after the bellCNBC's Pippa Stevens joins 'Closing Bell: Overtime' to discuss Dollar General naming its next CEO.
Persons: Todd Vasos, Pippa Stevens
[1/2] U.S. District Judge Lewis Kaplan presides over the fraud trial of Sam Bankman-Fried over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 3, 2023 in this courtroom sketch. Last year, he presided over a civil trial in which the actor Kevin Spacey defeated a sexual abuse claim. When one prospective juror said they did not understand how cryptocurrency works, Kaplan said, "You probably have a lot of company in this courtroom." Several times during the first three days of testimony, Kaplan urged defense lawyers to move more quickly as they asked prosecution witnesses questions he deemed repetitive. Before the trial began, Kaplan issued several key rulings against the defense, including excluding some of their proposed expert witnesses and barring them from making certain arguments at trial.
Persons: District Judge Lewis Kaplan, Sam Bankman, Jane Rosenberg, District Judge Lewis, levity, Kaplan, Fried, Bill Clinton, Donald Trump, Jean Carroll, Kevin Spacey, Tom Brady, David Lisner, Matt Huang, You've, Caroline Ellison's, Luc Cohen, Amy Stevens, Lisa Shumaker Organizations: U.S, District, Federal Court, REUTERS, Harvard Law School, New, Thomson Locations: FTX, New York City, U.S, Manhattan, Staten, New York
Homes a tenth the size of Mar-a-Lago on tiny inland lots sell for that in the Town of Palm Beach, a wealthy island enclave. It is also a club, private beach resort, historical artifact and banquet hall with a ballroom that features gold leaf. The much smaller Palm Beach compound once owned by the Kennedy political dynasty sold for $70 million three years ago. SO HOW DID PALM BEACH COUNTY COME UP WITH SUCH A LOW TAX ASSESSMENT? If Mar-a-Lago had a $1 billion assessed value, it’s property tax bill would be approximately $18 million.
Persons: Donald Trump's Mar, Trump, Judge Arthur Engoron, Liza Pulitzer, , Pulitzer, Brown Harris Stevens, Rob Thomson, Marjorie Merriweather Post, E.F, Hutton, Richard Nixon, Gerald Ford, Jimmy Carter, Mona Lisa, Renoir, Eli Beracha, Lago, ” Beracha, Thomson, Kennedy, Becky Robinson, Jared Moskowitz, Robinson, Letitia James, James, Organizations: New, Palm, Trump, Waterfront Properties, Historic Landmark, Post, Mar, Florida, Hollo, Real, U.S . Rep, South, South Florida Democrat, Trump , New York Locations: FORT LAUDERDALE, Fla, York, Florida, Palm Beach, Intracoastal Waterway, Post, Mar, Lago, summering, New Jersey, Trump, South Florida, Trump ,, New York
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
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 RightsNEW YORK, Oct 4 (Reuters) - Sam Bankman-Fried's trial on charges of stealing billions of dollars from customers of his now-bankrupt FTX cryptocurrency exchange is set to resume on Wednesday, with the judge aiming to finish selecting a jury and move on to opening statements. That would pave the way for prosecutors and the defense to proceed to opening statements, in which each side would lay out their case. Bankman-Fried has pleaded not guilty and is likely to argue that while he failed to adequately manage risk, he did not steal money. Reuters GraphicsReporting by Luc Cohen in New York Editing by Amy Stevens and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.
Persons: Sam Bankman, Fried, Amr Alfiky, FTX, District Judge Lewis Kaplan, Caroline Ellison, Nishad Singh, Gary Wang, Kaplan, Ellison, Luc Cohen, Amy Stevens, Matthew Lewis Organizations: United, REUTERS, District, Prosecutors, U.S, Alameda Research, Alameda, Metropolitan Detention, Thomson Locations: New York City, U.S, Manhattan, Brooklyn, New York
CNN —One of the most recognizable people in the world, David Beckham has a well-trodden story: a former England soccer captain, married to a Spice Girl and now the owner of Major League Soccer club Inter Miami. But, as it turns out, Victoria Beckham is “not into football” and never will be, she says in the documentary, despite marrying one of the sport’s most recognizable figures. David and Victoria Beckham pictured in April 2004. Bruno Vincent/Getty Images“I don’t know how we got through it in all honesty,” Beckham said haltingly in the documentary. David Beckham enjoys beekeepingAfter retiring from football, Beckham has become a co-owner of Inter Miami and found some other ways to occupy his time too, including beekeeping and cooking.
Persons: David Beckham, “ Brand Beckham, David, Victoria Beckham, Fisher Stevens, , , Victoria, Mel C, Beckham, Bruno Vincent, ” Beckham, haltingly, Diego Simeone, David Gardner, , Cruz, Jennifer Lopez, , “ You’ve, Anthony Harvey, Shutterstock, Lopez Organizations: CNN, England soccer, Major League Soccer, Inter Miami, Netflix, , Manchester United, British, , Real, Getty, Argentina, England Locations: England, Beckham, Real Madrid, Victoria, , Beyoncé
In his opening statement, Rehn said Bankman-Fried used more than $10 billion in FTX customer funds to amass his own wealth, power and influence. But Rehn said FTX collapsed because of Bankman-Fried's plundering of FTX customer cash. According to prosecutors, Bankman-Fried installed Ellison, his sometime romantic partner, as a "front" to lead Alameda in 2021. "In reality he was still calling the shots at Alameda," Rehn said. But Bankman-Fried's lawyer said that handing over the reins was normal as FTX grew and took up his time.
Persons: Sam Bankman, Attorney Thane Rehn, Jane Rosenberg REFILE, Fried, Thane Rehn, Mark Cohen, Rehn, Cohen, Zhao, FTX, duping, Caroline Ellison, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Matthew Lewis Organizations: U.S, Attorney, Federal Court, REUTERS, Alameda Research, Alameda, Bankman, Thomson Locations: Bankman, FTX, New York City, U.S, Bahamas, Alameda, New York
But FTX had asserted the opposite in an online post about a car race it sponsored in Miami Beach, Florida, six months before its November 2022 collapse. loadingAt Bankman-Fried's trial on Wednesday, prosecutors played for the jury FTX video advertisements in which a narrator said, "we're inviting everyone in," as well as spots featuring NFL quarterback Tom Brady and comedian Larry David. Bankman-Fried, 31, has pleaded not guilty to two counts of fraud and five counts of conspiracy over the collapse of FTX. Mark Cohen, Bankman-Fried's lawyer, said his client never intended to steal funds. "But on the other hand, many factors that nobody controlled could make crypto go up and down in value.
Persons: Sam Bankman, Mark Cohen, Jane Rosenberg, FTX, Shaquille O'Neal, Tom Brady, Larry David, Bankman, Prosecutors, cryptocurrency, Thane Rehn, Fried, Rehn, Cohen, O'Neal, Brady, David, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Federal Court, REUTERS, Twitter, Miami Heat, Thomson Locations: Bankman, FTX, New York City, U.S, Miami Beach , Florida, New York
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
Companies Champion Trust Llc FollowNEW YORK, Oct 3 (Reuters) - Sam Bankman-Fried's fraud trial got under way with jury selection on Tuesday, nearly a year after his now-bankrupt cryptocurrency exchange's collapse shocked markets and tattered his reputation. He was dressed in a suit and tie, with his once signature curly, unkempt hair cut into a neater trim. Bankman-Fried's is the highest profile case U.S. prosecutors have so far brought against a former cryptocurrency executive. Prosecutors say Bankman-Fried built that reputation on lies and bolstered it with endorsements from celebrities and star athletes. He will be brought to court early on most days to allow him to prepare with his lawyers.
Persons: Sam Bankman, District Judge Lewis Kaplan, Kaplan, Bankman, Fried, Nicolas Roos, Mark Cohen, Caroline Ellison, Gary Wang, Nishad Singh, Ellison, Jody Godoy, Luc Cohen, Amy Stevens, Lincoln, Nick Zieminski Organizations: District, Alameda Research, Manhattan U.S, Prosecutors, Thomson Locations: Manhattan, FTX, Alameda, New York
Director Fisher Stevens and former football player David Beckham pose for a group photo at the premiere of a Netflix documentary called 'Beckham' in London, Britain October 3, 2023. REUTERS/Maja Smiejkowska Acquire Licensing RightsLONDON, Oct 3 (Reuters) - David Beckham turned the premiere of his new Netflix documentary into a family affair on Tuesday as the former footballer was joined by his wife, fashion designer Victoria Beckham, and their four children on the red carpet in London's Mayfair. "When I started my career in the '90s in Manchester ... there was amazing music and amazing scenes to be around and Manchester United were one of the most successful teams in football... "We've been together now for 26 years ... we've got amazing kids, we've built businesses, but we make time for each other... Also in attendance on Tuesday were the show's filmmaking team, including director Fisher Stevens and executive producer Gary Neville, Beckham's former Manchester United teammate.
Persons: Fisher Stevens, David Beckham, Beckham, Maja Smiejkowska, Victoria Beckham, Spice Girl Victoria Adams, Taylor Swift, Travis Kelce, We've, we've, Gary Neville, Beckham's, Hanna Rantala, Rosalba O'Brien Organizations: Netflix, REUTERS, Spice Girl, Reuters, Manchester United, Kansas City Chiefs, Thomson Locations: London, Britain, London's Mayfair, Manchester, Victoria
Law Firms Michael R. Becker FollowNEW YORK, Oct 2 (Reuters) - Sam Bankman-Fried will likely defend himself at his fraud trial, due to begin on Tuesday, by arguing he did not think the use by his FTX cryptocurrency exchange of customer funds was improper and by challenging the credibility of those who say otherwise. He has long acknowledged failing to manage risk at FTX, but denied prosecutors' claims he stole billions of dollars in FTX customer deposits to plug Alameda's losses. In September court papers, Bankman-Fried's lawyers said he had a "good faith belief" that the manner in which FTX and Alameda handled customer funds was permissible. Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, arrives at court as lawyers push to persuade the judge overseeing his fraud case not to jail him ahead of trial, at a courthouse in New York, U.S., August 11, 2023. Prosecutors are seeking to play jurors a recording of an Alameda meeting in which Ellison told colleagues that Bankman-Fried approved the use of customer funds.
Persons: Michael R, Becker, Sam Bankman, Fried, FTX, Alameda, Jordan Estes, Estes, Kramer Levin, Eduardo Munoz, District Judge Lewis Kaplan, Caroline Ellison, Gary Wang, Nishad Singh, Tim Howard, Freshfields, Ellison, Wang, Kaplan, Luc Cohen, Amy Stevens, Daniel Wallis Organizations: Alameda Research, New York Times, REUTERS, U.S, Attorney's, District, Alameda, Prosecutors, Thomson Locations: Brooklyn, Bankman, FTX, Alameda, New York, U.S, Manhattan
On the heels of that decision, a federal appeals court invalidated a federal law that bars an individual who is subject to a domestic violence restraining order from possessing a firearm. A three-judge district court panel struck down the plan in January, saying that race had been the predominant motivating factor. Three years ago, the Supreme Court limited the independence of the CFPB by invalidating its leadership structure. The court’s decision could impact whether the SEC and other agencies can conduct enforcement proceedings in-house, using administrative courts staffed with agency employees, or whether such actions must be brought in federal court. “It’s difficult to think of any other recent First Amendment cases in which the stakes were so high,” Jaffer added.
Persons: Clarence Thomas, , Biden, Zackey Rahimi, John Roberts, Taiwan Scott, Thomas, Elizabeth Prelogar, Magnuson, Paul Clement, ” Clement, , pare, George Jarkesy, Sackler, ” Prelogar, Jameel Jaffer, Jaffer Organizations: CNN, Gun Safety, South Carolina’s Republican, South Carolina State Conference of, NAACP, Democrat, Republican, National Marine Fisheries Service, Chevron, Natural Resources Defense, Stevens Fishery Conservation, Management, Independent, Consumer Financial, Federal Reserve, US, Federal Deposit Insurance Corporation, Securities, Exchange, US Securities and Exchange Commission, SEC, Social Security Administration, Circuit, Historic Purdue Pharma, Purdue Pharma, Sackler, Purdue, Facebook, YouTube, Columbia University’s Locations: United States, South Carolina, Alabama, Taiwan, Charleston County, Chevron, Florida, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin dips back below $27,000 while Ether inches closer to $1,700: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Sergey Nazarov, co-founder of the web3 services platform Chainlink, explains what can help prevent another crypto firm failure ahead of the trial of the crypto exchange's founder Sam Bankman-Fried.
Persons: explainers, Sergey Nazarov, Sam Bankman Organizations: CNBC Crypto, CNBC
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