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Join the Securities Litigation and Enforcement Group on LinkedInSam Bankman-Fried’s fraud trial starts next week – Bloomberg
There is going to be a lot of media about it? Here is a New York Post story about an Alameda Research software engineer in Hong Kong who had the rather cinematic experience of ordering lunch on the corporate credit card, having the card declined, and immediately drawing the correct conclusion, which was “I need […]
Sam Bankman-Fried’s trial to test dueling explanations for FTX’s collapse | Reuters
In U.S. prosecutors’ telling, Sam Bankman-Fried embezzled money from depositors in his FTX cryptocurrency exchange ever since he launched it in 2019, and the resulting shortfall led directly to its collapse as crypto prices swooned last year. But in his own version and in explanations put forth by his lawyers, Bankman-Fried thought FTX, like a […]
FTX Founder SBF Files Repeat Request for Temporary Release Before Trial
Sam Bankman-Fried, the founder of collapsed cryptocurrency exchange FTX, has renewed a request for temporary release from jail during the course of his trial, according to a letter from his lawyers to the judge overseeing the case filed late Monday. The request saga started in August, when his release on bond was revoked and he […]
Sam Bankman-Fried (Probably) Won’t Get a 115-Year Prison Sentence
Before the judge gets to sentencing, the U.S. Probation and Pretrial Services System will create a recommendation. They may look at the trial transcript and Bankman-Fried’s background, and may potentially interview Bankman-Fried himself. That recommendation will go to the judge, and the defense and prosecution will each provide their own recommendations. Several lawyers CoinDesk spoke […]
Sam Bankman-Fried to stay in jail, appeals court rules | Reuters
A U.S. appeals court on Thursday upheld a judge’s decision to jail former cryptocurrency billionaire Sam Bankman-Fried ahead of his Oct. 3 trial on fraud charges stemming from the November 2022 collapse of his now-bankrupt FTX exchange. In a written decision, a three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said […]
Fenwick & West Says It Knew Nothing About Alleged FTX Fraud
Fenwick has asked a federal judge to toss a lawsuit alleging it played a role in FTX’s fraud, saying its work for the crypto exchange amounted to “routine” legal services. *** Fenwick’s alleged services can be reduced to “three basic acts,” the Gibson Dunn team, led by partner Kevin Rosen, argued—employing lawyers that eventually left […]
Bankman-Fried’s expert witnesses rejected by judge | Reuters
A U.S. judge on Thursday restricted Sam Bankman-Fried’s ability to call expert witnesses to testify at his criminal fraud trial, in a blow to the FTX cryptocurrency exchange founder. Bankman-Fried wanted to call seven experts on topics such as cryptocurrency markets and English contracts, to convince jurors to acquit him of stealing billions of dollars […]
Justice Department Probe Scrutinizes Elon Musk Perks at Tesla Going Back Years – WSJ
Federal prosecutors are scrutinizing personal benefits Tesla may have provided Elon Musk since 2017—longer than previously known—as part of a criminal investigation examining issues including a proposed house for the chief executive. The U.S. Attorney’s Office for the Southern District of New York also has sought information about transactions between Tesla and other entities connected to […]
Stanford University to return millions in donations from FTX
Stanford University reportedly plans to return the millions of dollars it received in charitable contributions from Sam Bankman-Fried’s crypto firm FTX before its spectacular collapse. The alleged fraudster’s parents — Joseph Bankman and Barbara Fried, longtime professors at Stanford Law School — allegedly pushed the crypto exchange and its related entities to donate “more than […]
Ex-US congressman sentenced to 22 months for insider trading | Reuters
Former U.S. Congressman Stephen Buyer was sentenced to 22 months in prison on Tuesday for trading on inside information he learned in 2018 as a consultant to T-Mobile US Inc ahead of its $23 billion merger with Sprint. U.S. District Judge Richard Berman in New York sentenced Buyer, who was found guilty on four counts […]