Daily Archives: May 24, 2024, 9:57 am

FTX bankruptcy lawyers were not complicit in fraud, report finds | Reuters

FTX’s bankruptcy lawyers at Sullivan & Cromwell were not complicit in the fraud that caused the crypto company to collapse, a court-appointed examiner concluded on Thursday. Former FTX CEO Sam Bankman-Fried was convicted in November of stealing $8 billion from FTX customers. FTX creditors and investors had accused the company’s lawyers at Sullivan & Cromwell of failing to stop the…

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SEC Charges Former Fund Manager with Defrauding Two SPACs and a Private Issuer

The Securities and Exchange Commission today announced that Ganesh H. Betanabhatla, who previously managed private equity funds through his now-defunct Houston-based firm, Ramas Capital Management, LLC, has agreed to settle charges that he defrauded three issuers by committing to purchase $263.5 million of their securities on behalf of investment funds he managed when he and the funds did not have the…

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Ether Cryptocurrency ETFs Are Approved by the SEC – The New York Times

Federal regulators on Thursday approved an investment product tied to the cryptocurrency Ether, the most valuable digital asset after Bitcoin, in a major boost for the crypto industry. The Securities and Exchange Commission said a group of exchanges could begin listing investment products known as exchange-traded funds, or E.T.F.s, linked to the price of Ether. The products would offer an…

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DOJ Tries to Balance Whistleblower Pilot With Company Compliance

Justice Department officials developing a whistleblower policy to pay white-collar tipsters are consulting with other agencies and outside attorneys to fill gaps and address concerns, said one of the initiative’s planners Thursday. “We hope to make announcements soon,” said Molly Moeser, the acting chief of DOJ’s money laundering and assets recovery office, which has played a central role in building…

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