[ad_1] In the newest charge, prosecutors alleged on Tuesday that the former billionaire bribed Chinese officials after his trading firm, Alameda Research, was locked out of trading accounts on two of China’s crypto exchanges. After the officials received an initial $40 million payment and unlocked the accounts, Bankman-Fried directed hisContinue Reading
[ad_1] With the new charge alleging conspiracy to violate the Foreign Corrupt Practices Act, Bankman-Fried now faces 13 criminal counts that include securities fraud, conspiracy to commit bank fraud and conspiracy to operate an unlicensed money transmitter. His criminal trial is scheduled to begin in October. Bankman-Fried’s spokesperson declined comment.Continue Reading
[ad_1] SEC Chair Gary Gensler (above) is being asked by two congressmen about the timing of the arrest of FTX CEO Sam Bankman-Fried. | Kevin Dietsch/Getty Images Top House Republicans on Friday demanded answers from SEC Chair Gary Gensler about why former FTX CEO Sam Bankman-Fried was arrested on theContinue Reading
[ad_1] Tech entrepreneurs are far from the only ones to insist that they — and they alone — know the future. Financial fraudsters dating back to Charles Ponzi have explained away any oddities in their business with a winning smile and a promise that they’re just better at their jobContinue Reading