Attorneys for convicted cryptocurrency fraudster Sam Bankman-Fried say their client is “selfless,” “altruistic” and “misunderstood.” In a final bid for leniency, lawyers for the FTX founder are calling for a sentence of five a-and-a-half to six-and-a-half years, the Financial Times (FT) reported Wednesday (Feb. 28), citing court documents. Bankman-Fried, convicted...
The lead counsel for The New York Times said Tuesday (Feb. 27) that OpenAI’s claims that the publisher “hacked” its artificial intelligence (AI) systems to produce misleading results “bizarrely mischaracterizes” the situation. In an email to PYMNTS responding to a Reuters report, Ian Crosby, partner...
JPMorgan Chase is facing a lawsuit over fees for deposited checks that bounce. In a lawsuit filed Wednesday (Feb. 21) against JPMorgan Chase, five customers accused the bank of unfairly charging fees for depositing checks that later bounced, Reuters reported Wednesday. The customers claimed that Chase charged...
Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, is set to appear in court Wednesday (Feb. 21) for a hearing on his new lawyer’s possible conflict of interest. Bankman-Fried, who was convicted of fraud in November after accusations of stealing billions of dollars from...
A new lawsuit accuses an FTX-affiliated law firm of helping abet the cryptocurrency exchange’s fraud. The suit, filed last week by a group of FTX investors, accuses the 140-year-old firm of Sullivan & Cromwell of actively taking part in the multibillion-dollar fraud that led to FTX’s collapse. Due to...
Viva Wallet’s founder is accusing J.P. Morgan — his company’s co-owner — of impeding the Greek FinTech’s growth. Haris Karonis, also the CEO of the payments company, has sued the banking giant for allegedly trying to push down its valuation, the Financial Times (FT) reported...
The Federal Trade Commission (FTC) has secured a judgment requiring former merchant cash advance operator Jonathan Braun to pay $20.3 million in monetary relief and civil penalties. This marks the first trial by jury conducted by the FTC, the agency said in a Wednesday (Feb. 14) press release....
The Internal Revenue Service (IRS) is suing the Federal Deposit Insurance Corp. (FDIC) over a tax debt owed by the failed Silicon Valley Bank. The FDIC seized the bank and its assets in March following its collapse. Now, the IRS is asking a judge to determine how much the...
New York Community Bank (NYCB) is the target of a class-action lawsuit alleging securities fraud. The lawsuit comes after the bank acquired certain assets of Signature Bridge Bank on March 20, 2023, and reported a fourth quarter net loss of $252 million on Jan. 31,...
