All articles tagged with #fraud conviction
Hong Kong's Court of Appeal overturned Jimmy Lai's 2022 fraud convictions related to Apple Daily's office lease, but Lai remains imprisoned after a separate national security case that carries a 20-year sentence for colluding with foreign forces; rights groups and family say the ruling does little to restore the rule of law and Lai's health remains a concern as he has been detained since 2020.
Hong Kong’s Court of Appeal reversed the fraud convictions against Jimmy Lai, ruling the alleged concealment and lease breach did not meet the fraud threshold; Lai still serves a 20-year sentence from a separate national security case, and the government may appeal the ruling.
An appellate court in Hong Kong voided Jimmy Lai’s fraud convictions related to a lease arrangement, ruling prosecutors failed to prove false representations beyond reasonable doubt; Lai remains jailed because of a separate 20-year sentence in a national-security law case, marking a rare win in his legal battles amid ongoing concerns about press freedom in Hong Kong.
A former HSBC trader, Mark Johnson, who was convicted in the US for alleged forex manipulation, has had his conviction overturned after a nine-year legal battle, with the court ruling that his actions were consistent with industry practices and not illegal.
A former HSBC currencies chief successfully had his fraud conviction overturned, highlighting a significant legal development in a financial crime case.
UK Transport Secretary Louise Haigh has resigned following the revelation of a fraud conviction. This development has prompted her to step down from her position in the government.
A New York judge has postponed Donald Trump's sentencing for a third time in his criminal fraud case, as Trump's legal team argues for dismissal based on presidential immunity and potential interference with his presidential duties. Trump was found guilty of 34 felony fraud counts related to falsifying business records to conceal a hush-money payment. The Manhattan district attorney is pushing for sentencing but has suggested it could be delayed until after Trump's presidency. The judge has set deadlines in December for both parties to submit further arguments.
Sam Bankman-Fried, the founder of FTX, is being transferred from a New York prison to one in Mendota, California, against his wishes, as he appeals his 25-year sentence for defrauding customers of the now-defunct FTX cryptocurrency exchange. Despite his desire to stay in New York to prepare for his appeal, he ultimately wants to serve his term in California to be closer to his parents. The move comes after prosecutors recommended a 40- to 50-year sentence, while Bankman-Fried requested a much shorter term.
Former President Donald Trump's $175 million bond to appeal his $454 million fraud conviction in New York has raised concerns among experts, as it appears to rely on an irregular arrangement with Knight Specialty Insurance Company, led by billionaire Don Hankey. The bond filing suggests that Trump himself may be responsible for paying the bond, which experts say is highly unusual and effectively negates the purpose of an insurance company guarantee. Questions have been raised about the issuer's ability to cover the bond, and a hearing on the matter is scheduled for April 22.
Sam Bankman-Fried, the founder of FTX, is seeking a lenient sentence and preparing to appeal his conviction for fraud. His legal team, including high-profile lawyer Marc Mukasey, is set to file a memo arguing against a potential life sentence before his sentencing on March 28. Bankman-Fried's family and supporters are working to reverse his conviction and change the public narrative about his leadership at FTX.
Elizabeth Holmes, former CEO of Theranos, has had her prison sentence delayed after appealing a lower court's decision to deny her release while she appeals her original fraud conviction. Holmes' lawyers claim that the decision contained "numerous, inexplicable errors." While this keeps Holmes out of prison for now, it may only be a brief reprieve. Holmes was convicted in January 2022 of four counts of wire fraud charges and was sentenced to more than 11 years in a federal penitentiary.
Elizabeth Holmes, founder and CEO of Theranos, has been ordered to report to prison while she appeals her fraud conviction. A U.S. District Court judge ruled that the portion of the conviction that Holmes is appealing is not likely to be overturned. Holmes was found guilty on four counts of fraud in January 2022 and was sentenced to more than 11 years in prison. Despite not being a flight risk, Holmes is expected to report to a minimum-security facility on April 27.