Sam Bankman-Fried , Sentenced to 25 Years , for FTX Fraud.
On March 28, Sam Bankman-Fried was sentenced to
25 years in prison after being found guilty of defrauding
users of FTX, the now-collapsed cryptocurrency exchange. .
NBC reports that Lower Manhattan federal district
Judge Lewis Kaplan found the defense's arguments
misleading, speculative and logically flawed.
The judge accused Bankman-Fried of committing
obstruction of justice and tampering with
witnesses while mounting his defense.
Kaplan reportedly said that those
factors played a role in his decision
about how to sentence Bankman-Fried.
Prosecutors had originally sought a longer sentence
of 50 years, while the defense fought for
Bankman-Fried to get no more than six and a half years.
Prosecutors had originally sought a longer sentence
of 50 years, while the defense fought for
Bankman-Fried to get no more than six and a half years.
In November, Bankman-Fried was convicted on seven
criminal counts. He has been held at Brooklyn's
Metropolitan Detention Center while awaiting sentencing.
In November, Bankman-Fried was convicted on seven
criminal counts. He has been held at Brooklyn's
Metropolitan Detention Center while awaiting sentencing.
At one time, FTX was valued at over $30 billion
but ultimately collapsed in November of
2022 after announcing a major cash shortfall.
At one time, FTX was valued at over $30 billion
but ultimately collapsed in November of
2022 after announcing a major cash shortfall.
While on trial, Bankman-Fried was accused
of robbing FTX customers of nearly $8 billion,
which was partially used to fund the extravagant
lifestyles of the exchange's executives.
While on trial, Bankman-Fried was accused
of robbing FTX customers of nearly $8 billion,
which was partially used to fund the extravagant
lifestyles of the exchange's executives.
NBC reports that Bankman-Fried's sentence
is harsher than other white-collar crimes
in recent memory, such as Theranos founder
Elizabeth Holmes who received just 11 years.
NBC reports that Bankman-Fried's sentence
is harsher than other white-collar crimes
in recent memory, such as Theranos founder
Elizabeth Holmes who received just 11 years.
The outlet also notes that the judgement is more
similar to the 25-year sentence given to former
WorldCom CEO Bernie Ebbers or the 24-year
sentence given to Enron CEO Jeff Skilling.
The outlet also notes that the judgement is more
similar to the 25-year sentence given to former
WorldCom CEO Bernie Ebbers or the 24-year
sentence given to Enron CEO Jeff Skilling
Credit: Wibbitz Top Stories Duration: 01:30Published
Bon Jovi is finally telling their story in the new Hulu docuseries 'Thank You, Goodnight.' Band members Jon Bon Jovi and Tico Torres, as well as director Gotham Chopra, spoke to THR's Tiffany Taylor all about the project. Jon Bon Jovi and Torres revealed what it was like reliving their 40-year career while watching the docuseries, as well as the "magic" of good songwriting that has made acts like their band and Taylor Swift massively successfully. Plus, Chopra revealed what Jon Bon Jovi has in common with sports legend Tom Brady, who he also made a documentary about, and shared how he convinced Richie Sambora to be featured in the docuseries after the guitarist left Bon Jovi in 2013. 'Thank You, Goodnight: The Bon Jovi Story' hits Hulu on Friday, April 26.
Credit: The Hollywood Reporter Duration: 05:19Published
2024 Rock & Roll Hall of Fame Inductees , Are Announced.
2024 Rock & Roll Hall of Fame Inductees , Are Announced.
This year's honorees are
Mary J. Blige, Cher, Dave Matthews Band.
This year's honorees are
Mary J. Blige, Cher, Dave Matthews Band.
This year's honorees are
Mary J. Blige, Cher, Dave Matthews Band.
Foreigner, Peter Frampton, Kool & The Gang.
Foreigner, Peter Frampton, Kool & The Gang.
Foreigner, Peter Frampton, Kool & The Gang.
Ozzy Osbourne and
A Tribe Called Quest, NPR reports. .
Ozzy Osbourne and
A Tribe Called Quest, NPR reports. .
John Sykes, chairman of the Rock & Roll
Hall of Fame Foundation, issued a
statement about this year's inductees.
Rock & Roll is an ever-evolving
amalgam of sounds that impacts
culture and moves generations, John Sykes, chairman of the Rock & Roll Hall of Fame Foundation, via NPR.
This diverse group of inductees
each broke down musical barriers
and influenced countless artists
that followed in their footsteps, John Sykes, chairman of the Rock & Roll Hall of Fame Foundation, via NPR.
Additionally, the Musical Influence Award will go to Alexis Korner, John Mayall and Big Mama Thornton.
Additionally, the Musical Influence Award will go to Alexis Korner, John Mayall and Big Mama Thornton.
Additionally, the Musical Influence Award will go to Alexis Korner, John Mayall and Big Mama Thornton.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Musical Excellence Award will be given to
Jimmy Buffett, MC5, Dionne Warwick
and Norman Whitfield.
The Ahmet Ertegun Award, which honors those
who don't perform music but have made an impact
in the industry, will go to Suzanne de Passe.
The induction ceremony will take place on Oct. 19 and will stream live on Disney+.
It will be available to view on Hulu the following
day and will also air on ABC at a later date.
It will be available to view on Hulu the following
day and will also air on ABC at a later date
Credit: Wibbitz Top Stories Duration: 01:30Published
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