Sam Bankman-Fried , Sentenced to 25 Years , for FTX Fraud.
On March 28, Sam Bankman-Fried was sentenced to
25 years in prison after being found guilty of defrauding
users of FTX, the now-collapsed cryptocurrency exchange.
.
NBC reports that Lower Manhattan federal district
Judge Lewis Kaplan found the defense's arguments
misleading, speculative and logically flawed.
The judge accused Bankman-Fried of committing
obstruction of justice and tampering with
witnesses while mounting his defense.
Kaplan reportedly said that those
factors played a role in his decision
about how to sentence Bankman-Fried.
Prosecutors had originally sought a longer sentence
of 50 years, while the defense fought for
Bankman-Fried to get no more than six and a half years.
Prosecutors had originally sought a longer sentence
of 50 years, while the defense fought for
Bankman-Fried to get no more than six and a half years.
In November, Bankman-Fried was convicted on seven
criminal counts.
He has been held at Brooklyn's
Metropolitan Detention Center while awaiting sentencing.
In November, Bankman-Fried was convicted on seven
criminal counts.
He has been held at Brooklyn's
Metropolitan Detention Center while awaiting sentencing.
At one time, FTX was valued at over $30 billion
but ultimately collapsed in November of
2022 after announcing a major cash shortfall.
At one time, FTX was valued at over $30 billion
but ultimately collapsed in November of
2022 after announcing a major cash shortfall.
While on trial, Bankman-Fried was accused
of robbing FTX customers of nearly $8 billion,
which was partially used to fund the extravagant
lifestyles of the exchange's executives.
While on trial, Bankman-Fried was accused
of robbing FTX customers of nearly $8 billion,
which was partially used to fund the extravagant
lifestyles of the exchange's executives.
NBC reports that Bankman-Fried's sentence
is harsher than other white-collar crimes
in recent memory, such as Theranos founder
Elizabeth Holmes who received just 11 years.
NBC reports that Bankman-Fried's sentence
is harsher than other white-collar crimes
in recent memory, such as Theranos founder
Elizabeth Holmes who received just 11 years.
The outlet also notes that the judgement is more
similar to the 25-year sentence given to former
WorldCom CEO Bernie Ebbers or the 24-year
sentence given to Enron CEO Jeff Skilling.
The outlet also notes that the judgement is more
similar to the 25-year sentence given to former
WorldCom CEO Bernie Ebbers or the 24-year
sentence given to Enron CEO Jeff Skilling
Sam Bankman-Fried , Speaks Out After Sentencing.
The former FTX CEO was sentenced
to 25 years in prison on March 28.
He was previously convicted of fraud, conspiracy and money laundering.
In an exclusive interview with ABC News,
the 32-year-old exhibited remorse for his actions, saying, "It's most of what I think about each day.".
Bankman-Fried attributed FTX's downfall to many "bad decisions" made in 2022, ABC News reports. .
I never thought that what I was
doing was illegal. But I tried to hold
myself to a high standard, and I
certainly didn't meet that standard. , Sam Bankman-Fried, to ABC News.
I've heard and seen the despair,
frustration and sense of betrayal from
thousands of customers; they deserve
to be paid in full, at current price, Sam Bankman-Fried, to ABC News.
That could and should have
happened in November 2022,
and it could and should happen
today. It's excruciating to see
them waiting, day after day, Sam Bankman-Fried, to ABC News.
Bankman-Fried went on to say that he's "haunted, every day, by what was lost.".
I'd give anything to be able to help
repair even part of the damage.
I'm doing what I can from prison,
but it's deeply frustrating not
to be able to do more, Sam Bankman-Fried, to ABC News.
Bankman-Fried plans to
appeal based on trial testimony that
"greatly misstated what actually happened.".
I'd give anything to be out there, trying
to make a positive difference in the
world, but I know that's not going to
happen. I can't help from prison, Sam Bankman-Fried, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
Judge Denies Trump’s Request , to Delay Payment to E. Jean Carroll.
On Jan. 26, Judge Lewis A. Kaplan
ordered Donald Trump to pay writer E. Jean Carroll $83.3 million for ruining her credibility by calling
her a liar after she accused him of sexual assault.
On Jan. 26, Judge Lewis A. Kaplan
ordered Donald Trump to pay writer E. Jean Carroll $83.3 million for ruining her credibility by calling
her a liar after she accused him of sexual assault.
The judgement, which included a $65 million
punitive award, was challenged by Trump's lawyers who claim there is a "strong probability" that
the amount will be decreased or eliminated.
On March 7, Kaplan said that he won't postpone deadlines for posting a bond that
would guarantee payment to Carroll if the
judgement stands after appeals, NPR reports. .
On March 7, Kaplan said that he won't postpone deadlines for posting a bond that
would guarantee payment to Carroll if the
judgement stands after appeals, NPR reports. .
The judge went on to say that any financial harm Trump incurs is a result of his slow response to the verdict made in January.
Trump's lawyers didn't seek to
delay the date in which the bond must
be posted until 25 day later, Kaplan said. .
Mr. Trump's current situation is a
result of his own dilatory actions, Judge Lewis A. Kaplan, via written order.
Nor has Mr. Trump made any showing
of what expenses he might incur if
required to post a bond or other
security, on what terms (if any) he
could obtain a conventional bond, , Judge Lewis A. Kaplan, via written order.
... or post cash or other assets to
secure payment of the judgment,
or any other circumstances
relevant to the situation, Judge Lewis A. Kaplan, via written order.
The judgement will be final on March 11. .
Meanwhile, Trump has also been ordered
by Judge Arthur Engoron to pay
$355 million in penalties for civil fraud
Credit: Wibbitz Top Stories Duration: 01:30Published
Walmart Reverses Course, , Closes Down Its , Walmart Health Division.
NBC reports that Walmart has announced
it will close all 52 of the doctor-staffed
health clinics the company operates.
The announcement comes as
part of the company's decision to
shut down its Walmart Health Initiative.
Clinics that will close down are located in
Arkansas, Florida, Georgia, Illinois and Texas. .
On April 30, the company also said it would
begin winding down its virtual care service.
The decision to end the Walmart Health Initiative
will not reportedly impact Walmart
pharmacies and vision centers.
Walmart said that it will work to direct current patients
to other providers covered by their insurance
networks to ensure they continue to receive care.
NBC reports that the news comes as a swift
reversal of Walmart's plan to expand its number
of doctor-staffed clinics to 70 by the end of 2024.
Through our experience managing
Walmart Health centers and
Walmart Health Virtual Care,
we determined there is
not a sustainable business
model for us to continue, Walmart statement, via NBC.
Other nontraditional health care
providers have also been forced to
reconsider their plans in recent years. .
Last month, Walgreens announced that it would
close 140 of the company's primary care clinics,
along with plans to shut down 20 more.
Credit: Wibbitz Top Stories Duration: 01:30Published
Law Enforcement Hiring , Increased in 2023 , Following Years of Decline.
NBC reports that police departments in the United States
have seen their first increase in ranks, changing course
on a historic exodus of officers in recent years.
According to a recent survey,
2023 saw more officers sworn in
than any of the previous four years. .
At the same time, the survey by the Police Executive
Research Forum (PERF) also found that fewer law
enforcement officers resigned or retired in 2023. .
Law enforcement numbers had been declining following
the COVID pandemic and nationwide protests against
police brutality following the death of George Floyd. .
Law enforcement numbers had been declining following
the COVID pandemic and nationwide protests against
police brutality following the death of George Floyd. .
I just think that the past four
years have been particularly
challenging for American policing.
And our survey shows we’re
finally starting to turn a corner, Chuck Wexler, Executive director of PERF, via NBC.
NBC reports that declining numbers left
many police departments with a shortage of
officers, which resulted in slower response times.
Chuck Wexler, executive director of PERF, warns that many police departments are still struggling to recruit and retain officers.
According to Wexler, law enforcement , "isn't out of the woods yet.".
At least a dozen smaller police departments in
the nation have been forced to disband, leaving those
municipalities reliant upon state or county police forces.
NBC reports that in addition to increased pay and
benefits, many police departments have chosen to
change application requirements to increase hiring
Credit: Wibbitz Top Stories Duration: 01:31Published
Elon Musk , Loses Appeal of , 'Twitter Sitter' Provision .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
On April 29, the Supreme Court denied billionaire
Elon Musk's challenge to the terms of a Securities
and Exchange Commission agreement. .
NBC reports that the SEC requirement
would require a lawyer to review
the Tesla CEO's social media posts. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
In his appeal, Musk argued that the SEC's requirement,
which has been dubbed the 'Twitter sitter' provision,
unlawfully imposed conditions on his freedom to comment. .
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC requirement stems from Musk's tweets in 2018 that
claimed he was taking Tesla private, which shocked the
market and caused shares in the company to surge.
The SEC deemed the tweets
"materially false and misleading,"
and in clear violation of securities laws.
At the time, Musk agreed to settle the issue
with the SEC, which included his signing off
on the so-called "Twitter sitter" provision.
NBC reports that Musk has since said
the restrictions are unconstitutional and that
he was coerced into signing the SEC agreement.
According to court papers, lawyers
representing Musk have accused the SEC
of waging an "ongoing campaign" against Musk.
Musk's legal team claim the provision , "restricts Mr. Musk’s speech even
when truthful and accurate.".
It extends to speech not
covered by the securities laws
and with no relation to the conduct
underlying the SEC’s civil action, Elon Musk legal team, via NBC.
In response, the SEC said in court papers
that Musk waived his right to appeal
when he signed off on the settlement.
Credit: Wibbitz Top Stories Duration: 01:31Published
'Law & Order: Organized Crime' is coming back! But it's moving from NBC to Peacock. Sources tell The Hollywood Reporter that Peacock is putting the finishing touches on a deal that would see the series starring Christopher Meloni move from NBC to the streaming service for a fifth season consisting of 10 episodes. Reps for Peacock, NBC, producers Universal Television and executive producer Dick Wolf declined to comment as a deal has yet to officially close.
Credit: The Hollywood Reporter Duration: 01:17Published
Sabrina Impacciatore of 'The White Lotus' and Domhnall Gleeson from 'Star Wars: The Rise of Skywalker' have been cast in the new take on the beloved NBC Steve Carell-led comedy 'The Office.'
Credit: The Hollywood Reporter Duration: 01:08Published
Carl Erskine, , 1950s Dodgers Pitcher, , Dead at 97.
NBC reports that the baseball legend
died at Community Hospital Anderson in Indiana.
He was one of the last surviving members of the
celebrated Brooklyn teams from the 1950s, having
spent his entire career playing for the Dodgers.
He was one of the last surviving members of the
celebrated Brooklyn teams from the 1950s, having
spent his entire career playing for the Dodgers.
Between 1948 and 1959,
Erskine and the Dodgers took home
five National League pennants.
Between 1948 and 1959,
Erskine and the Dodgers took home
five National League pennants.
The right-handed pitcher had a career record of 122-78 with 981 strikeouts and an ERA of 4.00.
Erskine's best season came in 1953
when he led the National League
with a record of 20-6.
In 1954, Erskine had another
All-Star season, winning 18 games.
Out of his five World Series appearances,
the Dodgers beat the Yankees
in 1955 to win their only championship.
Out of his five World Series appearances,
the Dodgers beat the Yankees
in 1955 to win their only championship.
With Erskine's passing, 88-year-old
Sandy Koufax becomes the lone surviving
Dodgers player from that 1955 World Series team.
With Erskine's passing, 88-year-old
Sandy Koufax becomes the lone surviving
Dodgers player from that 1955 World Series team.
In July of 2023, the Baseball Hall of Fame's
board of directors awarded Erskine with
the Buck O'Neil lifetime achievement award.
In July of 2023, the Baseball Hall of Fame's
board of directors awarded Erskine with
the Buck O'Neil lifetime achievement award.
For millions of fans, he was
a baseball hero. For his family
and thousands of Special Olympians,
Carl was someone who always
believed everything was possible. , Jane Forbes Clark, Baseball Hall of Fame chairman, via NBC.
His legacy is one
of deep compassion
and encouragement
of the human spirit, Jane Forbes Clark, Baseball Hall of Fame chairman, via NBC
Credit: Wibbitz Top Stories Duration: 01:31Published
This Day in History:, Jackie Robinson Breaks Color Barrier.
April 15, 1947.
The 28-year-old baseball player
became the first African American
to play for Major League Baseball.
The Georgia native stepped onto the grass
of Ebbots Field in Brooklyn as a Brooklyn Dodger.
Two years later,
the star infielder was named the
National League's MVP as well as a batting champ.
He led his team to six National League
pennants and the World Series in 1955.
Robinson was subjected
to the racism of both players and
baseball fans throughout his career.
Jim Crow laws forced him to dine
at different restaurants and stay at
different hotels than the rest of his team.
Robinson was inducted into
the Baseball Hall of Fame in 1962.
His number, 42, was the the first to be retired in 1997
Credit: Wibbitz Top Stories Duration: 00:58Published
Legendary NYC DJ , Mister Cee , Dead at 57.
Mister Cee was an influential figure in
the world of hip-hop who served as DJ for
rapper Big Daddy Kane and is credited for
his role in discovering The Notorious B.I.G. .
CNN reports that Mister Cee's former employer,
New York's Hot 97 hip-hop radio station,
released a statement regarding his death.
As a family at HOT 97 and WBLS,
we’re deeply saddened by the passing of our beloved Mister Cee. , Hot 97 statement, via CNN.
Mr. Cee’s influence stretched
far beyond the airwaves, shaping
the very fabric of NYC’s DJ culture, Hot 97 statement, via CNN.
Our hearts are heavy as we send
our love and condolences to his
family and the fans whose lives
he touched through his music.
Rest easy, Mr. Cee.
Your legacy will live forever, Hot 97 statement, via CNN.
No cause of death was released
at the time of the announcement.
Mister Cee was born, Calvin LeBrun , in Brooklyn, New York.
Mister Cee was born, Calvin LeBrun , in Brooklyn, New York.
After rising through the hip-hop scene of
New York City, Mister Cee worked on Big Daddy
Kane's debut 1988 album, 'Long Live the Kane.'.
After rising through the hip-hop scene of
New York City, Mister Cee worked on Big Daddy
Kane's debut 1988 album, 'Long Live the Kane.'.
Later, he would serve as an associate
producer on The Notorious B.I.G.'s
1994 debut album, 'Ready to Die.'.
Mister Cee went on to have
a long career as a popular DJ
and radio personality with Hot 97. .
Mister Cee went on to have
a long career as a popular DJ
and radio personality with Hot 97.
Credit: Wibbitz Top Stories Duration: 01:30Published
Watch as the NYPD clears the Brooklyn subway shooter of charges, citing 'evidence of self-defense.' Get the latest update on the shootout between a 32-year-old and a 36-year-old in the Brooklyn subway, reportedly triggered by a racial slur.
#NYCShootout #NewYorkCity #Brooklyn #BrooklynSubway #BrooklynSubwayShoot #SubwayShootNYC #RacialDiscrimination #Oneindia
~HT.99~PR.274~
Live from Rumble StudioSam Bankman-Fried, co-founder of the failed crypto exchange FTX, has been sentenced to 25 years in prison for defrauding customers and investors of his now-bankrupt firm.
Sam Bankman Fried Sentenced to 25 years in Prison for FTX Bitcoin Ukraine Money laundering Scam as cash flows over to Ukraine and then into Corrupt politicians charities and back into their bank..
![Sam Bankman-Fried Speaks Out After Sentencing [Video]](https://video.newsserve.net/300/v/20240401/1371536820-Sam-Bankman-Fried-Speaks-Out-After-Sentencing.jpg)
![Fallen crypto mogul Sam Bankman-Fried sentenced to 25 years in prison [Video]](https://video.newsserve.net/300/v/20240329/1371267008-Fallen-crypto-mogul-Sam-Bankman-Fried-sentenced-to.jpg)
![Judge Denies Trump’s Request to Delay Payment to E. Jean Carroll [Video]](https://video.newsserve.net/300/v/20240308/1368087196-Judge-Denies-Trump-Request-to-Delay-Payment.jpg)
![Walmart Reverses Course, Closes Down Its Walmart Health Division [Video]](https://video.newsserve.net/300/v/20240430/1374181960-Walmart-Reverses-Course-Closes-Down-Its-Walmart-Health.jpg)
![Law Enforcement Hiring Increased in 2023 Following Years of Decline [Video]](https://video.newsserve.net/300/v/20240429/1374090804-Law-Enforcement-Hiring-Increased-in-2023-Following-Years.jpg)
![Elon Musk Loses Appeal of 'Twitter Sitter' Provision [Video]](https://video.newsserve.net/300/v/20240429/1374080272-Elon-Musk-Loses-Appeal-of-Twitter-Sitter-Provision.jpg)
!['Law & Order: Organized Crime' Season 5 Moving to Peacock | THR News Video [Video]](https://video.newsserve.net/300/v/20240425/1373774890-Law-Order-Organized-Crime-Season-Moving.jpg)
!['The Office' Reboot Sets First Cast Members | THR News Video [Video]](https://video.newsserve.net/300/v/20240423/1373565622-The-Office-Reboot-Sets-First-Cast-Members.jpg)
![Carl Erskine, 1950s Dodgers Pitcher, Dead at 97 [Video]](https://video.newsserve.net/300/v/20240417/1372905816-Carl-Erskine-1950s-Dodgers-Pitcher-Dead-at-97.jpg)
![This Day in History: Jackie Robinson Breaks Color Barrier [Video]](https://video.newsserve.net/300/v/20240415/1372714964-This-Day-in-History-Jackie-Robinson-Breaks-Color.jpg)
![Legendary NYC DJ Mister Cee Dead at 57 [Video]](https://video.newsserve.net/300/v/20240411/1372436258-Legendary-NYC-DJ-Mister-Cee-Dead-at-57.jpg)
![New York Shooting: Police Clears Brooklyn Shooter with No Charges, Citing... | Oneindia News [Video]](https://video.newsserve.net/300/v/20240316/1368936444-New-York-Shooting-Police-Clears-Brooklyn-Shooter-with.jpg)
![Disgraced 'Crypto King' gets 25 years & Sean 'Diddy' Assault Allegations [Video]](https://video.newsserve.net/300/v/20240329/1711736549-Disgraced-apos-Crypto-King-apos-gets-25-years.jpg)
![Fallen 'Crypto King' Sam Bankman-Fried gets 25 years for fraud [Video]](https://video.newsserve.net/300/v/20240329/1711710703-Fallen-apos-Crypto-King-apos-Sam-Bankman-Fried.jpg)
![((( FTX ))) Sam Bankman Fried Sentenced to 25 years in Prison for Ukraine Money Laundering Scam [Video]](https://video.newsserve.net/300/v/20240329/1711679924-FTX-Sam-Bankman-Fried-Sentenced-to.jpg)
