Founder of FTX Cryptocurrency Platform Transferred Closer to Family
#FTX #SamBankmanFriedSam Bankman-Fried, the FTX founder, has been moved from a NYC prison to a facility in Oklahoma after serving a year-and-a-half of his 25-year sentence. His lawyers had requested the transfer to be closer to his parents in California. read more
FTX Executive Spared Prison in Financial Fraud Scheme Conviction
#CryptoFraud #FTXNishad Singh, ex-deputy to FTX's Sam Bankman-Fried, avoids prison for his involvement in a massive crypto fraud scheme. Singh pleaded guilty to multiple felony charges, cooperated with prosecutors, and expressed remorse during his sentencing in a New York court. read more
Former Alameda Research Co-CEO Sentenced to Two Years in Prison
#FTX #FraudscandalCaroline Ellison, previously the co-CEO of Alameda Research and convicted fraudster Sam Bankman-Fried's ex, was sentenced to two years for her role in FTX fraud, with prosecutors praising her cooperation in indicting Bankman-Fried to understand the complex financial crime. read more
FTX Faces $12.7 Billion Payout After Massive Fraud Scandal
#FTX #cryptocurrencyfraudFTX has been ordered to pay $12.7 billion in a fraud case, with founder Sam Bankman-Fried sentenced to 25 years in prison for stealing $8 billion from customers. The settlement resolves the litigation and requires restitution and disgorgement. read more
#FTX #Bankruptcy
FTX, a bankrupt crypto exchange, plans to fully repay creditors $11bn with assets exceeding $16bn, benefiting from increased Bitcoin prices. Former CEO, Bankman-Fried, jailed for fraudulent collapse, failed to sway judge with repayment argument. Approval needed for fund distribution. read more