corporate crime
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The 6 Reasons Prosecutors Want Sam Bankman-Fried to Spend 40-50 Years in Prison
Prosecutors in New York asked a court on Friday to sentence crypto fraudster Sam Bankman-Fried to between 40 and 50 years in prison for defrauding crypto investors and extracting billions of dollars from his companies FTX and Alameda Research. FTX imploded in 2022, turning a high-flying company once valued at $US32 billion into a worthless…
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Wait, Is Bitcoin Going to Die?
The price of Bitcoin crashed nearly 10% on Wednesday, falling from $US45,000 to below $US41,000 in mere hours, hurting crypto’s best bull run in a year. But what, or who, could have been the culprit behind the crash? The day before, CNBC’s host of Mad Money, Jim Cramer, directed his powerful investing advice towards Bitcoin.…
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Binance CEO Pleads Guilty to Money Laundering Violations, Will Step Down
Binance founder Changpeng Zhao (CZ) will step down from his CEO duties and plead guilty to criminal charges, paying a $US50 million fine, according to court documents made public Tuesday. The Department of Justice is expected to announce a $US4 billion settlement with Binance this afternoon, putting an end to a fierce legal battle between…
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Sam Bankman-Fried Found Guilty in Crypto Trial
Sam Bankman-Fried is guilty on all seven federal charges in his criminal trial for defrauding customers of his crypto exchange out of billions of dollars with his crypto empire, jurors decided on Thursday night in a Southern District of New York court, according to CoinDesk. Jurors reached a verdict at 7:40 PM that the founder…