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FTX investors to get their money back – plus interest | Business News
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People who lost their money in FTX, once one of the biggest cryptocurrency exchanges in the world, are to be paid back, with interest. Billions were lost when the cryptocurrency exchange headed by convicted fraudster Sam Bankman Fried went bust in November 2022, with an estimated one million customers losing funds. Money latest: Struggling iconic…
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Sam Bankman-Fried: Disgraced ‘crypto king’ jailed for 25 years after stealing billions of dollars from FTX customers | Business News
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Disgraced crypto entrepreneur Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted of stealing billions of dollars from his customers. He was the chief executive of FTX, which suddenly went bankrupt in November 2022 – leaving millions of users frozen out of their accounts and unable to make withdrawals. The 32-year-old…
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Sam Bankman-Fried guilty of defrauding FTX crypto customers out of billions of dollars | US News
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Sam Bankman-Fried has been found guilty of defrauding customers of his cryptocurrency exchange out of billions of dollars. The 31-year-old could be sentenced to more than 100 years in prison after stealing money from clients of FTX. A Manhattan jury convicted him on all seven counts after a month-long trial. FTX collapsed last November, shocking…
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Sam Bankman-Fried: FTX boss testifies in fraud trial – after jury sent home | Business News
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Former crypto tycoon Sam Bankman-Fried has taken the stand in his fraud trial – after the jury in the case was sent home for the day. US District Judge Lewis Kaplan said he wanted to hear the 31-year-old’s evidence first, without jurors, on Thursday before deciding which portions would be admissible. The surprise move was…
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Sam Bankman-Fried trial: FTX boss stole over $10bn from customers in ’empire built on lies’, jury told | US News
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The trial of embattled crypto executive Sam Bankman-Fried has begun – with prosecutors claiming he stole more than $10bn (£8.2bn) from unsuspecting customers. Almost a year after FTX spectacularly collapsed, leaving millions of people out of pocket, a court heard that the 31-year-old’s multibillion-dollar empire was “built on lies”. Bankman-Fried has been accused of using…
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Sam Bankman-Fried: Disgraced FTX boss ‘donated stolen customer funds to politicians’ | Science & Tech News
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Disgraced crypto entrepreneur Sam Bankman-Fried used stolen customer money to make political donations, prosecutors have alleged. The 31-year-old, whose £21bn FTX empire collapsed last year, is accused of making north of $100bn (£79bn) in campaign contributions during the 2022 US midterms. He is said to have directed two of his company’s executives to send cash…
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Sam Bankman-Fried: FTX founder and ‘crypto king’ has bail revoked for alleged witness tampering | US News
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Disgraced FTX founder Sam Bankman-Fried has had his $250m (£197m) bail revoked and has been sent to jail after alleged witness tampering. US District Judge Lewis Kaplan made the decision after prosecutors said Bankman-Fried had tried to harass a key witness in his fraud case last month. The 31-year-old was charged with defrauding investors in…
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British investor who lost £1m in FTX collapse among 13 people to make fraud reports to police | UK News
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A British investor said to have lost £1m in the collapse of cryptocurrency trading platform FTX is among 13 people to have made fraud reports to UK police. FTX filed for bankruptcy on 11 November after it was alleged the then chief executive Sam Bankman-Fried, 30, had illegally diverted massive sums of customer money from…
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Disgraced FTX founder Sam Bankman-Fried pleads not guilty to fraud | Science & Tech News
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Disgraced FTX founder Sam Bankman-Fried has pleaded not guilty to stealing billions of dollars of customer money in his first court appearance since he was released on a record $250m pretrial bail. Bankman-Fried, 30, entered his plea before US district judge Lewis Kaplan at a court in Manhattan, after spending the Christmas period under house…
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FTX collapse shows crypto is ‘too dangerous’ not to regulate, Bank of England deputy governor says | Business News
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Cryptocurrency trading is “too dangerous” to remain outside mainstream financial regulation and could pose “a systemic problem” without action, the deputy governor of the Bank of England has warned. Speaking for the first time since the founder of the crypto trading platform FTX was arrested and charged with massive fraud, Sir Jon Cunliffe told Sky…