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Sam Bankman-Fried’s lawyers are pushing for the jury to weigh English law in FTX’s terms of service, aiming to dismiss some fraud charges against the exchange founder. Legal representatives for Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, have submitted a new filing in an attempt to persuade the jury to consider the influence of English law on the company’s terms of service. The Oct. 30 filing, which includes a proposed jury instruction, states that according to the Government’s theory, a trust, fiduciary relationship, or similar bond must exist between FTX and its customers for misappropriation to have occurred. The suggested jury instruction informs the 12 jurors determining Bankman-Fried’s outcome that FTX’s customer relations are dictated by its Terms of Service, which are governed by English law. Additional filings offer UK case examples for reference. You might also like: SBF trial day 14: FTX’s Bankman-Fried blame...

Prosecutors called FTX general counsel Can Sun to the stand following financial forensics and evidence of internal communications potentially implicating Sam Bankman-Fried in criminal wrongdoing at his crypto exchange and trading firm, Alameda Research. Expert testimonies from a Notre Dame Alumni and an FBI analyst in United States v Sam Bankman-Fried provided more details as to what happened at FTX. Bank statements detailed transactions from Alameda to personal accounts and super PACs, almost certainly financed with FTX customer crypto. Bankman-Fried’s Twitter DMs entered as trial exhibits highlighted profanity-filled remarks aimed at regulators and rivals in the days after FTX declared bankruptcy.  FTX founder Sam Bankman-Fried with journalist Kelsey Piper | Source: Vox Billions poured from user balances on FTX into loan repayments and real estate buys in the Bahamas. At least one of these properties had the defendant’s parents Joseph Bankman and ...

The host of a weekly crypto radio show received a two-year prison sentence on Wednesday after deceptively applying for over $660,000 in Covid-19 relief funds and spending the money on building his own Alpaca farm and running a crypto show. Fifty-nine-year-old Dana McIntyre hosted The Dana Crypto Show and owned the Rasta Pasta Pizzeria in Beverley, Massachusetts. As detailed by the US Attorney’s Office, in March 2020 McIntyre applied for two different Covid-19 relief benefits under the names of his two children for two non-existent companies, one of which was called “Dana’s Dank Pies.” In an application, he claimed to have no work and no income despite still running and profiting from his pizzeria. He received $17,000 from the government in September 2020. McIntyre also successfully applied for a further Covid-19 relief fund of $660,000 in April 2020. For this form, McIntyre falsified the number of his employees, payroll amounts, and tax forms in order to receive the larger ...

United States prosecutors have labeled this as the first insider trading case in cryptocurrency. Ishan Wahi, a former product manager at Coinbase Global Inc., has admitted to two counts of conspiracy to commit wire Fraud in a case that U.S. prosecutors have labeled as the first insider trading case involving cryptocurrency. Ex-Coinbase manager pleads guilty in insider trading case https://t.co/i6fG3c3wHc pic.twitter.com/zKfjqnNpzT — Reuters (@Reuters) February 7, 2023 According to a report by Reuters, the prosecutors claimed that Wahi disclosed private information to his brother Nikhil and friend Sameer Ramani, regarding imminent announcements of new digital assets that Coinbase would enable users to trade. The announcement later caused assets to rise in value, allowing Nikhil and Sameer Raman to generate illicit gains of at least $1.5 million. Nikhil Wahi and Ramani were charged with using Ethereum (ETH) blockchain wallets to acquire digital assets and trading before the Coinba...