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The sentencing recommendation for the hacker who breached the SEC has been outlined by the judge overseeing the case. The hacker, responsible for illegally accessing nonpublic information from the U.S. Securities and Exchange Commission (SEC), could face a substantial penalty. The judge is recommending a severe sentence due to the nature of the crime and [...]
According to two sources close to FTX, Sam Bankman-Fried, the disgraced co-founder, gave his father, Stanford Law professor Joseph Bankman, millions of dollars. The funds are reportedly being used to pay for legal costs. The sources said that Bankman-Fried allegedly gave “at least $10 million” from the now-defunct quantitative trading firm Alameda Research to his [...]
The post FTX’s Bankman-Fried Is Allegedly Using Alameda Funds to Pay for Legal Defense appeared first on Crypto Breaking News.
On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According to a spokesperson for France’s Financial Prosecutor’s Office (PNF), the preliminary investigation into four French banks and one international [...]
The post French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud appeared first on Crypto Breaking News.
U.S. prosecutors have asked a federal judge to put crypto exchange FTX founder Sam Bankman-Fried in jail over alleged witness tampering before his trial starts in October. While requiring the prosecution to formalize the request and giving the defense enough time to make its case, the judge issued a temporary gag order restricting their public [...]
The post Prosecutors Want Sam Bankman-Fried Jailed Ahead of Trial appeared first on Crypto Breaking News.
Around 50 Chinese nationals have reportedly been apprehended by Libyan authorities following allegations of running a cryptocurrency mining facility within the city of Zliten, local reports detail. Cryptocurrency mining is strictly prohibited by law in Libya. Libyan law enforcement officials have disclosed that the mining operation, situated in an abandoned iron factory, was effectively dismantled.
The post Report: Dozens of Chinese Nationals Arrested in Libya for Operating Illegal Crypto Mining Farm appeared first on BTC Ethereum Crypto Currency Blog.
According to the Montenegro-based newspaper Vijesti, Do Kwon, the co-founder of Terraform Labs, also known as Kwon Do-hyung, is appealing the detention extension ordered by a Montenegrin court. Kwon was arrested on March 23, 2023, after being caught at Podgorica Airport in Montenegro while traveling with fraudulent identification documents. Report Says Kwon’s Legal Representation Aims [...]
The post Report: Terra Co-Founder Do Kwon Plans to Appeal Detention Extension After Arrest in Montenegro appeared first on Crypto Breaking News.
A lawyer representing Onecoin victims has urged Bulgarian authorities to reopen an investigation into the crypto pyramid scheme and seize assets to compensate his clients. The attorney is asking officials in Sofia to take into account developments he considers related to the case, including the recent murder of a Bulgarian crime figure in South Africa. [...]
The post Lawyer Seeks Reopening of Onecoin Case in Bulgaria, Seizure of Assets appeared first on Crypto Breaking News.
The judge said that imprisonment wasn’t necessary because Jatinder Singh couldn’t flee Australia without his Indian passport.
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and [...]
The post Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders appeared first on Crypto Breaking News.
South Korean authorities have previously requested cooperation from the Serbian government to bring Kwon back.
The investigation has been sending subpoenas to firms, requesting records of their dealings with Binance in the past months.
The post US Investigators Summons Hedge Funds Involved in Alleged Binance Money-Laundering Breach appeared first on BitPinas.
Various creators and promotors of two allegedly fraudulent crypto companies are facing a litany of charges that could land them 20 years in jail.
As part of a broader inquiry into FTX's collapse, federal prosecutors are looking at the role that FTX and Alameda may have played in the fall of Terra LUNA.
South Korean prosecutors believe Do Kwon is currently residing in Europe (Read More)
In what would be the most severe jail sentence of all time, a Turkish prosecutor wants to imprison 21 executives of the now-defunct crypto exchange Thodex for up to 40,564 years, Bloomberg reported on March 31, citing reports from local media. In April 2021, one of the then-popular crypto exchanges Thodex said its platform is […]
Members of the team of the now defunct Turkish crypto exchange Thodex may receive thousands of years in prison, if the court backs the prosecutor’s plea in the case. The trading platform’s CEO has been missing for the past year since Thodex suspended activities in a suspected exit scam. Turkey Seeks up to 40,000 Years […]
Manhattan prosecutor Danielle Sassoon steps down from position After serving as a prosecutor in Manhattan for several years, Danielle Sassoon has officially resigned from her role. This news comes as a surprise to many in the legal community, as Sassoon was known for her strong advocacy and dedication to upholding justice. During her tenure, Sassoon [...]
The post Report: NYC Prosecutor Resigns In High-Profile Sam Bankman-Fried Case appeared first on Crypto Breaking News.
The U.S. Department of Justice (DOJ) and federal prosecutors in New York have opted to temporarily suspend five charges against the beleaguered FTX co-founder Sam Bankman-Fried (SBF). Nevertheless, these five charges have been “severed” and deferred until 2024, potentially leaving SBF’s legal team to juggle two cases in the future. 5 Counts Against SBF Severed [...]
The post 5 Charges Temporarily Suspended in FTX Co-Founder Sam Bankman-Fried’s Legal Battle appeared first on Crypto Breaking News.
South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent $7 billion to a top South Korean law firm, Kim & Chang, right before the collapse of the Terra ecosystem. The prosecutors believe that Kwon's decision to send the funds was a deliberate move that allegedly reaffirmed his awareness of the impending collapse and anticipated legal problems. The information is expected to help in the ongoing fraud case against Kwon and his associates. (Read More)
Prosecutors investigating failed blockchain firm Terraform Labs have found out that its Singapore office sent millions of U.S. dollars to lawyers just before the crash of its cryptocurrencies. According to Korean media, the transfers suggest that co-founder Do Kwon was aware of the imminent collapse. Terraform Labs Transferred Large Amounts of Money to South Korean [...]
The post Do Kwon’s Terraform Sent $7 Million to Law Firm Before Collapse, Report Unveils appeared first on Crypto Breaking News.
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