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Sam Bankman-Fried charged with bribing Chinese officials with $40 million in crypto

Sam Bankman-Fried, the former founder of collapsed cryptocurrency exchange FTX, has now been charged with bribing Chinese officials to the tune of $40 million.The US Department of Justice has alleged that Bankman-Fried "authorised and directed a bribe of at least $40 million to one or more Chinese government officials".According to The Verge, the bribe by Bankman-Fried was an attempt to get Chinese officials to "unfreeze" some of the accounts associated with FTX's sister firm, Alameda, which contained over $1 billion in…

FTX’s Sam Bankman-Fried Charged for Allegedly Bribing Chinese Officials

U.S. federal prosecutors have added yet another charge to the long list that fallen cryptocurrency founder, Sam Bankman-Fried, is facing. The former CEO of crypto exchange FTX is being indicted over allegations that he bribed Chinese government officials to the tune of more than $40 million dollars as part of his shady financial dealings. The news was first reported by Reuters, and comes from a legal document filed and unsealed Tuesday.The superseding indictment alleges that Bankman-Fried (or SBF as he’s commonly called)

FTX co-founder Sam Bankman-Fried accused of bribing Chinese officials

Former FTX CEO Sam Bankman-Fried (aka SBF) now faces a total of 13 criminal charges. , a newly unsealed indictment accuses the disgraced entrepreneur of conspiring to pay a $40 million bribe to Chinese government officials. Federal prosecutors allege Bankman-Fried ordered Alameda Research, FTX’s sister company, to transfer the funds to a private wallet, in hopes of convincing Chinese authorities to unfreeze Alameda accounts with more than $1 billion in crypto assets. It is to bribe foreign government officials in order…

Beverly Hills developer gets 4 years in prison for bribing L.A. County official

A Beverly Hills developer was sentenced Thursday to four years in prison for bribing a Los Angeles County official in what prosecutors described as one of the biggest corruption cases in L.A. history.Arman Gabaee, 61, admitted giving a county official dozens of cash payoffs during furtive meetings in cars, restaurants and men’s rooms while reaping lucrative real-estate leases in return.The developer also offered to buy the official, Thomas J. Shepos, a $1-million home in return for the county spending $45 million to lease…

Developer convicted of bribing ex-L.A. Councilman Jose Huizar

Jose Huizar developed a curious habit as a Los Angeles city councilman: He would give stacks of $100 bills to his wife, mother or brother. They in turn would write him checks or pay his bills.The three of them confirmed Huizar’s suspected money laundering in testimony before a federal jury over the last week. Salvador Huizar recalled asking his younger brother why he needed the checks, telling jurors the councilman told him that it was “better for me not to know.”The poignant spectacle of three family members testifying…