BankmanFried

Sam Bankman-Fried is expected on Tuesday to enter a plea of not guilty to criminal charges that he cheated investors and looted billions of dollars at his now-bankrupt FTX cryptocurrency exchange, according to a source familiar with the matter. Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions. He is scheduled to appear at 2 p.m. EST (1900 GMT) on Tuesday before US District Judge Lewis Kaplan…

Sam Bankman-Fried may face serious legal jeopardy and years in prison over the collapse of his FTX crytocurrency exchange, but for the time being, he’s enjoying some semblance of his privileged upbringing by living under house arrest in his parents’ spacious Palo Alto home. On the leafy one-acre property, which a pricey private security firm has turned into a “heavily guarded fortress,” the onetime billionaire wunderkind has reportedly met with famed “Big Short” and “Moneyball” author Michael Lewis about the possibility…

The cryptocurrency entrepreneur Sam Bankman-Fried was expected to make his initial US court appearance Thursday on charges that he swindled investors and looted customer deposits on his FTX trading platform. Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition. While he was in the air, the US attorney in Manhattan announced that two of Bankman-Fried's closest business associates had also been charged and had secretly pleaded guilty.…

Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Federal prosecutors in Manhattan have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Bankman-Fried was not asked to enter a plea on Thursday. He has previously acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability. His defense lawyer, Mark…

Ellison gave her first public account of her actions in a Dec. 19 plea hearing in Manhattan federal court. “I knew that it was wrong,” she said, according to a transcript of the hearing. Former Alameda Research CEO Caroline Ellison said she and FTX co-founder Sam Bankman-Fried knowingly misled lenders about how much the trading firm was borrowing from the cryptocurrency exchange. Ellison gave her first public account of her actions in a Dec. 19 plea hearing in Manhattan federal court. “I knew that it was wrong,” she…

Sam Bankman-Fried and other FTX executives received billions of dollars in secret loans from the crypto mogul's trading firm Alameda Research, the hedge fund's former chief told a judge when she pleaded guilty to her role in the exchange's collapse. Caroline Ellison, former chief executive of Alameda Research, said she agreed with Bankman-Fried to hide from FTX's investors, lenders and customers that the hedge fund could borrow unlimited sums from the exchange, according a transcript of her Dec. 19 plea hearing that was…

Bankman-Fried was escorted out of Bahamas Magistrate court Monday during a helter-skelter court proceeding over whether he would contest extradition. SBF’s return to the U.S. could come as soon as Wednesday, according to multiple reports.Photo: Rebecca Blackwell (AP)Santa-Fried should soon be bringing crypto winter cheer to the U.S. His sleigh will be a federal jet flying from the Bahamas to New York. The only workshop door he’ll be ducking his large mop of hair through is a New York court where there’s a question of…

When the Bahamas Attorney General's office announced that it had arrested former FTX CEO Sam Bankman-Fried, it noted that the former FTX CEO was likely to be extradited at the request of the United States. Just over a week later, that prediction has come true: Bankman-Fried signed extradition papers on Tuesday afternoon. According to an unsealed indictment, Bankman-Fried is facing 8 counts of conspiracy to commit wire fraud, commodities fraud, securities fraud, and more. Specifically, the SEC accuses the cryptocurrency…

Sam Bankman-Fried’s eventual return to New York might not be the homecoming he wants, as he’ll likely be quickly detained and arraigned before a tense bail hearing.Photo: Michael M. Santiago (Getty Images)After a strange, strange day of hemming and hawing, FTX founder Sam Bankman-Fried finally agreed to not contest extradition to the U.S., finally giving in to demands he face federal fraud charges.It follows a haphazard few days where the failed crypto moghul first planned to contest extradition from The Bahamas before…

Two weeks ago, while speculating on why disgraced FTX founder Sam Bankman-Fried was still a free man, we noted that his best strategy to avoid criminal charges would be to portray his crypto exchange’s spectacular collapse as a feat of embarrassing incompetence rather than unmitigated greed.His bizarre media blitz in early December was certainly an attempt to cement this narrative in the public consciousness.But as of this week, SBF is no longer a free man, having been arrested in the Bahamas on Monday. What’s more, it…