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Sambankmanfried

All articles tagged with #sambankmanfried

legaljustice2 years ago•1 min saved

"FTX's Sam Bankman-Fried Avoids Second Trial as DOJ Dismisses Charges"

The U.S. Department of Justice has decided not to proceed with a second trial against Sam Bankman-Fried, the former head of the cryptocurrency exchange FTX, dropping five additional charges against him. These charges included conspiracy to bribe foreign officials, bank fraud, and securities fraud, among others. This decision was made to avoid delays due to extradition processes and in the interest of a prompt resolution. Despite the dropped charges, evidence of wrongdoing was presented in the first trial, and the DOJ suggests that the judge can consider these crimes during sentencing. Critics, including Coinbase's Chief Legal Officer, have expressed concern that the dropped charges, especially those related to campaign finance, should be publicly examined.

via Gizmodo|

##crypto #doj

legalfinancial2 years ago•3 min saved

"Prosecutors Forego Second Trial for FTX Founder Sam Bankman-Fried Amid Criticism"

The US has decided not to pursue a second trial against FTX co-founder Sam Bankman-Fried, who was convicted of wire fraud and money laundering, among other charges. This decision was made to avoid delaying the sentencing and restitution process for the victims of the FTX fraud. Bankman-Fried's sentencing remains scheduled for March 28, where he faces a maximum sentence of 110 years. The US attorney cited the strong public interest in a prompt resolution and the overlap of evidence from the first trial as reasons for dropping the second trial. Bankman-Fried has been accused of misappropriating billions of dollars from FTX customers and attempting to influence cryptocurrency regulation through campaign contributions.

via Ars Technica|

##fraudcharges #ftxscandal

cryptocurrency2 years ago•2 min saved

"Sam Bankman-Fried Escapes Second Trial as Prosecutors Decline Further Charges"

Robert F. Kennedy Jr., a pro-Bitcoin presidential candidate, has suggested that corruption may be the underlying reason for the US government dropping six charges against FTX founder Sam Bankman-Fried. Kennedy believes that the system's corruption is a more significant issue than the alleged fraud by SBF. Despite the dropped charges, Bankman-Fried's sentencing is still set for March 28, 2024, with legal experts predicting a potential prison term of over 20 years. However, Kennedy's comments raise the possibility of a lighter sentence, although Judge Lewis Kaplan has so far shown an unbiased stance in pre-trial rulings.

via Bitcoinist|

##corruption #cryptocurrency

cryptocurrency2 years ago•4 min saved

"2023's Crypto Resurgence: Legal Triumphs, Shiba Inu's Rise, and Bitcoin's Remarkable Recovery"

The year 2023 in cryptocurrency was marked by significant events including Ripple's legal victory over the SEC, the launch of Shiba Inu's Shibarium layer-2 network, and Bitcoin's price surge nearing $45,000. Other notable occurrences were PayPal's stablecoin launch, Bill Gates' rejection of Web3, the depegging of USDC, Do Kwon's arrest, Sam Bankman-Fried's conviction, BlackRock's Bitcoin ETF filing, and Changpeng Zhao's downfall with Binance's hefty fine. These events reflect the dynamic and evolving nature of the crypto industry, with legal and regulatory developments shaping the landscape.

via U.Today|

##bitcoin #cryptocurrency

year-in-review2 years ago•16 min saved

"2023 Year in Review: Celebrating Victors, Reflecting on the Unforgettable, and the Rise of New Heroes"

2023 was a year marked by significant triumphs and failures. Taylor Swift's career soared, becoming a billionaire and dating Travis Kelce, while Bud Light faced a marketing backlash and lost its top-selling beer status. Sam Bankman-Fried was convicted of fraud and faces a century in prison. George Santos was expelled from Congress for fabricating his background, and Hunter Biden faced criminal charges. The airline industry struggled with delays and safety issues, and several banks collapsed, sparking financial fears. Fox News settled a defamation lawsuit for a hefty sum and fired Tucker Carlson. San Francisco grappled with urban decline, while Harvard's president faced criticism over comments on antisemitism. AI technology, particularly ChatGPT, saw widespread adoption and success. Weight loss drugs became popular despite shortages and potential side effects. Hollywood strikes led to significant industry concessions, and the tech sector, especially Nvidia, experienced substantial growth. A Chinese spy balloon incident caused a diplomatic stir, and a quirky social media trend saw men confessing their daily thoughts about the Roman Empire.

via Daily Mail|

##ai #budlightcontroversy

business-and-finance2 years ago•5 min saved

"From Boom to Courtroom: The Rise and Fall of Crypto's Billionaire CEOs"

FTX, once a prominent crypto exchange, collapsed in scandal as its co-founder Sam Bankman-Fried (SBF) was found guilty of fraud and conspiracy, facing up to 110 years in prison. Insider stories reveal a culture of extravagance, including SBF's $35 million penthouse shared with colleagues and a web of romantic relationships within his inner circle. The company's downfall exposed the misuse of customer funds and shattered the image of SBF, who was once celebrated for his philanthropy and connections with celebrities.

via Business Insider|

##bankruptcy #business-and-finance

law-and-government2 years ago•4 min saved

"DOJ Declines Second Trial for FTX's Sam Bankman-Fried Amid GOP Criticism"

The Department of Justice (DOJ) has decided not to pursue a second trial against FTX founder Sam Bankman-Fried for campaign finance violations and other charges, despite his previous conviction on fraud and conspiracy counts. Critics, including Republican lawmakers and figures within the cryptocurrency industry, argue that this decision prevents public scrutiny of political donations and potential influence on regulation. Bankman-Fried, a significant donor to both Democratic and Republican campaigns, allegedly used customer funds for these donations. The DOJ cited the strong public interest in a prompt case resolution and the fact that evidence of the additional charges was already presented in the first trial as reasons for not proceeding with a second trial.

via Daily Mail|

##campaignfinance #cryptocurrency

society-and-ethics2 years ago•1 min saved

"Exploring the Complex Landscape of Effective Altruism Ethics"

The effective altruism community is facing controversies due to the actions of two prominent figures named Sam—Sam Bankman-Fried, associated with a bankrupt cryptocurrency exchange, and Sam Altman, involved in debates over artificial intelligence ethics. While the community is trying to move past Bankman-Fried's scandal, Altman's recent actions have sparked new ethical debates, particularly in relation to a research partnership on AI. Despite these challenges, the community continues to engage in discussions about morality and the future of humanity, highlighting the movement's resilience amidst scrutiny.

via BNN Breaking|

##controversy #effectivealtruism

legalcrime2 years ago•1 min saved

"U.S. Prosecutors Decide Against Second Trial for FTX's Sam Bankman-Fried"

Prosecutors have advised against a second trial for FTX founder Sam Bankman-Fried, who was convicted of fraud in November, arguing that it would be redundant and delay restitution for victims. Bankman-Fried, facing decades in prison, had additional charges dropped due to extradition technicalities, but prosecutors believe these charges would not extend his sentence and have included related evidence in the initial trial. Sentencing is scheduled for March 28.

via Newser|

##cryptocurrencyfraud #ftx

law-and-government2 years ago•2 min saved

"Prosecutors Forego Second Trial for FTX Founder Sam Bankman-Fried"

U.S. prosecutors have decided not to pursue a second trial for Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, who was found guilty of fraud and money laundering. They will move directly to sentencing, citing the strong public interest in a prompt resolution and the sufficiency of evidence from the first trial. Bankman-Fried, who could face up to 110 years in prison, is expected to appeal his conviction. The decision to forgo a second trial is also based on the belief that it would not benefit the victims through forfeiture or restitution and would not alter the potential prison time. Bankman-Fried has been in jail since August and is awaiting sentencing scheduled for March 28.

via Al Jazeera English|

##cryptofraud #ftx

legalfinance2 years ago•3 min saved

"Prosecutors Drop Second Trial Plans for FTX Founder Bankman-Fried"

Sam Bankman-Fried, the former CEO of the bankrupt FTX cryptocurrency exchange, will not face a second trial on charges including campaign finance violations, despite being convicted of fraud and conspiracy. Prosecutors have decided that the public interest in a swift resolution and the evidence already presented at the first trial, which can be considered during sentencing, outweigh the need for a second trial. Bankman-Fried, who has been convicted on all seven counts he faced, could spend decades in prison and is expected to appeal his conviction. The sentencing is set for March 28, where issues of forfeiture and restitution for victims will be addressed.

via Daily Mail|

##campaignfinanceviolations #cryptocurrency

law-and-government2 years ago•1 min saved

"U.S. Prosecutors Confirm No Second Trial for FTX Founder Sam Bankman-Fried"

Sam Bankman-Fried, the founder of FTX, will not be retried on charges of making unlawful campaign contributions after being convicted of fraud, conspiracy, and money laundering in a separate trial. Federal prosecutors in New York have decided not to pursue a second trial, citing the public interest in a prompt resolution. Bankman-Fried, who pleaded not guilty to all counts, was accused of misusing customer funds on the FTX platform for personal expenses and could face up to 110 years in prison. His sentencing is set for March 28, 2024.

via ABC News|

##campaigncontributions #crypto

moneywatch2 years ago•2 min saved

"DOJ Opts Out of Second Trial for Sam Bankman-Fried, Prioritizes Sentencing"

Prosecutors have decided not to pursue a second trial against FTX founder Sam Bankman-Fried, who was convicted in November of fraud charges involving at least $10 billion. The decision was made to avoid duplicating evidence and to expedite the resolution of the case, which is in the public interest, especially for the victims awaiting restitution. Bankman-Fried, facing decades in prison, will be sentenced on March 28 without the additional charges that were temporarily dropped due to extradition technicalities. The prosecution believes that a second trial would not affect the potential prison sentence length and emphasizes the need for a timely and just resolution for the victims.

via CBS News|

##cryptocurrencyfraud #ftx

legalfinance2 years ago•2 min saved

"Prosecutors Drop Second Trial Against Crypto Mogul Sam Bankman-Fried Amid Controversy"

U.S. prosecutors have decided not to pursue a second trial against Sam Bankman-Fried, the founder of the now-bankrupt FTX cryptocurrency exchange, who was convicted on all seven counts of fraud and conspiracy last month. The decision was made in the interest of a prompt resolution and because a second trial would not impact the sentencing, which is set for March 28, 2024. Bankman-Fried, who could face decades in prison, is expected to appeal his conviction. The additional charges, including campaign finance violations and conspiracy to operate an unlicensed money transmitting business, will not be pursued at this time, partly because the evidence was largely presented during the first trial.

via Yahoo! Voices|

##cryptocurrency #fraudtrial