FTX founder Bankman-Fried convicted of defrauding cryptocurrency customers
After the monthlong trial, jurors rejected Bankman-Fried’s claim during testimony in Manhattan federal court that he never committed fraud or meant to cheat customers before FTX, once the world’s second-largest crypto exchange, collapsed into bankruptcy a year ago.
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
Steve Buscemi was captured on video casually walking on the street moments before he was randomly sucker punched by a hulking assailant in NYC. On Monday, CBS.. TMZ.com
Actor Steve Buscemi , Releases Statement Saying He's, Okay After NYC Attack.
Associated Press reports that actor Steve Buscemi
is recovering after randomly being punched in
the face by a man on the street in New York City. .
According to the 66-year-old actor's publicist,
the 'Boardwalk Empire' star was assaulted
on the morning of May 8 in Manhattan.
After the attack, Buscemi was taken
to a nearby hospital with bruising,
swelling and bleeding from his left eye. .
Steve Buscemi was assaulted
in Mid-Town Manhattan,
another victim of a random
act of violence in the city. , Steve Buscemi's publicist, via Associated Press.
He is ok and appreciates
everyone’s well wishes, Steve Buscemi's publicist, via Associated Press.
According to the local police department,
no arrests have been made and
the investigation is still ongoing.
On March 31, Buscemi's fellow 'Boardwalk Empire'
actor Michael Stuhlbarg was struck in the back of
the neck with a rock while in Manhattan's Central Park.
On March 31, Buscemi's fellow 'Boardwalk Empire'
actor Michael Stuhlbarg was struck in the back of
the neck with a rock while in Manhattan's Central Park.
In that incident, Stuhlbarg gave
chase and the attacker was taken
into custody outside the NYC park.
In the recent attack involving Buscemi,
the New York Police Department initially
released a nameless statement on the assault.
The 'Fargo' star's publicist confirmed to
the New York Post that the unidentified
victim in the attack was the actor.
Credit: Wibbitz Top Stories Duration: 01:31Published
Harvey Weinstein’s Rape Conviction , Is Overturned.
New York's Court of Appeals
overturned the movie mogul's 2020 rape conviction by a vote of 4-3 on April 25.
According to the appeals court, trial judge James Burke "prejudiced Weinstein with 'egregious' improper rulings," AP reports. .
For example, he let women bring forth allegations against Weinstein that he wasn't charged with.
The action was an "abuse of judicial discretion," the appeals court said. .
Without question, this is appalling,
shameful, repulsive conduct that
could only diminish defendant’s
character before the jury, New York's Court of Appeals, via AP.
Although this conviction has been overturned, the 72-year-old will remain in prison due to a separate 2022 rape conviction in Los Angeles.
His lawyers have chosen to
appeal that conviction as well. .
Jennifer Bonjean, who helped free Bill Cosby from
prison, issued a statement about the development.
Jennifer Bonjean, who helped free Bill Cosby from
prison, issued a statement about the development.
A jury was told in California that
he was convicted in another
state for rape ... turns out he
shouldn’t have been convicted
and it wasn’t a fair conviction… , Jennifer Bonjean, Harvey Weinstein's attorney, via AP.
It interfered with his
presumption of innocence in
a significant way in California, Jennifer Bonjean, Harvey Weinstein's attorney, via AP.
On April 25, prosecutors said that "the legal issues identified by the New York Court of Appeal are
not present in the Los Angeles County Case.".
The Manhattan district attorney's office
said they will "do everything in our power to
retry this case, and remain steadfast in our commitment to survivors of sexual assault."
Credit: Wibbitz Top Stories Duration: 01:31Published
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
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
It's Casual Friday! Sam and Emma speak with Jacob Silverman, co-author of the book Easy Money:Â Cryptocurrency, Casino Capitalism, and the Golden Age of Fraud with Ben McKenzie, and host of..
Sam Bankman-Fried Found Guilty , on All Fraud Counts.
The FTX founder has been convicted of
seven criminal counts of fraud, CNBC reports.
Five counts pertain to conspiracy, and
two counts are..
Credit: Wibbitz Top Stories Duration: 01:31Published
FTX founder Sam Bankman-Fried was convicted of fraud and money laundering by a New York jury in a landmark criminal verdict that is likely to condemn the former crypto tycoon to decades in prison and..
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