NY - Samuel Bankman-Fried (FTX), Alleged Fraud, Money Laundering, 2019-2022 *Arrest*

New Posts

news.bloomberglaw.com

FTX Sues Bankman-Fried, Others Over $220 Million Embed Deal

FTX Trading Ltd. sued Sam Bankman-Fried and other former leaders of the bankrupt crypto empire for allegedly using misappropriated funds to buy an “essentially worthless” stock-clearing firm in 2022 for $220 million.
news.bloomberglaw.com news.bloomberglaw.com

FTX is suing SBF and other former FTX upper-ups for using ill-gotten funds to purchase Embed Financial Technologies at an artificially inflated price of $220M. As the bankruptcy case continues, FTX has not been able to get a bid higher than $1M for the assets of Embed, and that bid is from the former founder, who made $157M when selling Embed to FTX and now has a complaint lodged against him by the new FTX leadership.
 
OVER 6 MILLION pages?!?!?!? Who can read that much?? No one. I doubt that even speedreading that many pages could be done. I also wouldn't recommend speedreading as you can miss important points. This is just unreal. And here I thought Stephen King's The Stand was pretty long at over 1,000 pages. lol
 
www.reuters.com

Bankman-Fried seeks documents from former FTX law firm in crypto fraud case

Sam Bankman-Fried is seeking documents from a law firm that advised his defunct FTX cryptocurrency exchange, saying in a court filing that they could help him beat fraud charges.
www.reuters.com www.reuters.com

www.reuters.com

Bankman-Fried hints at blame-the-lawyers defense in criminal case

Indicted FTX founder Sam Bankman-Fried seems to be gearing up to blame the lawyers who helped him establish the crypto exchange.
www.reuters.com www.reuters.com

SBF is seeking documents from Fenwick & West as evidence that he relied on their expertise as legal counsel to ensure that everything he was doing at FTX was above board.
 
finance.yahoo.com

Sam Bankman-Fried May Get Some Charges Dropped as Part of Extradition to U.S.

The U.S. government may drop some of the charges against former FTX CEO Sam Bankman-Fried, according to a court document
finance.yahoo.com finance.yahoo.com

US prosecutors are seeking a waiver from the Bahamian government to pursue charges against SBF related to conspiracy to commit bank fraud, conspiracy to operate an unlicensed money-transmitting business, and conspiracy to violate the Foreign Corrupt Practices Act.
 
www.coindesk.com

New York’s Met Museum Agrees to Return $550K in FTX Donations

The bankrupt crypto company is seeking the return of funds sent by Sam Bankman-Fried’s empire before its November collapse.
www.coindesk.com www.coindesk.com

“New York’s Metropolitan Museum of Art has agreed to return $550,000 in donations it received from FTX shortly before the crypto exchange collapsed in November 2022, according to Friday court filings.”

slate.com

The Feds Are Going After Binance. It Looks Like FTX but Worse.

Shocker: There appear to have been shenanigans at the world’s largest crypto exchange.
slate.com slate.com

“On Monday, the SEC filed more than a dozen charges against the international crypto exchange Binance” and its CEO CZ. FTX unraveled in November 2022 thanks in part to CZ casting public doubts on the legitimacy of FTX’s finances and backing out of a deal to purchase FTX.
 
Countem said:
“New York’s Metropolitan Museum of Art has agreed to return $550,000 in donations it received from FTX shortly before the crypto exchange collapsed in November 2022, according to Friday court filings.”
Click to expand...
Essentially a claw back. Wonder who else will be obligated to return an FTX donation?

I'm flashing back to other corrupt philanthropists who "donated" to charities and non-profits using stolen money. They used those funds as a way to enhance their standing in the community, got invited to black-tie galas because Wow! So generous, and then were exposed for the sleazy thieves they were.
 

FTX founder Sam Bankman-Fried will have his criminal trial split into two separate proceedings, a judge ruled Thursday, granting a request from prosecutors who worried that five of the 13 charges could be held up by a Bahamian court’s review.
Click to expand...

The original eight charges relate to wire fraud, securities fraud, money laundering, and campaign finance fraud.

The subsequent five charges relate to bank fraud, operating an unlicensed money-transmitting business, and bribery.

Bankman-Fried’s attorneys have challenged the legality of the five newer charges on the grounds that they weren’t part of the original extradition deal from the Bahamas, where FTX was based. A Bahamian court said it would review the challenge.
Click to expand...
 
Countem said:



The original eight charges relate to wire fraud, securities fraud, money laundering, and campaign finance fraud.

The subsequent five charges relate to bank fraud, operating an unlicensed money-transmitting business, and bribery.
Click to expand...
Did SBF miss doing anything else bad, that he could have been charged for, in addition to the above list? From that list it seems like he was going for the gusto and seeing how many criminality boxes he could check off a list or something. lol
 
www.thewrap.com

Former Hollywood Agent Michael Kives Took $700 Million From Sam Bankman-Fried for Investment Firm, Lawsuit Says

Super-networker Michael Kives faces a lawsuit targeting the investment firm he founded, K5 Global, in which FTX's bankruptcy lawyers seek to recover $700 million in investments doled out to the aforementioned firm's entities and associates.
www.thewrap.com www.thewrap.com

FTX’s bankruptcy lawyers seek to recover $700 million that FTX paid for connections with influential politicians and celebrities including Katy Perry and Orlando Bloom. To this end, two executives each personally received $125 million, with half-a-billion dollars on top of all that going to various K5 entities
 
www.bloomberg.com

Bankman-Fried's Subpoena of Law Firm Is Denied as ‘Fishing Expedition’

FTX co-founder Sam Bankman-Fried’s bid to get documents from the cryptocurrency exchange’s former law firm to help prove his innocence was denied by the federal judge overseeing his fraud case.
www.bloomberg.com www.bloomberg.com

cointelegraph.com

Judge blocks Bankman-Fried’s attempt to obtain key documents in fraud prosecution: Report

Sam Bankman-Fried’s request to obtain documents from Fenwick & West LLP for his defense in the federal fraud case has been denied by Judge Lewis Kaplan.
cointelegraph.com cointelegraph.com

SBF may argue that he relied on legal advice in his questioned business dealings. However, the judge has denied SBF’s bid to demand documents to support such a defense, calling it a “fishing expedition.”
 
Last edited:
www.bloomberg.com

FTX’s New Management Recovers $7 Billion in ‘Substantial Progress’

Sam Bankman-Fried’s crypto conglomerate made “false statements” to banks about accounts commingling customer funds and fired an employee who raised concerns about the practice, the new management of bankrupt FTX alleged in a report Monday.
www.bloomberg.com www.bloomberg.com

According to a report from FTX’s new management,
  • FTX employees were directed to lie to banks about using Alameda Research’s accounts for FTX.com customer transactions after some banks questioned Alameda’s wire activity in 2020.
  • CE estimated in March 2022 that FTX.com had a cash deficit of over $10 billion.
  • FTX created and used North Dimension Inc. as a shell company to receive customer deposits and fund withdrawals. When an FTX attorney (who had been employed for less than three months) discovered and raised concerns about North Dimension, the attorney was fired.
  • FTX’s current management team has recovered about $7 billion in liquid assets so far. (The FTX.com exchange owed customers approximately $8.7 billion when it filed for bankruptcy last year.)
 
  • CE estimated in March 2022 that FTX.com had a cash deficit of over $10 billion.
  • FTX’s current management team has recovered about $7 billion in liquid assets so far. (The FTX.com exchange owed customers approximately $8.7 billion when it filed for bankruptcy last year.)
Click to expand...
@Countem, I have to remind myself repeatedly because my mind has trouble processing a number that large: WIKI "Billion is a word for a large number, and it has two distinct definitions: 1,000,000,000, i.e. one thousand million, or 109 (ten to the ninth power), as defined on the short scale."
 
www.reuters.com

FTX accuses ex-lawyer of aiding Bankman-Fried's fraud, silencing whistleblowers

Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company.
www.reuters.com www.reuters.com


FTX is suing its former lawyer Daniel Friedberg for allegedly helping SBF engage in fraud by silencing whistleblowers and deliberately failing to institute compliance and risk mitigation checks.

Friedberg worked as both the Chief Compliance Officer of FTX US and as General Counsel of Alameda Research.
 
abcnews.go.com

Alleged crypto crook Sam Bankman-Fried asks judge to allow 'close friends' to visit

Alleged crypto crook Sam Bankman-Fried asks judge to allow 'close friends' to visit without a security guard present.
abcnews.go.com abcnews.go.com

SBF has asked the judge to allow “close friends and colleagues of SBF’s parents and household help” to visit his parents’ house without the need for a security guard to be present. The defense has asked that the names of those hosted be kept secret.
 
www.reuters.com

FTX seeks to recoup $323 million from failed European expansion

Bankrupt crypto exchange FTX sued insiders at FTX Europe AG late Wednesday, seeking to recover $323 million that FTX had invested in an ill-fated expansion into European crypto markets.
www.reuters.com www.reuters.com

FTX has sued insiders at FTX Europe, seeking to recover $323 million.

According to FTX, FTX’s acquisition of Digital Assets, AKA FTX Europe, was made with FTX customer funds. FTX acquired Digital Assets for nearly $400 million despite knowing that the company had little more than a business plan and was "not up and running yet.”

One of the cofounders of Digital Assets “spent FTX funds on a ‘lavish lifestyle,’ including spending $13 million on seven properties in Oregon, buying an armored Cadillac Escalade with cash, and hiring several servants including a butler and a full-time chef, according to FTX.”
 
Countem said:
abcnews.go.com

Alleged crypto crook Sam Bankman-Fried asks judge to allow 'close friends' to visit

Alleged crypto crook Sam Bankman-Fried asks judge to allow 'close friends' to visit without a security guard present.
abcnews.go.com abcnews.go.com

SBF has asked the judge to allow “close friends and colleagues of SBF’s parents and household help” to visit his parents’ house without the need for a security guard to be present. The defense has asked that the names of those hosted be kept secret.
Click to expand...
Where's the eyeroll emoji?
 
You must log in or register to reply here.

DNASolves

Who is Escambia County John Doe (1989)?

Members online

... and 163 more.
Total: 4,141 (members: 164, guests: 3,977)

Online statistics

Members online
164
Guests online
3,977
Total visitors
4,141
Totals may include hidden visitors.

Forum statistics

Threads
593,554
Messages
17,989,096
Members
229,164
Latest member
MiphasGrace
Back
Top