The criminal case against FTX founder Sam Bankman-Fried reached its climax last week. The civil cases involving his former company, however, are ongoing. Bankman-Fried’s conviction in what has been called one of the largest frauds in U.S. history could add momentum to a class-action lawsuit...
The Federal Trade Commission (FTC) and “chargeback mitigation” company Chargebacks911 have reached a settlement to prevent the company from engaging in deceptive practices. The settlement also prohibits the company and its owners from working with certain high-risk clients to stop consumers trying to dispute credit card charges through the...
That’s all she wrote. Sam Bankman-Fried on Thursday evening (Nov. 2) was found guilty on all counts. And it wasn’t twelve angry men that did him in — rather, it was over a million angry creditors missing their billions in funds and a jury of...
The Federal Trade Commission (FTC) reportedly unveiled details of a lawsuit against Amazon Thursday (Nov. 2), accusing the eCommerce giant of employing strategies to enhance its profits. The FTC alleges that Amazon used a secret algorithm, internally known as “Project Nessie,” to raise prices for specific products, resulting...
Genesis has altered its bankruptcy plans, and that doesn’t sit well with the federal government. The crypto lender said in a filing last week that it wants to liquidate its assets instead of reorganizing. And that could delay the bankruptcy process, U.S Trustee William Harrington said...
House of cards, web of lies, and now “pyramid of deceit.” Those are all terms used to describe Sam Bankman-Fried’s multibillion-dollar FTX crypto empire, the latest descriptor coming Wednesday (Nov. 1) during the federal prosecution’s closing arguments in Bankman-Fried’s fraud trial. The 31-year-old disgraced crypto...
Prosecutors and defense attorneys presented contrasting narratives of Sam Bankman-Fried’s alleged involvement in fraud and money-laundering offenses Wednesday (Nov. 1). They did so while presenting their closing arguments in the trial in which Bankman-Fried, the founder of the now-bankrupt cryptocurrency exchange FTX, faces seven criminal...
Apple Inc. has been dealt a blow in a class action lawsuit in London, as the Competition Appeal Tribunal ruled Wednesday (Nov. 1) that the case can proceed. The lawsuit accuses Apple of misleading customers about a power management tool in iPhones, Bloomberg reported Wednesday. The suit claims that Apple...
Sam Bankman-Fried has gone from the smartest one in the room to the most forgetful. This, as the 31-year-old cryptocurrency entrepreneur accused of orchestrating one of the largest financial frauds in American history took the witness stand for the fourth time, and the third juried time,...
