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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCrypto Exchange Kraken to End Japan Operations
Cryptocurrency exchange Kraken said it will exit Japan and de-register from the Financial Services Agency (JFSA) as of Jan. 31. The decision was prompted by “current market conditions in Japan in combination with a weak crypto market globally,” the company said in a blog post. Kraken users in the country have until the end of […]
In the Bahamas, a Lingering Sympathy for Sam Bankman-Fried – The New York Times
Yet in interviews across the island Mr. Bankman-Fried called home for just over a year, residents almost universally said that while the white-collar nature of his crimes was troublesome, they were hardly comparable to the gang violence that pervades some corners of the island. They expressed fears of economic fallout for the island if he […]
Next Financial Crisis Will Be From Crypto if It’s Not Banned: Indian Central Bank Governor
India’s central bank Governor Shaktikanta Das has predicted that the next financial crisis will come from “private cryptocurrencies” if they are allowed to be regulated and not banned outright. Das was speaking at the Business Standard BFSI Insight Summit on Wednesday. “Our view is that it should be prohibited because if you try to regulate […]
Disgraced crypto guru Sam Bankman-Fried will likely be placed on suicide watch | Daily Mail Online
Fallen crypto guru Sam Bankman-Fried is likely to be placed on suicide watch when moved to a tiny cell in his hellhole jail in the Bahamas, a prison official has told DailyMail.com exclusively. The former CEO of collapsed currency exchange FTX – who takes medication for depression – remains under evaluation in the maximum security […]
PCAOB Secures Complete Access to Inspect, Investigate Chinese Firms for First Time in History | PCAOB
For the first time in history, the PCAOB has secured complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong. And this morning the Board voted to vacate the previous determinations to the contrary. This historic and unprecedented access was only possible because of the leverage Congress created […]
Fox Hill Prison Where SBF Held a Far Cry From His Luxury Penthouse – Bloomberg
Despite its bucolic name, Fox Hill is known for overcrowding, poor nutrition, inadequate sanitation and substandard medical care, according to a 2020 US State Department report. The report described rat and maggot infestation as well as tiny cells with only buckets for toilets. *** Lawyers familiar with the extradition process said Bankman-Fried’s failure to win […]
Sam Bankman-Fried’s ‘chronically overcrowded’ Bahamas jail is infested with rats and maggots | Daily Mail Online
Fallen crypto giant Sam Bankman-Fried will be remanded in custody in the Bahamas in a prison that was described in 2019 as ‘not being fit for humanity.’ On Tuesday, a judge in Nassau ordered that the FTX founder be held without bail while he fights extradition to the United States on a range of charges […]
Bahamas Told Bankman-Fried to Mint New Crypto as FTX Collapsed, Lawyers Say – Bloomberg
Bahamas government officials worked closely with Sam Bankman-Fried and tried to help him regain access to key computer systems of bankrupt FTX Trading, lawyers for FTX said in a court filing before the failed crypto magnate was arrested on Monday. Before Bankman-Fried was blocked from FTX systems, the Bahamas asked him to mint new digital […]
FTX executives spent $256 million on Bahamas real estate
Bahhamian lawyers say FTX executives Sam Bankman-Fried and Ryan Salame spent $256.3 million spent to buy and maintain 35 different properties across New Providence, Bahamas. Now, Bahamas regulators are trying to claw back the property from FTX’s U.S. bankruptcy protection proceedings, telling a Delaware federal bankruptcy judge that allowing the properties to be administered in […]
Ernst & Young’s Germany Branch Escapes Wirecard Fraud Lawsuit
A German accounting firm affiliated with, but distinct from, Ernst & Young Global Ltd. won’t remain in a US investors’ suit over the collapse of Wirecard AG, a finance company that allegedly invented fictional escrow accounts worth €1.9 billion. Ernst & Young GmbH Wirtschaftspruefungsgesellschaft lacks enough of a link to the US to be sued […]