The US Department of Justice is seeking to seize $16 million in cryptocurrency held in a Binance account, allegedly linked to bribes authorized by former FTX CEO Sam Bankman-Fried. The funds, including Solana, Avalanche, Ripple, Cardano, and Internet Computer tokens, are believed to have originated from illicit transactions related to Bankman-Fried’s attempt to bribe Chinese officials in 2021.
Caroline Ellison, a key figure in the FTX scandal and former romantic partner of Sam Bankman-Fried, has been sentenced to 24 months in prison. Judge Lewis Kaplan, who also presided over Bankman-Fried’s trial, praised Ellison’s extensive cooperation in the case but emphasized the severity of the crime, stating that cooperation cannot be a ‘get out of jail free card.’
Rapper Sean Combs, known as ‘Diddy,’ and disgraced cryptocurrency tycoon Sam Bankman-Fried are sharing a dormitory at the Metropolitan Detention Center in Brooklyn. Combs, facing sex trafficking charges, and Bankman-Fried, serving a 25-year sentence for fraud, are both high-profile inmates at the facility.
Sean ‘Diddy’ Combs and disgraced crypto mogul Sam Bankman-Fried find themselves sharing a dormitory at Brooklyn’s Metropolitan Detention Center, a facility known for its harsh conditions. Diddy faces charges of sex trafficking and racketeering while Bankman-Fried serves a 25-year sentence for fraud. This unexpected pairing highlights the facility’s high-profile inmate population and the ongoing legal battles surrounding both men.
Caroline Ellison, former CEO of Alameda Research, has been sentenced to 24 months in prison for her role in the FTX fraud case. Her cooperation with prosecutors was instrumental in securing the conviction of Sam Bankman-Fried, the FTX founder. The sentence highlights the consequences of financial misconduct in the cryptocurrency industry.
The Biden Victory Fund has returned a $50,000 donation from Sam Bankman-Fried, the former CEO of the now-defunct cryptocurrency exchange FTX. Bankman-Fried, who was sentenced to 25 years in prison last month for stealing $8 billion from customers, donated to Biden in 2022. Since April 2023, the U.S. Marshals Service has collected over $2.35 million in FTX donations from over 150 political campaigns and committees. Other politicians and organizations that have returned FTX donations include the Democratic National Committee, the National Republican Senatorial Committee, and the campaign of Rep. Abigail Spanberger (D-VA).
Sam Bankman-Fried, the former CEO of the failed cryptocurrency exchange FTX, is set to cooperate with a class-action lawsuit filed by investors and customers who lost money when the company collapsed. Bankman-Fried has agreed to assist in prosecuting celebrities who endorsed FTX, including Tom Brady, Larry David, Stephen Curry, Shaquille O’Neal, and Naomi Osaka. The lawsuit alleges that the celebrities promoted FTX without disclosing that they were paid by Bankman-Fried, and that they are therefore liable for some of the losses incurred by investors.
