FTX TRIAL
Sam Bankman-Fried appeals FTX fraud conviction, 25-year sentence
Facing a 25-year prison term, Sam Bankman-Fried has appealed his conviction for stealing $8 billion from FTX customers. The ex-billionaire crypto wunderkind's downfall involved fraud charges and commingling assets.
Sam Bankman-Fried appeals FTX fraud conviction, 25-year sentence
Defense lawyer Marc Mukasey had announced plans for the appeal to the Manhattan-based 2nd U.S. Circuit Court of Appeals during Bankman-Fried's March 28 sentencing hearing. The 32-year-old former billionaire crypto wunderkind was convicted in November on seven counts of fraud and conspiracy in what federal prosecutors have called one of the biggest financial frauds in U.S. history.
Sam Bankman-Fried prosecutor says Gary Wang's cooperation sped up case
Speaking five days after Sam Bankman-Fried was sentenced to 25 years in prison, Assistant U.S. Attorney Thane Rehn said former FTX Chief Technology Officer Gary Wang's assistance was key to helping investigators understand how Bankman-Fried stole $8 billion in customer funds.
Sam Bankman-Fried apologizes to FTX ex-colleagues at sentencing hearing
Sam Bankman-Fried, the 32-year-old former billionaire and founder of the now-bankrupt FTX cryptocurrency exchange, faced his sentencing hearing after being found guilty on seven fraud and conspiracy counts for stealing $8 billion from customers. Despite his defense's argument that FTX customers would be reimbursed through bankruptcy proceedings, the judge found Bankman-Fried guilty of lying during his trial and rejected the notion that customers would be fully compensated.
Sam Bankman-Fried lives 'life of delusion,' new FTX CEO says as sentencing looms
John Ray criticizes Sam Bankman-Fried's delusion claiming FTX funds recovery post $8 billion theft conviction. Lawyers aim for reduced sentence. Mukasey defends Bankman-Fried in fraud case. Customers skeptical of reimbursement timing.
Sam Bankman-Fried urges lenient sentence, citing FTX fund recovery
Bankman-Fried pleaded not guilty and is expected to appeal his conviction and sentence. He acknowledged making mistakes running FTX, but testified at trial that he never intended to steal customer funds.
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Sam Bankman-Fried will not face a second trial: US prosecutors
In a letter filed on Friday night in federal court in Manhattan, prosecutors said the "strong public interest" in a prompt resolution of their case against the 31-year-old former billionaire outweighed the benefits of a second trial.
Sam Bankman-Fried will not face a second trial
In a letter filed on Friday night in federal court in Manhattan, prosecutors said the "strong public interest" in a prompt resolution of their case against the 31-year-old former billionaire, Sam Bankman-Fried, outweighed the benefits of a second trial.
What charges was Sam Bankman-Fried convicted of?
Prosecutors say Bankman-Fried embezzled customer money to plug losses at Alameda Research, a crypto hedge fund he owned, as well as to make investments, buy real estate in the Bahamas, and donate to US political campaigns.
Silicon Valley shrugs off Sam Bankman-Fried's trial
The apathy may have had many reasons, including that FTX's downfall has been well covered by two books, a documentary and multiple podcasts in the year since it happened. But a simpler answer could be that the tech industry has again done what it does best: move on to the next thing.
Sam Bankman-Fried's wild rise and abrupt crash
After a speedy trial in Manhattan federal court, the onetime crypto king, now 31, was convicted on Thursday of seven counts of fraud and conspiracy involving his companies FTX and Alameda Research.
Sam Bankman-Fried grilled by prosecutor about interviews following FTX's collapse
The questioning by prosecutor Danielle Sassoon, on the second day of Bankman-Fried's testimony in his own defense at his fraud trial, was part of an effort to undercut the 31-year-old former billionaire's credibility after he told jurors last week he did not steal customers' money.
Sam Bankman-Fried testifies he believed FTX was 'fine' until just before collapse
Testifying in his defense at his fraud trial for a second day, the 31-year-old former billionaire recounted the dramatic days leading up to FTX's collapse, and sought to dispute prosecutors' argument he misled the public about the exchange's health to try to slow a tsunami of customer withdrawals.
Sam Bankman-Fried to retake witness stand, face cross-examination in fraud trial
Bankman-Fried first is due to answer around two more hours worth of friendlier questions from his defense lawyer, Mark Cohen, who is expected to ask the 31-year-old former billionaire about his version of the dramatic events of November 2022, when FTX collapsed amid a wave of customer withdrawals.
Sam Bankman-Fried acknowledges 'mistakes' but testifies he did not defraud anyone
Shortly after taking the witness stand in Manhattan federal court, Bankman-Fried said he made "a number of small mistakes and a number of larger mistakes" while running the now-bankrupt exchange.
Sam Bankman-Fried trial: jury to hear FTX founder's testimony
Bankman-Fried started testifying on Wednesday at an unusual hearing outside the jury's presence. US district judge Lewis Kaplan asked him to preview his testimony about the involvement of lawyers in key decisions at the heart of the case so he could decide whether it was admissible as evidence.
FTX founder Sam Bankman-Fried testifies outside jury's presence
Bankman-Fried's risky decision to testify gives prosecutors the chance to cross-examine the 31-year-old former billionaire about those claims that he told colleagues to commit crimes.
FTX founder Sam Bankman-Fried kicks off fraud trial defense case
Bankman-Fried was expected to testify in his own defense after his lawyers called two other witnesses, his lawyer Christian Everdell said in court outside the jury's presence.
Sam Bankman-Fried sees upside in testifying at criminal trial, experts say
Bankman-Fried plans to take the stand in his own defense, his lawyer Mark Cohen said at a court hearing on Wednesday.
Sam Bankman-Fried will testify at criminal trial, lawyer says
Bankman-Fried has pleaded not guilty to charges he looted billions of dollars in FTX customer funds to plug losses at his Alameda Research hedge fund, make speculative venture investments, and donate more than $100 million to US political candidates and campaigns.
Crypto influencers and 'degenerates' flock to Sam Bankman-Fried's trial
Bankman-Fried's trial -- on fraud charges stemming from the collapse of his FTX crypto exchange -- has brought two disparate worlds into a strange collision, unleashing a hyper-online horde of crypto obsessives (or "degenerates," as some of them call themselves) into the staid and formal environs of federal court.
Sam Bankman-Fried's trial reveals inside details of how FTX died
While the broad contours of FTX's failure are publicly known, the trial has opened a window into high-stakes conversations that unfolded in secret at Bankman-Fried's headquarters in the Bahamas. Witness accounts of those behind-the-scenes discussions have elicited some of the trial's most emotional moments.
Sam Bankman-Fried's lawyer says FTX investments were not 'reckless'
FTX founder Sam Bankman-Fried's lawyer on Tuesday said the now-bankrupt cryptocurrency exchange's investments were not "reckless and frivolous," pushing back against testimony by a former executive who called its spending on marketing and celebrity endorsements excessive.
How Sam Bankman-Fried continued to make political donations despite $13 bilion 'hole' in FTX
Prosecutors also showed a spreadsheet from March 2023 detailing $1.1 billion in FTX endorsement deals, which included the naming rights to the Miami Heat's basketball arena, as well as arrangements with NFL quarterback Tom Brady, model Gisele Bundchen, basketball star Steph Curry and comedian Larry David.
Sam Bankman-Fried trial: confidant Caroline Ellison faces cross-examination
Ellison said through tears that she lived in "dread" the truth would come out, and that FTX's ultimate collapse last year brought an "overwhelming feeling of relief."
Sam Bankman-Fried demanded special privileges for Alameda Research: ex-colleague Gary Wang
According to Wang, the special privileges granted to Bankman-Fried's hedge fund Alameda Research included a $65-billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow.
Sam Bankman-Fried case: jury selection begins in trial of fallen cryptocurrency mogul
Nearly 50 prospective jurors were sent home and told to return Wednesday, when it was expected that a jury of 12 individuals and six alternates would be in place by late morning so opening statements could begin.
Sam Bankman-Fried never received plea offer, prosecutor says as trial kicks off
Federal prosecutors say the 31-year-old former billionaire embezzled from FTX customers since its founding in 2019 through its November 2022 bankruptcy in order to prop up his hedge fund Alameda Research, buy luxury properties and donate more than $100 million to US political candidates.
Sam Bankman-Fried trial poses biggest test to date for crypto's top cop
The upcoming trial of Sam Bankman-Fried on fraud charges will be a major test for Manhattan's top federal prosecutor, Damian Williams, who has prioritized rooting out corruption in financial markets since taking office in 2021. Williams has brought several indictments against executives in the cryptocurrency space and high-profile fraud charges against individuals such as Charlie Javice, Bill Hwang, and Joe Lewis.
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