Sam Bankman-Fried Pleads Not Guilty , to Fraud Charges in New York.
Sam Bankman-Fried Pleads Not Guilty , to Fraud Charges in New York.
After being extradited from the
Bahamas to the U.S. on fraud charges.
After being extradited from the
Bahamas to the U.S. on fraud charges.
Bankman-Fried has been on house arrest
at his parents' house in California.
Bankman-Fried has been on house arrest
at his parents' house in California.
The FTX founder is accused of using investors' money to make large private purchases and donate to politicians, among other things.
.
The FTX founder is accused of using investors' money to make large private purchases and donate to politicians, among other things.
.
Bankman-Fried pleaded not guilty in Manhattan federal court on Jan.
3.
Bankman-Fried pleaded not guilty in Manhattan federal court on Jan.
3.
A tentative trial date of Oct.
2 has been set.
Prior to Bankman-Fried's arraignment, a task force was announced by U.S. Attorney Damian Williams.
The Southern District of New York is working around the clock to respond to the implosion of FTX, U.S. Attorney Damian Williams, via press release.
It is an all-hands-on-deck moment.
We are launching the SDNY FTX Task Force to ensure that this urgent work continues, powered by all of SDNY’s resources and expertise, until justice is done, U.S. Attorney Damian Williams, via press release.
FTX co-founder Gary Wang and Carolyn Ellison, who ran Bankman-Fried's crypto hedge fund trading firm,
Alameda Research, have both pleaded guilty to fraud charges.
FTX co-founder Gary Wang and Carolyn Ellison, who ran Bankman-Fried's crypto hedge fund trading firm,
Alameda Research, have both pleaded guilty to fraud charges
Sam Bankman-Fried , Speaks Out After Sentencing.
The former FTX CEO was sentenced
to 25 years in prison on March 28.
He was previously convicted of fraud, conspiracy and money laundering.
In an exclusive interview with ABC News,
the 32-year-old exhibited remorse for his actions, saying, "It's most of what I think about each day.".
Bankman-Fried attributed FTX's downfall to many "bad decisions" made in 2022, ABC News reports. .
I never thought that what I was
doing was illegal. But I tried to hold
myself to a high standard, and I
certainly didn't meet that standard. , Sam Bankman-Fried, to ABC News.
I've heard and seen the despair,
frustration and sense of betrayal from
thousands of customers; they deserve
to be paid in full, at current price, Sam Bankman-Fried, to ABC News.
That could and should have
happened in November 2022,
and it could and should happen
today. It's excruciating to see
them waiting, day after day, Sam Bankman-Fried, to ABC News.
Bankman-Fried went on to say that he's "haunted, every day, by what was lost.".
I'd give anything to be able to help
repair even part of the damage.
I'm doing what I can from prison,
but it's deeply frustrating not
to be able to do more, Sam Bankman-Fried, to ABC News.
Bankman-Fried plans to
appeal based on trial testimony that
"greatly misstated what actually happened.".
I'd give anything to be out there, trying
to make a positive difference in the
world, but I know that's not going to
happen. I can't help from prison, Sam Bankman-Fried, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
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
Harvey Weinstein's guilty verdict in New York was overturned, but there's no way that happens here on the West Coast ... according to the L.A. County D.A.'s.. TMZ.com
Harvey Weinstein's lawyer is saying it's a "great day in America" after the former Hollywood mogul's rape conviction in New York was overturned. Arthur Aidala, Weinstein's lawyer in the appellate case, opened the first press conference after the overturned conviction saying that his team always knew that "Harvey Weinstein did not get a fair trial." The New York state Court of Appeals overturned Weinstein's 2020 rape conviction Thursday, ruling that the judge in the New York County trial was prejudiced against Weinstein because among other things, the court allowed women to testify about allegations that were not part of the case.
Credit: The Hollywood Reporter Duration: 02:41Published
Harvey Weinstein's NYC rape conviction getting overturned has him so elated it's reduced him to tears as he sits in prison. Weinstein's rep Juda Engelmayer tells.. TMZ.com
Chris Pine's got the California surfer look down ... a style he seemingly raided from the set of his new movie "Poolman," and seems comfortable keeping long.. TMZ.com
Google Fires More Staffers , Following Protests Over , $1.2 Billion Israel Deal.
Google Fires More Staffers , Following Protests Over , $1.2 Billion Israel Deal.
'The Independent' reports that Google has fired at least
20 more workers following protests over the company
supplying Israel with technology amid the Gaza war.
'The Independent' reports that Google has fired at least
20 more workers following protests over the company
supplying Israel with technology amid the Gaza war.
A group representing the fired
workers said the total number of staff
terminated for protesting is now over 50. .
Internal turmoil at the tech giant revolves around
'Project Nimbus,' a 2021 contract for both Google and
Amazon to provide the Israeli government with technology. .
Internal turmoil at the tech giant revolves around
'Project Nimbus,' a 2021 contract for both Google and
Amazon to provide the Israeli government with technology. .
The $1.2 billion contract includes
cloud computing and artificial
intelligence services. .
The $1.2 billion contract includes
cloud computing and artificial
intelligence services. .
Last week, workers held sit-in
protests at Google's offices in both
New York and Sunnyvale, California.
The protests were organized by the group
No Tech For Apartheid, who said that 30 workers
were fired following the initial sit-in. .
According to Jane Chung, a spokeswoman for
No Tech For Apartheid, Google has now fired
"over 20" more workers, “including non-participating
bystanders during last week’s protests.”.
Google’s aims are clear:
the corporation is attempting
to quash dissent, silence
its workers, and reassert
its power over them, Jane Chung, a spokeswoman for No Tech For Apartheid, via 'The Independent'.
In its attempts to do so,
Google has decided to
unceremoniously, and
without due process,
upend the livelihoods of
over 50 of its own workers, Jane Chung, a spokeswoman for No Tech For Apartheid, via 'The Independent'.
In its attempts to do so,
Google has decided to
unceremoniously, and
without due process,
upend the livelihoods of
over 50 of its own workers, Jane Chung, a spokeswoman for No Tech For Apartheid, via 'The Independent'.
Google has disputed the group's claims,
stressing that the company carefully found that, “every single one of those whose employment
was terminated was personally and definitively
involved in disruptive activity inside our buildings.”
Credit: Wibbitz Top Stories Duration: 01:31Published
California was definitely hit with a few good April showers this year ... but as the warmer weather washes over the West Coast, we are bubbling up some of.. TMZ.com
How Did '4/20' Become
a Holiday for Weed?.
One common theory is that it stems
from a California criminal code for
those who distribute the drug.
According to CNN, California's 420 code is actually for obstructing entry on public land.
The state's medical marijuana
program was created from a bill
with the number 420.
Oaksterdam Cannabis Museum's Chris Conrad
says "4/20" started as a code in
Marin County, California, at San Rafael High School.
In the 1970s, a group called
"The Waldos" would get together at
4:20 PM to smoke pot.
The time of the day was convenient as it
was right after school ended with
no parental supervision just yet.
"4/20" became a code word that allowed
them to notify each other in front of
unsuspecting parents.
From there, the phrase likely
spread across the country
Credit: Wibbitz Top Stories Duration: 01:02Published
The world's first known combat between a human pilot and a fighter jet controlled by AI has been carried out in California, the US military has said. Sky News
Homes Linked to Diddy , Are Raided by Federal Officials.
HSI New York "executed law enforcement actions
as part of an ongoing investigation with assistance
from HSI Los Angeles, HSI Miami and our local law enforcement partners" on March 25, authorities said.
Sean "Diddy" Combs does not own the home in Los Angeles, but the mansion has ties with his company, Bad Boys Film Production.
The Miami residence, however, was bought
by Combs in 2021, NPR reports. .
Phones belonging to Combs
were seized by Homeland Security
officials in Miami prior to the 54-year-old
attempting to board a flight to the Bahamas.
The motive for the raids has not been made clear, .
but they follow a lawsuit alleging that Diddy leads an enterprise that could be considered a "widespread and dangerous criminal sex trafficking organization.".
I drive by a lot, and I see that — a lot of girls, maybe five or six girls outside, some leaving, some not, some going in. I never thought anything of it. But now, it’s crazy, Ryan Mendelsohn, 20, who used to live
in and still frequents the area, via NBC News.
The rapper and producer has also been accused
of the "solicitation and distribution of illegal narcotics and firearms," NBC News reports. .
That suit follows other claims of sexual misconduct, assault, sex trafficking and rape, most notably put forth by Combs' ex-girlfriend, Cassie Ventura. .
Producer Rodney "Lil Rod" Jones has also
sued Diddy for alleged sexual assault.
Credit: Wibbitz Top Stories Duration: 01:30Published
The New York state Court of Appeals has overturned Harvey Weinstein’s 2020 rape conviction. The court ruled that the judge in the New York County trial prejudiced Weinstein with improper rulings, including allowing women to testify about allegations that were not part of the case. The court ruled that a new trial must take place.
Credit: The Hollywood Reporter Duration: 01:37Published
Alec Baldwin got into a dust-up with an anti-Israel protester in NYC ... smacking away her cell phone after he was provoked by her. The actor was talking on his.. TMZ.com
The man who lit himself ablaze outside the Trump trial courthouse in NYC has died. Max Azzarello was rushed in critical condition to a hospital Friday after he.. TMZ.com
Florida Nursing Schools , Part of Alleged , Wire Fraud Scheme .
CBS reports that federal officials have
uncovered an alleged scheme involving
three South Florida nursing schools. .
As a result of..
Credit: Wibbitz Top Stories Duration: 01:31Published
"I'm known as the 'Nostradamus of the Art World' because my paintings foreshadow events but It's not that I can see the future, it's that as an..
Trump Organization Sentenced , to Pay $1.61 Million for Tax Fraud.
NPR reports that on Jan. 13, the Manhattan
criminal court ordered two of Trump's companies
to pay the combined amount for tax..
Credit: Wibbitz Top Stories Duration: 01:30Published
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