legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts
Sam Bankman-Fried should spend between 40 and 50 years in prison after being convicted for stealing $8 billion from customers of his now-bankrupt FTX ...
reut.rs/3Vj7T6S
Quick Glance: Prosecutors Call for 40 to 50 Years in Prison for Sam Bankman-Fried
- Federal prosecutors are recommending a prison sentence of 40 to 50 years for FTX founder Sam Bankman-Fried for orchestrating one of the largest financial frauds in history.
- Convicted on fraud and conspiracy charges, Bankman-Fried stole at least $10 billion to fund his lavish lifestyle, make risky investments, and dispense charitable donations, defrauding investors and customers in the process.
- Prosecutors accuse Bankman-Fried of unmatched greed and hubris, disregarding ethical boundaries and causing financial devastation to many individuals through his relentless pursuit of wealth and power.
- Despite defense requests for leniency and a probation officer's recommendation of 100 years in prison, prosecutors insist that Bankman-Fried should face a significant sentence for his role in perpetrating one of the largest financial frauds in recent history.
Bankman-Fried appeals FTX fraud conviction, 25-year sentence: Sam Bankman-Fried, facing the prospect of spending much of his adult life behind bars ...
reut.rs/4cVrIYw
Sam Bankman-Fried's Likely to Get Out of Jail Early: Legal pathways may reduce Bankman-Fried's 25-year sentence that could see him free by 2036 ...
newsweek.com/sam-bankman-fried-jail-early-sentence-reduction-legal-nuances-ftx-collapse-1884787
Quick Glance: Sam Bankman-Fried's Verdict: 25-Year Prison Term - BBC News
- Sam Bankman-Fried received a 25-year prison sentence. Key details from the court hearing in New York were summarized, focusing on his defense lawyer's arguments and the judge's ruling.
- The judge criticized SBF's lack of remorse, noting that he had never expressed a word of regret for committing terrible crimes. Customers who lost money in the collapse reported experiencing nightmares.
- SBF admitted to making a series of poor decisions but claimed that customers could be reimbursed. The judge pointed out that the assertion that customers would be fully repaid through the bankruptcy process was misleading.
- The court hearing also included testimonies from customers who lost significant amounts of money, insights into SBF's background, and the reasons behind the collapse of his company FTX.
Annual incidents of cargo theft have nearly doubled since 2019. What can be done? Read our Logistics Report for solutions and data from CargoNet ... Show more bit.ly/3Sm6oC0
The Chris Pettit case, from start to federal sentencing in San Antonio: The former San Antonio attorney’s clients and others say he stole more than $250 million ...
expressnews.com/business/article/chris-pettit-case-san-antonio-18678728.php
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Are you at Manifest - The Future of Supply Chain & Logistics trade show? Pick up a copy of our first print Logistics Report! Or download it here: bit.ly/3Sm6oC0
The value and volume of deals in the Transportation and Logistics (T&L) sector declined by 82% and 33% respectively in the last 12 month thru Nov 15, 2023 ... Show more bit.ly/3Sm6oC0
‘Sam? Are you there?!’ The bizarre and brutal final hours of FTX: How Sam Bankman-Fried and his band of millennial millionaires lost a $40bn crypto empire
ft.com/content/6e912f25-f1b7-4b19-b370-007fbc867246
Paid articlePaidQuick Glance: Sam Bankman-Fried Avoids Second Trial
- U.S. prosecutors do not plan to conduct a second trial against former FTX Chief Executive Sam Bankman-Fried, who was convicted last month of stealing from customers of his now-bankrupt cryptocurrency exchange.
- Prosecutors said the strong public interest in a prompt resolution of the case against the 31-year-old former billionaire outweighed the benefits of a second trial.
- Bankman-Fried could face decades in prison when sentenced by U.S. District Judge Lewis Kaplan in Manhattan.
- A second trial would not affect how much time Bankman-Fried could face in prison, as Kaplan could consider all of Bankman-Fried's conduct when sentencing him for the counts on which he was convicted.
Four key retail moments in 2023: It was a busy year in retail.
cnn.com/2023/12/31/economy/retail-shopping-year-review/
Tesla fires new salvo at ex-worker bankrupted after feud with Elon Musk: The company on Tuesday (Jan 2) urged a bankruptcy judge not to let Martin Tripp off the ...
thestar.com.my/tech/tech-news/2024/01/03/tesla-fires-new-salvo-at-ex-worker-bankrupted-after-feud-with-elon-musk
"The taxpayer needs to be able to show that they lost their money due to theft," TaxBit's Miles Fuller says.Sam Bankman-Fried's conviction is going ... Show more #TaxWeek www.coindesk.com/video/how-does-a-tax-deduction-work-if-an-exchange-enters-bankruptcy/
FTX founder Sam Bankman-Fried testifies in own defence, says he didn’t defraud anyone or steal funds
theglobeandmail.com/business/international-business/article-jury-to-hear-testimony-from-ftx-founder-sam-bankman-fried-at-his-fraud/
Quick Glance: Sam Bankman-Fried testifies in fraud trial
- Bankman-Fried explains: 'I wasn't sure what was happening.'
- FTX founder Sam Bankman-Fried referred to it as the 'auto-deleveraging event' in his fraud trial.
- Bankman-Fried testified: 'The whole thing shouldn't have happened.'
- Sam Bankman-Fried and Gary Wang started FTX in 2019, despite the existence of numerous crypto exchanges.
Sam Bankman-Fried trial: ‘I knew basically nothing about crypto’: Sam Bankman-Fried, the cryptocurrency entrepreneur whose trading exchange went bankrupt after ...
thetimes.co.uk/article/sam-bankman-fried-trial-i-made-mistakes-but-didnt-commit-fraud-f6bcpbkrr
Paid articlePaid
Inside FTX’s All-Night Race to Stop a $1 Billion Crypto Heist: The same chaotic day FTX declared bankruptcy, someone began stealing hundreds of millions of ...
wired.com/story/ftx-1-billion-crypto-heist/
Quick Glance: FTX's Race to Stop a $1 Billion Crypto Heist
- Wang, who has pleaded guilty, did not respond to a comment request.
- LedgerX's Dexter started exploring a different approach to protect FTX's funds.
- The thieves could potentially take hundreds of millions of dollars worth of crypto from the company's wallets by then.
- FTX ultimately held $1.1 billion of the remaining FTX funds.
Takeaways From a New Book on Sam Bankman-Fried: “Going Infinite,” by Michael Lewis, offers a behind-the-scenes account of Mr. Bankman-Fried’s rise and fall.
nytimes.com/2023/10/02/technology/going-infinite-michael-lewis-sbf-takeaways.html
Quick Glance: Court hears that tweet about FTX was 'false'
- Former executive Gary Wang testifies that Mr Bankman-Fried was aware of the $8bn hole.
- The Department of Justice alleges that Mr Bankman-Fried misused customer funds for property purchases, political donations, and marketing expenses.
- Alameda was already withdrawing more money from FTX than it earned from customer trading fees by the end of 2019.
- In June 2022, Mr Bankman-Fried requested a review of Alameda's debts to FTX.
Will Evergrande’s collapse have a silver lining for crypto?: Cointelegraph’s resident expert Marcel Pechman discusses the Chinese real estate firm Evergrande’s ...
cointelegraph.com/news/evergrande-collapse-silver-lining-for-crypto
Lordstown Motors stalls on the road to a quick bankruptcy sale: Bankrupt Lordstown Motors (RIDEQ.PK) must face trial over a rival carmaker's claim that Lordstown ...
reuters.com/business/autos-transportation/lordstown-motors-stalls-road-quick-bankruptcy-sale-2023-07-27/
Bankrupt Lordstown Motors reaches $40 million settlement with Karma Automotive: Lordstown Motors said on Tuesday it had reached a $40-million settlement with ...
reuters.com/business/autos-transportation/bankrupt-lordstown-motors-reaches-40-million-settlement-with-karma-automotive-2023-08-15/
Sam Bankman-Fried, in First Detailed Defense, Seeks to Dismiss Charges: The FTX founder, who has been charged with fraud, said the crypto exchange and its law ...
nytimes.com/2023/05/08/technology/sam-bankman-fried-defense.html
Rio’s Power Utility Light Files for Bankruptcy Protection: Rio de Janeiro’s electric utility filed for protection from creditors after warning that it was ...
bloomberg.com/news/articles/2023-05-12/rio-de-janeiro-s-power-utility-files-for-bankruptcy-protection
Stolen Electricity Raises Threat of Rio Power-Supply Crisis: Rio de Janeiro’s electric company says so many people are stealing power in the city’s slums that it ...
bloomberg.com/news/articles/2023-05-09/rio-de-janeiro-utility-light-ligt3-wants-brazil-to-hike-rates
Former US Secret Service Agent Cites Crypto Crime to Back Anonymity for FTX Creditors
bloomberg.com/news/articles/2023-04-21/ex-us-secret-service-agent-backs-ftx-creditors-anonymity-on-crypto-crime-risk
Former US Secret Service Agent Cites Crypto Crime to Back Anonymity for FTX Creditors
bloomberg.com/news/articles/2023-04-21/ex-us-secret-service-agent-backs-ftx-creditors-anonymity-on-crypto-crime-risk
J&J’s sweetened talc settlement still unsettling: Johnson & Johnson (JNJ.N) is trying a little harder to settle claims that its talc harmed users ...
reuters.com/breakingviews/jjs-sweetened-talc-settlement-still-unsettling-2023-04-04/
Chris Pettit wants trial postponed to negotiate possible plea deal: Disgraced San Antonio lawyer Chris Pettit is accused of stealing tens of millions of dollars ...
expressnews.com/business/article/chris-pettit-plea-deal-trial-17808805.php
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You may be wondering if you can write off some of your crypto losses when you file your 2022 tax return next year. As with many tax question ... Show more
Can You Write Off Crypto Losses On Your Taxes?: With crypto suffering losses throughout 2022, investors may be wondering if they can deduct their losses on their ...
forbes.com/sites/robertfarrington/2023/01/19/can-you-write-off-crypto-losses-on-your-taxes/
You may be wondering if you can write off some of your crypto losses when you file your 2022 tax return next year. As with many tax question ... Show more
Can You Write Off Crypto Losses On Your Taxes?: With crypto suffering losses throughout 2022, investors may be wondering if they can deduct their losses on their ...
forbes.com/sites/robertfarrington/2023/01/19/can-you-write-off-crypto-losses-on-your-taxes/
You may be wondering if you can write off some of your crypto losses when you file your 2022 tax return next year. As with many tax question ... Show more
Can You Write Off Crypto Losses On Your Taxes?: With crypto suffering losses throughout 2022, investors may be wondering if they can deduct their losses on their ...
forbes.com/sites/robertfarrington/2023/01/19/can-you-write-off-crypto-losses-on-your-taxes/
FTX says hackers stole $415M after cryptocurrency exchange filed for bankruptcy: FTX met with debtors on Tuesday and reported that approximately $415 million in ...
foxbusiness.com/markets/ftx-says-hackers-stole-415m-cryptocurrency-exchange-filed-bankruptcy
Retailers try to curb theft while not angering shoppers: Increasingly, retailers are locking up more products or increasing the number of security guards at ...
richmond.com/news/national/retailers-try-to-curb-theft-while-not-angering-shoppers/article_28ee9809-39c8-5fa4-b5a8-06a744e558bf.html
Sam Bankman-Fried launches a newsletter to defend himself : ‘I didn’t steal funds,’ arrested crypto executive writes.
washingtonpost.com/business/2023/01/12/sam-bankman-fried-substack-newsletter/
FTX founder Bankman-Fried objects to tighter bail, says prosecutors 'sandbagged' him
financialpost.com/pmn/business-pmn/ftx-founder-bankman-fried-objects-to-tighter-bail-says-prosecutors-sandbagged-him
Paid articlePaid Sam Bankman-Fried: ‘I didn’t steal funds, and I certainly didn’t stash billions away’
cointelegraph.com/news/sam-bankman-fried-i-didn-t-steal-funds-and-i-certainly-didn-t-stash-billions-away
FTX has recovered $5B in liquid assets, bankruptcy lawyer says: An attorney for bankrupt crypto exchange FTX told a judge Wednesday the failed platform has ...
foxbusiness.com/markets/ftx-recovered-5b-liquid-assets-bankruptcy-lawyer
Quick Glance: Billionaire Cameron Winklevoss Demands Removal of "Lying" Barry Silbert, CEO of the floundering cryptocurrency conglomerate DCG
- Cameron Winklevoss called for the ouster of Barry Silbert, the troubled CEO of crypto holding company Digital Currency Group, in an open letter on Tuesday, citing suspected wrongdoing, the latest drama in the one-time billionaire Silbert's spectacular fall from grace amid the crypto winter.
- Silbert and other decision makers at Genesis and DCG, according to Winklevoss, "embarked on a carefully crafted campaign of lies" to conceal the serious liquidity issues at Genesis posed by the June 2022 bankruptcy of the Three Arrows Capital crypto hedge fund.
- According to our most recent estimations, Silbert was valued $3.2 billion in March 2022 and is now worth zero.
FTX founder Sam Bankman-Fried says he ‘didn’t steal funds’ in unusual post-arrest blog post
theglobeandmail.com/business/international-business/article-ftx-founder-sam-bankman-fried-says-he-didnt-steal-funds-in-unusual/
FTX customers ask bankruptcy court to keep their names secret: A group of FTX customers from outside the United States have asked a U.S. bankruptcy judge to keep ...
reuters.com/legal/ftx-customers-ask-bankruptcy-court-keep-their-names-secret-2022-12-29/
FTX customers file class action to lay claim to dwindling assets: FTX customers filed a class action lawsuit against the failed crypto exchange and its former ...
reuters.com/legal/ftx-customers-file-class-action-lay-claim-dwindling-assets-2022-12-28/
FTX hack: US prosecutors probe post-bankruptcy theft of $370 million: An analysis from blockchain analytic firm Elliptic last month said the stolen crypto was ...
markets.businessinsider.com/news/currencies/ftx-hack-us-prosecutors-probe-370-million-theft-sbf-bankruptcy-2022-12
U.S. reportedly investigating how $370-million vanished in alleged hack after FTX bankruptcy
theglobeandmail.com/business/international-business/article-us-reportedly-investigating-how-370-million-vanished-in-alleged-hack/
Crypto exchange FTX files for bankruptcy, then loses $370 million to hack; feds investigate
oregonlive.com/business/2022/12/crypto-exchange-ftx-files-for-bankruptcy-then-loses-370-million-to-hack-feds-investigate.html
The U.S. Department of Justice (DOJ) has opened a criminal investigation into the alleged hack that resulted in approximately $372 million being stolen from ... Show more
Insurers shun FTX-linked crypto firms as contagion risk mounts: Insurers are denying or limiting coverage to clients with exposure to bankrupt crypto exchange ...
reuters.com/technology/insurers-shun-ftx-linked-crypto-firms-contagion-risk-mounts-2022-12-19/
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