Sam Bankman-Fried’s trial is going about as well as expected
The prosecution may wind up its case when Sam Bankman-Fried's trial resumes on October 26, after which SBF’s team will have a week to 10 days to present its case.
The prosecution may wind up its case when Sam Bankman-Fried's trial resumes on October 26, after which SBF’s team will have a week to 10 days to present its case.
Testifying before the court, former Alameda CEO Caroline Ellison claims Sam Bankman-Fried "directed" her into committing the crimes, which include siphoning "several billions of dollars" from FTX customers.
U.S. District Judge Lewis Kaplan denied a motion by SBF’s attorneys to preclude the DOJ from introducing evidence the government delivered to the defense after July 1.
The U.S. prosecutors filed another superseding indictment accusing SBF of stealing “billions of dollars” from FTX customers while Salame invoked his Fifth Amendment right.
Though he played a central role in the company’s affairs, Ryan Salame has escaped the worst of the negative press directed at founder Sam Bankman-Fried and Alameda CEO Caroline Ellison.
Nishad Singh entered guilty pleas to six criminal charges, including wire fraud, conspiracy to commit securities fraud, money laundering, and violate campaign finance laws.
U.S. District Court Judge Lewis Kaplan has ordered SBF to refrain from using VPN when accessing the internet from his house arrest at his parents’ home in California.
The fraud division of Department of Justice recently began scrutinizing Silvergate Bank for its dealings with SBF's FTX exchange and its affiliated market-maker Alameda Research, according to Bloomberg.
Sam Bankman-Fried launched a Substack account and insisted that FTX's U.S.-facing exchange "remains fully solvent" and would "return all customers' funds."
The DOJ is looking into the $372 million hack from FTX-controlled wallets that occurred the day after the embattled firm of former CEO Sam Bankman-Fried filed for Chapter 11 bankruptcy.
As per U.S. securities regulator, Caroline Ellison had misappropriated customer funds from FTX to use in Alameda's trading activity, while Wang had created the software that allowed this to happen.