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☆ Trump asks for mistrial in battery case, saying judge has made ‘unfair and prejudicial’ rulings
▼ + stars: | 2023-05-01 | by ( Kara Scannell | ) edition.cnn.com time to read: +1 min

CNN —Former President Donald Trump has asked the judge to declare a mistrial in his civil battery and defamation trial, arguing the judge has made “pervasive unfair and prejudicial rulings” against him. Carroll sued Trump, alleging he raped her in the Bergdorf Goodman department store in the mid-1990s and then defamed her when he denied her claim, said she wasn’t his type and suggested she made up the story to boost sales of her book. Carroll will be on the stand Monday for a second day of cross-examination by Tacopina. Trump has denied any wrongdoing. It would be unusual for the judge to declare a mistrial based on his own statements during a trial.

☆ Manhattan prosecutors ask judge to limit Trump’s ability to publicize information about his criminal case
▼ + stars: | 2023-04-25 | by ( Kara Scannell | ) edition.cnn.com time to read: +3 min

CNN —Prosecutors with the Manhattan district attorney’s office have asked the judge overseeing Donald Trump’s criminal case to impose a protective order restricting the former president’s ability to publicize information about the investigation. In a motion, prosecutors told the judge that Trump’s team would not consent to a protective order. Manhattan prosecutors have accused Trump of falsifying business records with the intent to conceal illegal conduct connected to his 2016 presidential campaign. They also asked the judge to limit the use of any materials they provide to Trump to defending the present case. They cited Trump’s past statements about Bragg and the judge in the case.

New York CNN —A federal judge on Wednesday denied a request by Manhattan District Attorney Alvin Bragg’s office for a temporary restraining order to stop a House Judiciary Committee subpoena of former prosecutor Mark Pomerantz. District Judge Mary Kay Vyskocil said Pomerantz must appear for a deposition as the House panel investigates Bragg’s recent indictment of former President Donald Trump. Bragg’s office says it will appeal. During the hearing, an attorney for Bragg’s office argued – unsuccessfully – that Pomerantz ignored cautions from the DA before publishing the book, so the district attorney’s office should not be penalized. The clash between federal and state powers began in March when Jordan asked Bragg’s office for documents and communications after news organizations reported that Bragg’s office was moving closer to seeking to indict Trump.

CNN —Donald Trump on Thursday morning arrived for a deposition as part of a high-stakes civil case brought by New York state against the former president, some of his children and his sprawling business empire. The lawsuit, brought last September by New York Attorney General Letitia James, a Democrat, alleges that Trump, his children Donald Trump Jr., Eric Trump and Ivanka Trump, and the Trump Organization were involved in an expansive scheme lasting over a decade by providing false financial statements to lenders and others that the former president used to enrich himself. The suit is seeking $250 million and bans on the Trumps’ ability to operate a business in the state. “He remains resolute in his stance that he has nothing to conceal, and he looks forward to educating the attorney general about the immense success of his multi-billion dollar company,” Trump’s attorney, Alina Habba, said in a statement. In a civil case, if a defendant asserts the Fifth Amendment, the jury can make what’s known as an “adverse inference” and place weight against Trump for refusing to answer questions.

☆ Trump asks to delay sexual assault trial following historic indictment
▼ + stars: | 2023-04-12 | by ( Kara Scannell | ) edition.cnn.com time to read: +1 min

CNN —Lawyers for former President Donald Trump asked a judge to delay the start of a sexual assault and defamation trial for one month to allow a “cooling off” period following the historic indictment charging Trump with falsifying business records. Joe Tacopina, an attorney for Trump, asked the judge overseeing the battery and defamation lawsuit brought by former magazine columnist E. Jean Carroll to delay the trial until the end of May. “To be sure, President Trump is a persistent subject of media coverage. Trump has denied the affair with Daniels. He has also denied sexually assaulting Carroll, who alleges Trump raped her in a New York department store dressing room in the mid-1990s.

☆ Sam Bankman-Fried pleads not guilty to new federal charges
▼ + stars: | 2023-03-30 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried, the founder of failed cryptocurrency trading platform FTX, pleaded not guilty to five new federal charges of fraud and conspiracy, including one count of conspiring to bribe Chinese government officials. An attorney for Bankman-Fried entered the plea on his behalf of his client, who was seated beside him in the New York courtroom Thursday. He previously pleaded not guilty to eight other charges stemming from what prosecutors have described as one of the biggest financial frauds in US history. In the latest indictment, prosecutors alleged that Bankman-Fried sought to pay off Chinese officials to unfreeze accounts belonging to his hedge fund, Alameda Research. Three of Bankman-Fried’s former business partners — Gary Wang, Caroline Ellison and Nishad Singh — have pleaded guilty to numerous charges and are cooperating with investigators.

☆ Judge concerned Sam Bankman-Fried is too ‘technologically savvy,’ could find a way around tech restrictions
▼ + stars: | 2023-03-10 | by ( Lauren Del Valle | ) edition.cnn.com time to read: +2 min

CNN —United States District Judge Lewis Kaplan indicated at a hearing Friday he might modify FTX founder Sam Bankman-Fried’s bail conditions, but only after attorneys further tighten the restrictions on Bankman-Fried’s access to technology. Kaplan said he’s still not convinced that the founder of bankrupt crypto trading platform FTX wouldn’t be able to circumvent the more-restrictive bail conditions that were filed last week. “If he’s determined and inventive and I suspect he’s very inventive and technologically savvy he could find a way around it and conceivably not get caught,” Kaplan said in court Friday. Bankman-Fried, who did not attend Friday’s hearing, is currently under house arrest at his parents’ home in Palo Alto, Calif. Judge Kaplan asked the defense to submit an updated bail modification order that would tighten the restrictions to address his concerns.

☆ Prosecutors want Sam Bankman-Fried to use a flip phone as part of a more restrictive bail package
▼ + stars: | 2023-03-04 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

CNN —The use of a flip phone, or some non-smartphone, is one of several restrictions that prosecutors and Sam Bankman-Fried’s attorneys are jointly asking the judge to approve. Bankman-Fried also would be restricted from scrolling the internet, with his access limited to court-approved websites. The lawyers proposed several sites to help prepare his defense, including YouTube, read-only websites showing crypto prices, and research websites. Bankman-Fried also asked to view others for his personal use, including news sites, Netflix, Spotify, Uber Eats, Amazon and baseball and football sites. The judge previously raised concerns about Bankman-Fried’s access to his parents’ computers, cell phones and internet.

☆ Former director of engineering at FTX Nishad Singh pleads guilty to criminal charges
▼ + stars: | 2023-02-28 | by ( Kara Scannell | ) edition.cnn.com time to read: +4 min

New York CNN —A former top executive of failed cryptocurrency trading platform FTX pleaded guilty and is cooperating with federal prosecutors investigating the alleged billion-dollar fraud at the now collapsed exchange. Nishad Singh, the former director of engineering at FTX, pleaded guilty to six conspiracy charges, including conspiracy to commit wire fraud, conspiracy to commit money laundering and conspiracy to violate federal campaign finances laws. Singh is the third top executive and close confidante of FTX founder Sam Bankman-Fried to plead guilty and cooperate with prosecutors. Gary Wang, co-founder of FTX, and Caroline Ellison, the former head of FTX’s sister hedge fund Alameda Research, both pleaded guilty last year and are cooperating against Bankman-Fried. New York state election records show Singh made a $107,000 donation to the committee on October 28, 2022.

☆ FTX founder Sam Bankman-Fried indicted on new criminal charges
▼ + stars: | 2023-02-23 | by ( Kara Scannell | ) edition.cnn.com time to read: 1 min

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☆ Bankman-Fried lawyers say they will pay for technical expert to aid judge on bail terms
▼ + stars: | 2023-02-21 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

In a brief letter, Bankman-Fried’s attorneys informed Judge Lewis Kaplan that they agreed with his proposal for a security expert who would work solely for the judge. At a bail hearing last week, Judge Kaplan suggested Bankman-Fried’s lawyer hire a technical expert to help him navigate issues of encryption, disappearing messages and virtual private networks, or VPN, that have presented challenges. Prosecutors asked for strict bail conditions limiting the crypto entreprenuer’s use of messaging platforms after becoming alarmed that Bankman-Fried contacted a former FTX employee who is a government witness. Their concerns heightened when they discovered Bankman-Fried used a VPN twice in the past few weeks, including just days after a bail hearing in which the judge expressed concern about the use of encryption. The judge said the outreach could be probable cause to believe Bankman-Fried committed a crime while out on bail.

☆ Bankman-Fried heads to court again as prosecutors seek stricter bail rules
▼ + stars: | 2023-02-16 | by ( Allison Morrow | Kara Scannell | ) edition.cnn.com time to read: +1 min

New York (CNN) FTX founder Sam Bankman-Fried is set to appear in New York federal court Thursday for the second time this week as a judge weighs a proposal from prosecutors to tighten the conditions of his bail. Prosecutors on Wednesday asked Judge Lewis Kaplan to significantly restrict Bankman-Fried's use of cellphones, computers and the internet. They allege that Bankman-Fried found "loopholes" that allowed him to potentially violate the conditions of his bail, including use of a VPN, or virtual private network. That request came two weeks after prosecutors said Bankman-Fried contacted a former FTX employee who is a potential government witness, prompting Kaplan to temporarily bar the former CEO from contacting any current or former employees of his now-collapsed crypto empire. "There is now a record before the Court of a defendant who appears motivated to circumvent monitoring and find loopholes in existing bail conditions," prosecutors said in a letter to the judge Wednesday.

New York CNN —A federal judge released the names of two people who co-signed Sam Bankman-Fried’s $250 million bond, which allowed him to be released on house arrest while he awaits trial on federal fraud and conspiracy charges. Bankman-Fried’s parents, both Stanford law professors, are also guarantors, and used their Palo Alto, California, home to secure the bond. In a statement to CNN, Kramer described Joe Bankman and Barbara Fried as close friends since the mid-1990s. The release of the guarantors’ names came a day before Bankman-Fried was set to appear in New York federal court for a bond hearing. Bankman-Fried’s lawyers said in a letter to the judge that Bankman-Fried used the VPN to access an football games via an international subscription.

☆ Judge orders Sam Bankman-Fried back to court after learning how he accessed the internet remotely
▼ + stars: | 2023-02-14 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —A federal judge ordered Sam Bankman-Fried back to court this week after learning that the founder of crypto trading platform FTX accessed the internet in a way the government can’t track. Bankman-Fried is currently under house arrest at his parents’ home in Palo Alto, Calif. Overnight Prosecutors alerted the judge to Bankman-Fried’s use of a VPN in late January and early February. Prosecutors and Bankman-Fried’s lawyers asked the judge for more time to work out new bail terms, but the judge rejected that, calling them back to court for the second time in a week. The judge previously expressed concern over Bankman-Fried’s use of encryption and whether the government could track what he was doing while out on bail.

☆ Sam Bankman-Fried’s bail is tightened over ‘threat’ of witness tampering
▼ + stars: | 2023-02-01 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried is in trouble, once again, for talking too much. A federal judge on Wednesday temporarily tightened the FTX founder’s bail conditions after learning that Bankman-Fried sent a text message to a former top executive of the crypto trading platform. The restriction comes after federal prosecutors raised the prospect of witness tampering when it discovered that Bankman-Fried had recently contacted the former general counsel of FTX, identified at “Witness-1” in court filings. In the message, Bankman-Fried wrote:“I know it’s been a while since we’ve talked. I’d love to get on a phone call sometime soon and chat.”The judge disagreed with Bankman-Fried’s lawyers’ argument that the message was benign.

☆ Prosecutors say Sam Bankman-Fried tried to obscure his crimes with Robinhood’s stock
▼ + stars: | 2023-01-30 | by ( Kara Scannell | ) edition.cnn.com time to read: +3 min

CNN —Federal prosecutors said FTX founder Sam Bankman-Fried’s efforts to control about $500 million worth of Robinhood shares last year indicates steps the former crypto entrepreneur has taken to “obscure” his alleged crimes. In a letter to Judge Lewis Kaplan involving Bankman-Fried’s bail, prosecutors argued he should still be prevented from moving FTX assets. Prosecutors want to limit who Bankman-Fried can be in touch with from FTX and its sister hedge fund Alameda Research. Bankman-Fried’s lawyers asked for the limitations of his contact with FTX assets be lifted since prosecutors have not proven he was behind a mysterious transfer. Correction: A previous version of this article provided the wrong date for the judge to unpause his Monday ruling.

☆ Prosecutors say Sam Bankman-Fried’s contact with FTX’s ex-general counsel is ‘suggestive’ of witness tampering
▼ + stars: | 2023-01-27 | by ( Kara Scannell | ) edition.cnn.com time to read: +3 min

CNN —Federal prosecutors said FTX founder Sam Bankman-Fried contacted the former general counsel of the crypto trading platform earlier this month in a move they say may constitute witness tampering. They also want the judge to block Bankman-Fried from using any encrypted communication devices out of concerns he will obstruct the ongoing investigation. “Efforts by the defendant to improve his relationship with potential witnesses that may testify against him may itself constitute witness tampering,” prosecutors wrote. Witness-1 participated in Signal and Slack communications with the defendant and a small group of company insiders during the relevant events of November 2022. Several potential witnesses told prosecutors of “incriminating conversations” they had with Bankman-Fried over the messaging platforms that were deleted because Bankman-Fried set the programs to auto-delete after 30 days.

☆ FTX founder says there was a security incident at parents’ home
▼ + stars: | 2023-01-19 | by ( Kara Scannell | ) edition.cnn.com time to read: 1 min

☆ FTX lawyers have recovered $5 billion in assets
▼ + stars: | 2023-01-11 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —FTX officials overseeing its bankruptcy have recovered more than $5 billion in cash and other liquid assets that may be used to help repay creditors, a lawyer for the failed crypto firm said during a bankruptcy court hearing Wednesday. That disclosure significantly raises the estimated amount of funds FTX claims to hold. Last month, FTX lawyers submitted filings that showed the company and its affiliates had a total of $1.2 billion in cash. The lawyers also said they had identified more than 9 million creditors — far more than earlier estimates of around 1 million. FTX founder Sam Bankman-Fried arrives pleaded not guilty to fraud and conspiracy charges in Manhattan on January 3.

☆ Bankrupt cryptocurrency lender Celsius Networks allegedly defrauded investors out of billions of dollars
▼ + stars: | 2023-01-05 | by ( Kara Scannell | ) edition.cnn.com time to read: +2 min

New York CNN —The New York attorney general filed a civil lawsuit Thursday against the co-founder of now-bankrupt cryptocurrency lender Celsius Networks for allegedly defrauding hundreds of thousands of investors who deposited billions of dollars into the platform. The lawsuit against Alex Mashinsky alleges he made false and misleading statements to encourage investors to place billions of dollars in digital assets with Celsius, which filed for bankruptcy court protection last year. “The law is clear that making false and unsubstantiated promises and misleading investors is illegal,” James said in a statement Thursday. When faced with losses, the lawsuit alleges, Mashinsky hid them from investors and continued to tout the safety of the platform to recruit new investors. In extending many of the loans, Celsius accepted FTX’s token, FTT, as collateral.

The Justice Department said Wednesday that has moved to seize millions of shares of Robinhood, the popular stock-trading app, whose ownership is disputed by several parties, including Bankman-Fried himself, his bankrupt crypto exchange FTX and another bankrupt crypto company. Four separate entities have laid claim to the approximately 56 million shares, worth about $460 million. That company, Emergent Fidelity Technologies, borrowed more than $546 million from crypto hedge fund Alameda Research, according to an affidavit Bankman-Fried filed in December. Also claiming the Robinhood shares are bankrupt crypto lender BlockFi and an individual FTX creditor. As of December 31, roughly $150 million of Silvergate’s deposits were from customers that have filed for bankruptcy.

☆ Inflation fears fade as geopolitical risks rise
▼ + stars: | 2023-01-04 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

New York CNN —Inflation fears roiled the markets in 2022. Now, investors may have scarier things to worry about in 2023, according to a report from global research and consulting firm Eurasia Group. “Inflation shockwaves” still feature as one of Eurasia’s top political risks for 2023 in a new report. But FTX and Alameda were each forced to file for bankruptcy in December after investors rushed to pull deposits. Just a year ago, Apple was the first company in the world to reach a $3 trillion market valuation.

☆ FTX founder Sam Bankman-Fried to appear in court Tuesday
▼ + stars: | 2023-01-03 | by ( Samantha Murphy Kelly | ) edition.cnn.com time to read: +2 min

New York CNN —Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, is set to appear in person in a Manhattan federal court on Tuesday to face charges that include cheating investors out of billions of dollars. Bankman-Fried, known as SBF, is charged with eight criminal counts ranging from wire fraud and conspiracy to commit money laundering, to conspiracy by misusing customer funds. He is expected to plead not guilty and could face up to 115 years in prison if convicted on all charges. Wang faces up to 50 years in prison in accordance with federal sentencing guidelines referenced in court. Ellison faces up to 110 years in prison for the seven criminal counts she’s pleaded guilty to, per federal sentencing guidelines.

☆ Business partners turn on Sam Bankman-Fried
▼ + stars: | 2022-12-26 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Last week, as FTX founder Sam Bankman-Fried was being extradited to the United States from the Bahamas, two of his former business partners pleaded guilty to multiple charges of fraud and conspiracy. “I am truly sorry for what I did,” Ellison told the court. She and Bankman-Fried were close business associates who briefly dated. Bankman-Fried, 30, appeared Thursday in a US courtroom in New York, where a federal judge released him on a $250 million bond. Following his court appearance, Bankman-Fried was spotted in a business class lounge at New York’s John F. Kennedy International Airport.

☆ Sam Bankman-Fried appears in a New York court Thursday to face fraud charges
▼ + stars: | 2022-12-22 | by ( Kara Scannell | ) edition.cnn.com time to read: 1 min

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