Tag: bankman-fried:
FTX Co-Founder Sam Bankman-Fried to Enter Plea Next Week – CNET
FTX’s Sam Bankman-Fried Borrowed From Alameda To Buy Robinhood Shares
Crypto lender BlockFi, which like FTX has filed for bankruptcy, alleged in a court document (PDF) that it was owed the rights to the Robinhood shares due to a deal Bankman-Fried made in early November. The shares were pledged as collateral against a loan taken out by Alameda Research — the same firm whose funds were used to purchase the shares to begin with, according to Tuesday’s filing.
Read more of this story at Slashdot.
Market Extra: Caroline Ellison, associate of Sam Bankman-Fried, says she’s ‘truly sorry’ for stealing billions of FTX customer money
Sam Bankman-Fried LEAKED Testimony!! What It Says!?
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FTX boss Sam Bankman-Fried arrives in US to face charges
Former FTX boss Sam Bankman-Fried agrees to be extradited to US, says lawyer
FTX founder Bankman-Fried ‘dozed off and had to be woken up by official’ in court
FTX founder Sam Bankman-Fried agrees to extradition to the US
When the Bahamas Attorney General’s office announced that it had arrested former FTX CEO Sam Bankman-Fried, it noted that the former FTX CEO was likely to be extradited at the request of the United States. Just over a week later, that prediction has come true: Bankman-Fried signed extradition papers on Tuesday afternoon.
According to an unsealed indictment, Bankman-Fried is facing 8 counts of conspiracy to commit wire fraud, commodities fraud, securities fraud, and more. Specifically, the SEC accuses the cryptocurrency founder of “orchestrating a massive, years-long fraud” for “his own personal benefit and to help grow his crypto empire.” The Department of Justice has accused him of attempting commodities and securities fraud, conspiring to defraud investors and breaking federal election laws for donating more to political groups than is legally allowed.
Bankman-Fried originally planned to fight extradition, but indicated on Monday that he would reverse course. Now, he will be returning to the US to face those charges, a decision that might be easier on him in the short term. When the former CEO was first arrested in the Bahamas, he was denied bail and deemed a flight risk. In the United States, it’s possible he could be released on bail.
Bankman-Fried has previously said that he “didn’t ever try to commit fraud,” and doesn’t believe he’s criminally liable for the fall of FTX. The New York Times reports that a defense lawyer representing Bankman-Fried in the Bahamas says that he’s returning to the US because he “wishes to put the customers right, and that is what has driven his decision.”
Sam Bankman-Fried Agrees To US Extradition
Earlier in the day, Roberts said during a court hearing in Nassau that his client had seen an affidavit laying out the charges against him over FTX’s dramatic collapse, but had not yet read the indictment filed last week in Manhattan federal court. After the hearing, Bankman-Fried was remanded back to the custody of the Bahamas’ Department of Corrections. He departed the courthouse in a black van marked “Corrections,” carrying a manila folder containing papers, a Reuters witness said.
Read more of this story at Slashdot.