ReportWire

Tag: Manhattan

  • Closing arguments conclude in trial of accused NYC bike path terror suspect | CNN

    Closing arguments conclude in trial of accused NYC bike path terror suspect | CNN

    [ad_1]


    New York
    CNN
     — 

    Closing arguments concluded Tuesday in the trial of Sayfullo Saipov, the man prosecutors say was radicalized by ISIS propaganda before he allegedly drove a rented truck down a bike path in New York, killing eight pedestrians in 2017.

    The judge is expected to charge the jury with the case Wednesday morning. He indicated the reading of the jury instructions will take several hours before deliberations begin.

    Defense attorney David Patton acknowledged in his closing argument that the defense does not dispute facts of the attack Saipov is accused of committing on Halloween in 2017.

    “It is no defense ‘I was convinced by others to do it,’ nobody forced him to do this and he’s guilty of murder and assault among many other crimes,” Patton told the jury.

    Six foreign tourists and two Americans were killed in the attack, the deadliest terrorist attack New York had seen since 9/11.

    The defense attorney disputed, however, prosecutors’ claim that Saipov was motivated to commit the attack to gain entry to ISIS.

    He argued that was not Saipov’s goal, and that the attack was spurred by religious fervor to please his God and “ascend to paradise” in his religion.

    Patton also noted ISIS does not call its members “soldiers of the Caliphate” as Saipov has referred to himself, according to trial evidence, but rather identifies its members by another term.

    The defense attorney said Saipov’s claim that an ISIS leader told him to commit the attack likely comes from a propaganda video recovered on his phone. Buying into ISIS propaganda does not suggest Saipov had any direct contact or coordination with ISIS members ahead of the attack, Patton said.

    In this courtroom sketch, Saipov listens during closing statements Tuesday.

    The people communicating with Saipov in “The House of the Caliphate” messaging group could have been anywhere, according to the defense attorney, and were not necessarily ISIS members in Syria or other territories occupied by the terrorist organization.

    Saipov faces eight capital counts of murder in aid of racketeering activity that could result in the death penalty if he’s convicted. The jury must determine in part whether the government proved beyond a reasonable doubt that gaining entrance to ISIS was a substantial motivating factor for Saipov’s attack.

    “I just hope you will see why it is so important for you to get that right,” Patton told the jury in closing.

    Prosecutors told the jury in the government’s rebuttal Tuesday evening that Saipov must be convicted on all counts as they stand.

    “People who ISIS relies upon to conquer territory and kill non-believers, those are its soldiers. Of course they are part of ISIS. That is common sense,” prosecutor Amanda Leigh Houle said. “An organization engaged in a worldwide war needs its soldiers and its soldiers are part of the group.”

    The trial is the first federal death penalty case heard under President Joe Biden, who previously pledged to eliminate the death penalty at the federal level.

    [ad_2]

    Source link

  • 10 librarians nationwide receive I Love My Librarian awards

    10 librarians nationwide receive I Love My Librarian awards

    [ad_1]

    NEW YORK (AP) — Some are fighting local efforts to censor books, while others are focused on cultural programs, education about Ukraine or helping people buy groceries: These are this year’s winners of the I Love My Librarian Award.

    Based everywhere from New York City to Carencro, Louisiana, the winners share a common desire to work closely with their patrons.

    “Even in these unprecedented times and as our nation’s library workers face historic levels of intimidation and harassment due to an ongoing wave of book censorship, librarians continue to empower their patrons, teach critical literacy skills, promote inclusion in their space and collections, and provide vital services for their communities,” American Library Association President Lessa Kanani’opua Pelayo-Lozada said in a statement Tuesday.

    Each of the 10 honorees will receive a $5,000 cash prize and a $750 travel stipend to attend the library association’s LibLearnX event later this month in New Orleans. The awards are based on nominations from library users around the country and made possible by a grant from the Carnegie Corporation of New York and support from the New York Public Library.

    Winners include Kathryn Blackmer Reyes of the San Jose State University library in San Jose, California, cited for how she promoted untold stories by Asian Americans, Native Americans and Hispanics among others. At the Highlands County Library System in Sebring, Florida, Vikki Brown successfully pressed for a grant to set up a mobile library for the rural population.

    Cara Chance of the Lafayette Public Library, in Carencro, Louisiana, has battled efforts by the library’s Board of Control to restricts books with LGBTQ themes. Tara Coleman, based at Kansas State University in Manhattan, Kansas, has led a campuswide common reading program; and David Ettinger, at George Washington University in Washington, D.C., is working with students on their research skills.

    At Childs Elementary School, in Bloomington, Indiana, Julie Marie Frye is helping kids learn more about Ukraine in the wake of the Russian invasion. Lauren Ginsberg-DeVilbiss, of the Wright Brothers School in New York City, is helping students grow a community garden. Students at Christ Church Episcopal School, in Greenville, South Carolina, are receiving help from librarian Jamie Gregory in learning about censorship and the meaning of intellectual freedom.

    Roseanna Gulisano, at Highbridge School in New York City, has worked to raise money for more books for students who can’t afford to buy them, along with funds to buy food and clothing. At the Evanston Public Library in Evanston, Illinois, Elacsha Madison has focused on teen programs in marginalized communities.

    The awards were established in 2008. This year, judges at the library association chose the winners from more than 1,500 nominations.

    [ad_2]

    Source link

  • Nursing strike at two big NYC hospitals enters second day

    Nursing strike at two big NYC hospitals enters second day

    [ad_1]

    A nursing strike that has disrupted patient care at two of New York City’s largest hospitals entered its second day Tuesday, with a union official saying progress was being made toward a possible settlement at one of the institutions.

    The two hospitals, Montefiore Medical Center and Mount Sinai Hospital, were postponing nonemergency surgeries, diverting ambulances to other medical centers, pulling in temporary staffers and assigning administrators with nursing backgrounds to work in wards in order to cope with the walkout of as many as 7,100 nurses.

    The New York State Nurses Association, which represents the workers, said yesterday it had been forced into the drastic step because of severe understaffing that leaves nurses caring for too many patients.

    Thousands Of New York City Nurses Go On Strike At Two Hospitals
    Nurses and health care workers enter Day 2 of  strikes at Montefiore Medical Center and Mount Sinai Hospital in New York City.  

    Jeenah Moon/Bloomberg via Getty Images


    “Nurses don’t want to strike. Bosses have pushed us to strike by refusing to seriously consider our proposals to address the desperate crisis of unsafe staffing that harms our patients,” the union said in a statement late Sunday.

    Progress was being made toward a settlement at Montefiore, Judy Sheridan-Gonzalez, a union official and a nurse at the Bronx hospital system, said Tuesday.

    On the picket line outside, nurses said they had to strike because chronic understaffing leaves them caring for too many patients.

    “We’re tired now — overwhelmed. Nurses are burned out,” said Saffie Sesay, an emergency room nurse at the hospital. “It’s just getting worse.”

    “Truly moving to hear from frontline nurses and our supporters about the conditions that have led to this strike,” the NYSNA tweeted Tuesday afternoon.

    Meanwhile, as of midday, negotiations hadn’t yet resumed at Mount Sinai Hospital, on Manhattan’s east side. Hospital spokesperson Lucia Lee expressed hope that talks could soon resume with the union, the New York State Nurses Association.

    “The impact is being felt,” she said of the walkout.

    Last holdouts

    Montefiore and Mount Sinai are the last of a group of hospitals with nursing contracts that expired simultaneously. The union initially warned that it would strike at all of them at the same time, but the other hospitals reached agreements as a Monday strike deadline approached. All include raises of 7%, 6%, and 5%, respectively, over the next three years.

    Nurses on the picket lines stressed that staffing levels are a bigger issue than pay. New York City’s nurses were hailed as heroes in the spring of 2020 when the city was an epicenter of deaths from COVID-19. Now, they say they are being burned out by poor staffing levels that have been a problem for years.


    Hospitals face dire nursing shortage

    02:30

    “Remember, even prior to (the) pandemic we’re already short of staff,” said Mount Sinai nurse Nagie Pamphil. She said nurses in her unit are now expected to care for twice as many patients as they can safely handle.

    “That’s impossible,” she said.

    Montefiore said it had agreed to add 170 more nurses. Mount Sinai’s administration said the union’s focus on nurse-to-patient ratios “ignores the progress we have made to attract and hire more new nurses, despite a global shortage of healthcare workers that is impacting hospitals across the country.”

    [ad_2]

    Source link

  • Times Square machete attack suspect indicted on terrorism charges | CNN

    Times Square machete attack suspect indicted on terrorism charges | CNN

    [ad_1]



    CNN
     — 

    Trevor Bickford, the 19-year-old accused of attacking New York Police Department officers with a machete on New Year’s Eve, was indicted Friday on more than a dozen charges, including several terrorism charges, prosecutors announced.

    Bickford now faces three counts of attempted murder in the first degree, as well as three counts of attempted murder in the first degree in furtherance of an act of terrorism, one count of assault in the first degree as a crime of terrorism, one count of aggravated assault on a police officer as a crime of terrorism, two counts of attempted assault in the first degree as a crime of terrorism, and several other charges related to assault and attempted assault.

    “We are grateful for our NYPD officers who put their lives on the line every day to keep us safe, as well as our Joint Terrorism Task Force partners,” Manhattan District Attorney Alvin Bragg said in a statement Friday evening.

    “All eyes are on Times Square on New Year’s Eve and these charges reflect the seriousness of this alleged threat to the safety of our city and our officers,” Bragg added.

    Rosemary Vassallo-Vellucci, Bickford’s attorney with the Legal Aid Society, said Wednesday her client should be presumed innocent.

    Bickford allegedly went to the Times Square checkpoint just after 10 p.m., authorities said. At the security area, he allegedly pulled out a machete, struck one officer with the blade and another officer in the head with the handle, and then swung the blade at a third officer, who shot Bickford in the shoulder, according to law enforcement sources and the NYPD.

    The three officers were hospitalized in stable condition and released, the department previously said.

    At his arraignment on Wednesday, prosecutors said the suspect tried to grab a gun from an officer during the attack but could not get it out of the holster.

    Prosecutors also alleged the suspect said all government officials were his target because in his mind, they “cannot be proper Muslims because the United States government supports Israel.”

    According to law enforcement sources briefed on the investigation, Bickford told officers he went to Times Square that night prepared to kill, but only agents of the government, not civilians.

    Bickford said he was about to attack a police officer who was talking to a woman with a small child, but did not want to risk injuring the woman and child so he attacked the next officer from behind and then engaged the other two officers who came to his aid, the sources said.

    Prosecutor Lucy Nicholas also alleged in court Wednesday the suspect “admitted that he purposefully waited until he saw a moment when the officer was isolated and not near any civilian when he could attack him.”

    Multiple law enforcement sources with direct knowledge of the case also previously told CNN a diary which was found in the suspect’s backpack expressed a desire to join the Taliban and it criticized his brother for joining the US military.

    The suspect also worried his mother would not repent to Allah, according to another writing in the diary, the sources said.

    Bickford had also been interviewed by FBI agents in Maine last month after he said he wanted to travel overseas to help fellow Muslims and was willing to die for his religion, according to multiple law enforcement sources.

    Bickford’s mother and grandmother became increasingly concerned about his desire to travel to Afghanistan to join the Taliban and reported this to the Wells, Maine, police department out of concern for him on December 10, the sources said.

    When the FBI opened its wider investigation, they also placed him on a terrorist watch list, according to sources. Because the Taliban is not designated a foreign terrorist entity, planning to travel to Afghanistan to join the group does not constitute the federal crime of “attempted material support of a terrorist group.”

    Multiple law enforcement sources told CNN Bickford traveled to New York via Amtrak, so those travels would not have tripped any watch list databases.

    [ad_2]

    Source link

  • FTX founder Sam Bankman-Fried pleads not guilty to fraud

    FTX founder Sam Bankman-Fried pleads not guilty to fraud

    [ad_1]

    NEW YORK — FTX founder Sam Bankman-Fried pleaded not guilty in Manhattan federal court Tuesday to charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform as a judge set a tentative trial date for October.

    Bankman-Fried, 30, denied charges accusing him of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm.

    Bankman-Fried’s attorney, Mark Cohen, announced his client’s plea, saying: “He pleads not guilty to all counts.”

    Afterward, Judge Lewis A. Kaplan set a tentative trial date of Oct. 2, saying he might move it forward or backward a day or two. A prosecutor estimated it would take the government a month to present its case to a jury, while a defense lawyer projected putting on a case lasting two to three weeks.

    Wearing a backpack, Bankman-Fried marched through a crush of cameras as he entered the courthouse on a rainy day to make his first appearance before Kaplan. In the courtroom, Bankman-Fried appeared relaxed through most of the half-hour-long proceeding, occasionally speaking to a lawyer next to him. When he left court, he did not speak to reporters outside.

    After Bankman Fried pleaded not guilty, the judge discussed with lawyers a schedule for proceeding toward trial, setting April dates for defense lawyers to submit arguments challenging the validity of the charges and for prosecutors to respond to them. Oral arguments were set for May 18.

    The judge also added to Bankman-Fried’s bail conditions by banning him from accessing or transferring cryptocurrency or assets of FTX or Alameda Research or any assets purchased with funds from the companies.

    He did so after Assistant U.S. Attorney Danielle Sassoon said Bankman-Fried had worked with foreign regulators to transfer FTX assets to them after FTX declared bankruptcy and he knew U.S. bankruptcy authorities were also interested in those assets.

    Sassoon said Bankman-Fried expressed to a co-conspirator that he knew there was competition between U.S. bankruptcy authorities and foreign regulators and he wanted to get the assets to the foreign regulators in part because he thought they’d be more lenient with him and he might be able to regain control of his business.

    Cohen, though, insisted that Bankman-Fried had not personally transferred any assets and that anything that was moved came at the insistence of a court in the Bahamas that ordered it to occur.

    Sassoon, noting FTX was the second largest cryptocurrency exchange, also told the judge that the government hoped to create a website for victims of the fraud, rather than notify them individually since they might number over one million.

    Prior to Bankman-Fried’s appearance, his lawyers sent a letter to the judge, saying Bankman-Fried’s parents — both Stanford Law School professors, in recent weeks have become the target of “intense media scrutiny, harassment, and threats. They said the parents had received “a steady stream of threatening correspondence, including communications expressing a desire that they suffer physical harm.”

    As a result, the lawyers asked that the names be redacted on court documents for two individuals who were lined up to sign Bankman-Fried’s $250 million personal recognizance bond. Bankman-Fried was released with electronic monitoring about two weeks ago on the condition that he await trial at his parents’ house in Palo Alto, California.

    The judge allowed the names to remain secret for now, but he said he may reconsider his decision if members of the media or others object.

    Carolyn Ellison, 28, who ran Alameda, and Gary Wang, 29, who co-founded FTX, have pleaded guilty to fraud charges and are cooperating with prosecutors in a bid for leniency. Both are free on bail.

    Their pleas were kept secret until Bankman-Fried was in the air after his extradition from the Bahamas, where FTX is based, due to fears that he might flee.

    Shortly before Bankman-Fried’s arraignment, U.S. Attorney Damian Williams announced that he was launching a task force made up of senior prosecutors in his office to investigate and prosecute matters related to the FTX collapse. He said the task force also will work to trace and recover victim assets.

    “The Southern District of New York is working around the clock to respond to the implosion of FTX,” Williams said in a press release. “It is an all-hands-on-deck moment. We are launching the SDNY FTX Task Force to ensure that this urgent work continues, powered by all of SDNY’s resources and expertise, until justice is done.”

    [ad_2]

    Source link

  • FTX founder Sam Bankman-Fried faces arraignment in New York

    FTX founder Sam Bankman-Fried faces arraignment in New York

    [ad_1]

    NEW YORK — FTX founder Sam Bankman-Fried will be arraigned in a Manhattan federal court Tuesday on charges that he cheated investors and looted customer deposits on his cryptocurrency trading platform.

    Bankman-Fried, 30, was accused of illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm.

    He is expected to plead not guilty before Judge Lewis A. Kaplan before the judge and lawyers discuss a schedule for proceeding toward a trial.

    Carolyn Ellison, 28, who ran Alameda, and Gary Wang, 29, who co-founded FTX, have pleaded guilty to fraud charges and are cooperating with prosecutors in a bid for leniency. Both are free on bail.

    Their pleas were kept secret until Bankman-Fried was in the air after his extradition from the Bahamas, where FTX is based, due to fears that he might flee.

    Bankman-Fried, 30, was released from custody on a $250 million personal recognizance bond with electronic monitoring about two weeks ago on the condition that he await trial at his parents’ house in Palo Alto, California.

    [ad_2]

    Source link

  • Police say 22 injured when SUV crashes into NYC restaurant

    Police say 22 injured when SUV crashes into NYC restaurant

    [ad_1]

    NEW YORK — A hit-and-run driver rear-ended a sport utility vehicle and sent it crashing into a New York City restaurant, injuring 22 people, police said Tuesday.

    The crash happened at about 9 p.m. Monday in upper Manhattan, a police spokesperson said.

    A white Audi exited a gas station and struck the rear of a Toyota sport utility vehicle, causing the SUV’s driver to lose control of the vehicle, police said. The SUV mounted the curb and crashed into the front window of the Inwood Bar and Grill, police said.

    A total of 22 people were injured in the collision, police said, mostly by flying glass. Nineteen people were taken to hospitals and the remaining three declined medical attention. Police said none of the injuries were life-threatening.

    The Audi’s driver fled the scene and was being sought Tuesday.

    [ad_2]

    Source link

  • Looted ancient sarcophagus returned to Egypt from US

    Looted ancient sarcophagus returned to Egypt from US

    [ad_1]

    CAIRO — An ancient wooden sarcophagus that was featured at the Houston Museum of Natural Sciences was returned to Egypt after U.S. authorities determined it was looted years ago, Egyptian officials said Monday.

    The repatriation is part of Egyptian government efforts to stop the trafficking of its stolen antiquities. In 2021, authorities in Cairo succeeded in getting 5,300 stolen artifacts returned to Egypt from across the world.

    Mostafa Waziri, the top official at the Supreme Council of Antiquities, said the sarcophagus dates back to the Late Dynastic Period of ancient Egypt, an era that spanned the last of Pharaonic rulers from 664 B.C. until Alexander the Great’s campaign in 332 B.C.

    The sarcophagus, almost 3 meters (9.5 feet) tall with a brightly painted top surface, may have belonged to an ancient priest named Ankhenmaat, though some of the inscription on it has been erased, Waziri said.

    It was symbolically handed over at a ceremony Monday in Cairo by Daniel Rubinstein, the U.S. chargé d’affaires in Egypt.

    The handover came more than three months after the Manhattan District Attorney’s Office determined the sarcophagus was looted from Abu Sir Necropolis, north of Cairo. It was smuggled through Germany into the United States in 2008, according to Manhattan District Attorney Alvin L. Bragg.

    “This stunning coffin was trafficked by a well-organized network that has looted countless antiquities from the region,” Bragg said at the time. “We are pleased that this object will be returned to Egypt, where it rightfully belongs.”

    Bragg said the same network had smuggled a gilded coffin out of Egypt that was featured at New York’s Metropolitan Museum. Met bought the piece from a Paris art dealer in 2017 for about $4 million. It was returned to Egypt in 2019.

    [ad_2]

    Source link

  • Suspect in New Year’s Eve machete attack on police near New York’s Times Square expressed desire in diary to join Taliban, die a martyr, sources say | CNN

    Suspect in New Year’s Eve machete attack on police near New York’s Times Square expressed desire in diary to join Taliban, die a martyr, sources say | CNN

    [ad_1]



    CNN
     — 

    The 19-year-old being held by New York City police as the suspect in a New Year’s Eve machete attack against three police officers just outside a Times Square security screening zone carried a handwritten diary that expressed his desire to join the Taliban in Afghanistan and die as a martyr, law enforcement sources said.

    Trevor Bickford remains in custody and under police guard at Bellevue Hospital, where he is being treated for a gunshot wound to the shoulder sustained during the attack, sources said.

    The three officers – injured at one of New York’s most high-profile events just a day after their department had warned of an “ISIS-Aligned” video calling for “Lone Offender Attacks” – have all been treated and released, according to the New York Police Department.

    On Sunday, federal authorities from the United States Attorney’s Office for the Southern District of New York, and the Manhattan District Attorney’s Office were discussing whether to charge Bickford federally or under state law or both in relation to the attack, the sources said.

    The suspect has not been charged, and it is unclear whether he has an attorney. The US Attorney’s office declined to comment. CNN has reached out to the Manhattan DA’s office for comment.

    Investigators believe Bickford arrived Thursday in New York and checked into a hotel on Manhattan’s Lower East Side, the sources said. Then Saturday, he went just after 10 p.m. to the Times Square checkpoint at West 52nd Street and 8th Avenue where officers would check bags for weapons or suspicious items, NYPD Police Commissioner Keechant Sewell and police said.

    Bickford pulled out a machete, striking one officer with the blade and another officer in the head with the handle before swinging the blade at a third officer, who then shot him in the shoulder, according to the sources and the NYPD.

    Investigators on Sunday were seeking search warrants for the suspect’s phone and online activities to determine if he had been viewing violent extremist propaganda, law enforcement sources said.

    The NYPD had sent a bulletin Friday to law enforcement partners across the country titled, “ISIS-Aligned Media Unit Releases Video Ahead of New Year’s Eve, Demanding Lone Offender Attacks,” according to the sources. The video, being circulated in online chat rooms, shows “selected video clips, suggesting various means of attack, including explosives, handguns, knives, and toxins,” according to the bulletin, obtained by CNN.

    It’s not clear if the checkpoint attack suspect has viewed terrorist propaganda. The tactics appear to follow a familiar model of prior attacks against New York City by lone offenders.

    If deemed a terrorist attack, it would be the first by a suspected terrorist on the event in Times Square, one of the world’s most watched New Year’s Eve celebrations.

    Bickford is from Wells, Maine, according to sources, a beach town with a population of just over 11,000 people.

    Correction: An earlier version of this story incorrectly stated when the NYPD sent a bulletin about a video released by ISIS-aligned media. It was Friday.

    [ad_2]

    Source link

  • Trump’s tax returns to be released Friday after long fight

    Trump’s tax returns to be released Friday after long fight

    [ad_1]

    A House committee is set to release six years of Donald Trump’s tax returns on Friday, pulling back the curtain on financial records that the former president fought for years to keep secret.

    The Democratic-controlled House Ways and Means Committee voted last week to release the returns, with some redactions of sensitive information, such as Social Security numbers and contact information. Their dissemination comes in the waning days of Democrats’ control of the House and as Trump’s fellow Republicans prepare to retake power in the chamber.

    The committee obtained six years of Trump’s personal and business tax records, from 2015 to 2020, while investigating what it said in a Dec. 20 report was the Internal Revenue Service’s failure to pursue mandatory audits of Trump on a timely basis during his presidency, as required under the tax agency’s protocol.

    The release raises the potential of new revelations about Trump’s finances, which have been shrouded in mystery and intrigue since his days as an up-and-coming Manhattan real estate developer in the 1980s. The returns could take on added significance now that Trump has launched a third campaign for the White House.

    Trump’s tax returns are likely to offer the clearest picture yet of his finances during his time in office.

    Trump, known for building skyscrapers and hosting a reality TV show before winning the White House, broke political norms by refusing to make public his returns as he sought the presidency — though he did give some limited details about his holdings and income on mandatory disclosure forms.

    Instead, Trump has touted his wealth in the annual financial statements he gives to banks to secure loans and to financial magazines to justify his place on rankings of the world’s billionaires.

    Trump’s longtime accounting firm has since disavowed the statements, and New York Attorney General Letitia James has filed a lawsuit alleging Trump and his Trump Organization inflated asset values on the statements as part of a yearslong fraud. Trump and his company have denied wrongdoing.

    It will not be the first time Trump’s tax returns have been under scrutiny. In October 2018, The New York Times published a Pulitzer Prize-winning series based on leaked tax records that showed that Trump received a modern-day equivalent of at least $413 million from his father’s real estate holdings, with much of that money coming from what the Times called “tax dodges” in the 1990s.

    A second series in 2020 showed that Trump paid just $750 in federal income taxes in 2017 and 2018, as well as no income taxes at all in 10 of the past 15 years because he generally lost more money than he made.

    In its report last week, the Ways and Means Committee indicated the Trump administration may have disregarded a post-Watergate requirement mandating audits of a president’s tax filings.

    The IRS only began to audit Trump’s 2016 tax filings on April 3, 2019 — more than two years into his presidency — when Ways and Means chair Rep. Richard Neal, D-Mass., asked the agency for information related to the tax returns.

    By comparison, there were audits of President Joe Biden for the 2020 and 2021 tax years, said Andrew Bates, a White House spokesperson. A spokesperson for former President Barack Obama said Obama was audited in each of his eight years in office.

    An accompanying report from Congress’ nonpartisan Joint Committee on Taxation raised multiple red flags about aspects of Trump’s tax filings, including his carryover losses, deductions tied to conservation and charitable donations, and loans to his children that could be taxable gifts.

    The House passed a bill in response that would require audits of any president’s income tax filings. Republicans strongly opposed the legislation, raising concerns that a law requiring audits would infringe on taxpayer privacy and could lead to audits being weaponized for political gain.

    Republicans have argued that Democrats will regret the move once Republicans take power in January, and they warn that the committee’s new GOP chair will be under pressure to seek and make public the tax returns of other prominent people.

    The measure, approved mostly along party lines, has little chance of becoming law in the final days of this Congress. Rather, it is seen as a starting point for future efforts to bolster oversight of the presidency.

    Every president and major-party candidate since Richard Nixon has voluntarily made at least summaries of their tax information available to the public. Trump bucked that trend as a candidate and as president, repeatedly asserting that his taxes were “under audit” and couldn’t be released.

    Trump’s lawyers were repeatedly denied in their quest to keep his tax returns from the Ways and Means Committee. A three-judge federal appeals court panel in August upheld a lower-court ruling granting the committee access.

    Trump’s lawyers also tried and failed to block the Manhattan district attorney’s office from getting Trump’s tax records as part of its investigation into his business practices, losing twice in the Supreme Court.

    Trump’s longtime accountant, Donald Bender, testified at the Trump Organization’s recent Manhattan criminal trial that Trump reported losses on his tax returns every year for a decade, including nearly $700 million in 2009 and $200 million in 2010.

    Bender, a partner at Mazars USA LLP who spent years preparing Trump’s personal tax returns, said Trump’s reported losses from 2009 to 2018 included net operating losses from some of the many businesses he owns through the Trump Organization.

    The Trump Organization was convicted earlier this month on tax fraud charges for helping some executives dodge taxes on company-paid perks such as apartments and luxury cars.

    ———

    Associated Press writer Paul Wiseman in Washington contributed to this report.

    [ad_2]

    Source link

  • NYC robbery crews drug unsuspecting men, some fatally

    NYC robbery crews drug unsuspecting men, some fatally

    [ad_1]

    NEW YORK (AP) — Multiple people have been fatally poisoned with narcotics in what investigators say were schemes by criminal crews to incapacitate and rob people at New York City bars and nightclubs.

    The killings — at least five, according to police — stretch back months and appear to be the work of different crews, operating independently from each other but using similar tactics, police and prosecutors said Thursday.

    Men surreptitiously slip revelers dangerous levels of drugs to knock them out, then take their wallets and phones, sometimes using their digital banking info to drain their accounts.

    In March, Nurbu Sherpa, a 29-year-old chef, was found dead on the sidewalk after leaving a bar where he had been celebrating St. Patrick’s Day.

    In April, Julio Ramirez, a 25-year-old social worker, died in a taxi after leaving a Manhattan bar with a group of men. Later, relatives discovered some of his savings had been stolen.

    In May, John Umberger, a 33-year-old political consultant visiting from Washington D.C., was found dead of an apparent drug overdose in the townhouse where he was staying. Surveillance video showed him leaving a popular club being propped up by a group of men. Money was also taken from his bank account.

    Other men have come forward with stories about being drugged by strangers and waking up to find money gone.

    Many of the crimes remain unsolved, but the Manhattan district attorney on Thursday announced that one suspect, Kenwood Allen, of the Bronx, had been charged with murder in Sherpa’s death and in the killing of Ardijan Berisha, 26.

    Berisha, of South Salem, New York, and a friend passed out on the sidewalk in July after drinking at a bar on Manhattan’s Lower East Side.

    Allen drugged both of his victims with fentanyl, prosecutors said, then robbed them. He is accused in three other instances where victims survived.

    Allen’s sister told the Daily News her brother is innocent.

    “My brother is not a murderer,” said Lauren Allen, 39. “My brother has always taken care of his family, his mother and his sisters. He’s not in no gang. He’s not in some crew going around drugging and robbing people. That’s just not true, that’s ridiculous.”

    No one has been charged in the other killings, which are still under investigation.

    “Nobody should have to worry that a night out at a Manhattan bar with friends could end in tragedy,” Manhattan District Attorney Alvin Bragg said.

    At a news conference Thursday, New York Police Department Lt. Det. Dave Leonardi said some of the victims were given a mix of drugs including lidocaine, fentanyl and cocaine — with lidocaine being the substance that really incapacitated them.

    The deaths of Ramirez and Umberger prompted concern that gay men were being targeted. Both died after leaving Manhattan LGBTQ bars. Some victims and their relatives have complained that the crimes weren’t treated with more urgency by police.

    Umberger’s mother, Linda Clary of Dawsonville, Georgia, said that after hearing about Ramirez’s death and stories from others, she felt frustrated by authorities’ response.

    “There were enough cases reported that NYPD should have sounded the warning bells to say this is going on, people need to be careful, but they didn’t,” she said.

    NYPD Chief of Detectives James Essig said robberies have occurred beyond the gay community.

    “We don’t particularly think they’re targeting gay members,” he said. “This is based solely on monetary gain.”

    Still, unease about possible targeting remains, especially in an environment when an anti-LGBTQ atmosphere has been felt around the country, said Beverly Tillary, executive director of the New York City Anti-Violence Project, an organization that advocates for LGBTQ communities.

    “There’s some sense of being on edge,” she said, “and not knowing what might happen next in terms of attacks on our community.”

    [ad_2]

    Source link

  • Manhattan man charged in 2 random knife slashing murders

    Manhattan man charged in 2 random knife slashing murders

    [ad_1]

    NEW YORK — Two seemingly isolated and random outdoor murders at the height of the holiday season and of the kind New Yorkers have increasingly feared since the pandemic began were blamed by police officials Monday on a city resident with a criminal record.

    James Essig, chief of detectives for the New York Police Department, underscored at a news conference how brief and unplanned were the encounters Roland Codrington is accused of having with two men slashed to death in nighttime killings three days apart, resulting in two murder charges.

    It was not immediately clear who would represent Codrington at initial court appearances.

    The killings come at a time of increased anxiety citywide over random violence. Mayor Eric Adams recently announced plans for authorities to more aggressively intervene to help people who need mental health treatment, including forcing individuals off streets and subways and into treatment.

    Early this year after taking office, Adams said even he didn’t feel safe riding the subway, despite boosted police patrols.

    In April, a man was charged with injuring 10 people in Brooklyn when he set off a pair of smoke grenades and then scattered a barrage of random shots inside a train between stations. In May, a 48-year-old man was shot and killed riding a train between Brooklyn and lower Manhattan.

    Despite random acts, the number of crimes reported on public transit by September was averaging slightly below pre-pandemic levels, though ridership was also down.

    In the arrest announced Monday, Essig said the first killing Codrington was charged with occurred at 1 a.m. on Dec. 19, when 51-year-old James Cunningham, who had just left a bar after drinking a seltzer, was walking several blocks from Union Square when he was approached by Codrington, who was accompanied by his girlfriend.

    After a 20-second-long, caught-on-camera dispute, Codrington, 35, slashed Cunningham across the neck with a knife, leaving him to die, Essig said.

    At 11:30 p.m. on Dec. 22, Codrington entered a Lower East Side bar with a pit bull and a baseball bat, Essig said. Crodrington thought he had been disrespected by employees at the bar a week earlier. He assaulted the bartender and destroyed property, Essig said.

    When two customers intervened, they were stabbed with a large knife, incurring non-life threatening wounds, Essig added.

    Afterward, Essig said, Codrington went home, then said he’d “cool off” with a walk through the park.

    There, he encountered Dr. Bruce Maurice Henry, 60, stabbing him repeatedly after a verbal exchange in which he became enraged, Essig said. The police official said Codrington left the area with his girlfriend in Henry’s Mercedes Benz. Henry’s body was found at 2:15 a.m. on Dec. 23.

    Essig credited three “sharp-eyed police officers” from upper Manhattan with spotting the car at 9:40 p.m. on Dec. 24 and apprehending Codrington without resistance. Codrington, he said, has 12 prior arrests, including four assaults with weapons. Essig said police were investigating whether he’s responsible for other random acts.

    Asked about the girlfriend, Essig said she’s involved in the investigation but “hasn’t been charged as of yet.”

    He said he couldn’t explain what the doctor was doing in the park or what the argument was about, but added: “You know, for whatever reason he was in the park at that time, he didn’t deserve what he got.”

    [ad_2]

    Source link

  • NYC robbery crews drug unsuspecting men, some fatally

    NYC robbery crews drug unsuspecting men, some fatally

    [ad_1]

    NEW YORK — Multiple people have been fatally poisoned with narcotics in what investigators say were schemes by criminal crews to incapacitate and rob people at New York City bars and nightclubs.

    The killings — at least five, according to police — stretch back months and appear to be the work of different crews, operating independently from each other but using similar tactics, police and prosecutors said Thursday.

    Men surreptitiously slip revelers dangerous levels of drugs to knock them out, then take their wallets and phones, sometimes using their digital banking info to drain their accounts.

    In March, Nurbu Sherpa, a 29-year-old chef, was found dead on the sidewalk after leaving a bar where he had been celebrating St. Patrick’s Day.

    In April, Julio Ramirez, a 25-year-old social worker, died in a taxi after leaving a Manhattan bar with a group of men. Later, relatives discovered some of his savings had been stolen.

    In May, John Umberger, a 33-year-old political consultant visiting from Washington D.C., was found dead of an apparent drug overdose in the townhouse where he was staying. Surveillance video showed him leaving a popular club being propped up by a group of men. Money was also taken from his bank account.

    Other men have come forward with stories about being drugged by strangers and waking up to find money gone.

    Many of the crimes remain unsolved, but the Manhattan district attorney on Thursday announced that one suspect, Kenwood Allen, of the Bronx, had been charged with murder in Sherpa’s death and in the killing of Ardijan Berisha, 26.

    Berisha, of South Salem, New York, and a friend passed out on the sidewalk in July after drinking at a bar on Manhattan’s Lower East Side.

    Allen drugged both of his victims with with fentanyl, prosecutors said, then robbed them. He is accused in three other instances where victims survived.

    Allen’s sister told the Daily News her brother is innocent.

    “My brother is not a murderer,” said Lauren Allen, 39. “My brother has always taken care of his family, his mother and his sisters. He’s not in no gang. He’s not in some crew going around drugging and robbing people. That’s just not true, that’s ridiculous.”

    Nobody has been charged in the other killings, which are still under investigation.

    “Nobody should have to worry that a night out at a Manhattan bar with friends could end in tragedy,” Manhattan District Attorney Alvin Bragg said.

    At a news conference Thursday, New York Police Department Lt. Det. Dave Leonardi said some of the victims were given a mix of drugs including lidocaine, fentanyl and cocaine, with lidocaine being the substance that really incapacitated people.

    The deaths of Ramirez and Umberger prompted concern that gay men were being targeted. Both died after leaving Manhattan LGBTQ bars. Some victims and their relatives have complained that the crimes weren’t treated with more urgency by police.

    Umberger’s mother, Linda Clary of Dawsonville, Georgia, said that after hearing about Ramirez’s death and stories from others, she felt frustrated by authorities’ response.

    “There were enough cases reported that NYPD should have sounded the warning bells to say this is going on, people need to be careful, but they didn’t,” she said.

    NYPD Chief of Detectives James Essig said robberies have occurred beyond the gay community.

    “We don’t particularly think they’re targeting gay members,” he said. “This is based solely on monetary gain.”

    Still, unease about possible targeting remains especially in an environment when an anti-LGBTQ atmosphere has been felt around the country, said Beverly Tillary, executive director of the New York City Anti-Violence Project, an organization that advocates for LGBTQ communities.

    “There’s some sense of being on edge,” she said, “and not knowing what might happen next in terms of attacks on our community.”

    [ad_2]

    Source link

  • Judge kept FTX execs’ plea deals secret to get founder to US

    Judge kept FTX execs’ plea deals secret to get founder to US

    [ad_1]

    NEW YORK — A judge kept secret that two of Sam Bankman-Fried’s closest associates had turned against him so the cryptocurrency entrepreneur wouldn’t get spooked and fight extradition from the Bahamas, according to court transcripts made public Friday.

    U.S. prosecutors in New York waited until Bankman-Fried, the founder of the collapsed crypto exchange FTX, was in FBI custody before revealing that his business partners, Carolyn Ellison and Gary Wang, had secretly pleaded guilty to fraud charges and were cooperating in the investigation, which can earn them leniency at sentencing.

    U.S. Attorney Damian Williams announced the guilty pleas when Bankman-Fried was in the air late Wednesday.

    Prosecutors had been concerned that if Bankman-Fried found out his friends were cooperating, he might try to fight extradition from the Bahamas, where he had been arrested at the request of U.S. authorities.

    Ellison, 28, and Wang, 29, entered their guilty pleas in Manhattan federal court Monday to charges that carry a potential penalty of decades in prison.

    At that hearing, Assistant U.S. Attorney Danielle Sassoon told the judge prosecutors had expected Bankman-Fried to consent to extradition Monday before there were “some hiccups in the Bahamian courtroom.”

    “We’re still expecting extradition soon, but given that he has not yet entered his consent, we think it could potentially thwart our law enforcement objectives to extradite him if Ms. Ellison’s cooperation were disclosed at this time,” Sassoon told U.S. District Judge Ronnie Abrams.

    The judge got assurance from Ellison’s lawyer that there was no objection to the request before granting it.

    “Exposure of cooperation could hinder law enforcement officials’ ability to continue the ongoing investigation and, in addition, may affect Mr. Bankman-Fried’s decision to waive extradition in this case,” Abrams said.

    Bankman-Fried, 30, appeared in court in New York on Thursday. He was released on the condition that he live under house arrest with his parents in Palo Alto, California, while awaiting trial.

    The home where he was staying was protected Friday by heightened security, including a Stanford University security guard posted about 50 yards (46 meters) from the home to keep passersby away. The school’s president lives nearby.

    Ellison is the former chief executive of Bankman-Fried’s cryptocurrency hedge fund trading firm, Alameda Research. Wang co-founded FTX, the crypto exchange. Both agreed to testify at Bankman-Fried’s trial.

    They and Bankman-Fried are accused of defrauding customers and investors by illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda.

    In court Monday, Ellison said since FTX and Alameda collapsed in November, she has “worked hard to assist with the recovery of assets for the benefit of customers and to cooperate with the government’s investigation.”

    “I am truly sorry for what I did. I knew that it was wrong. And I want to apologize for my actions to the affected customers of FTX, lenders to Alameda and investors in FTX,” she said, according to a transcript.

    Ellison said she was aware from 2019 through 2022 that Alameda was given access to a borrowing facility at FTX.com that allowed Alameda to maintain negative balances in various currencies.

    She said the practical effect of the arrangement was that Alameda had access to an unlimited line of credit without being required to post collateral and without owing interest on negative balances or being subject to margin calls or liquidation protocols.

    Ellison said she knew that if Alameda’s FTX accounts had significant negative balances in any currency, it meant that Alameda was borrowing funds that FTX’s customers had deposited into the exchange.

    “While I was co-CEO and then CEO, I understood that Alameda had made numerous large illiquid venture investments and had lent money to Mr. Bankman-Fried and other FTX executives,” she said.

    Ellison said she understood that Alameda had financed the investments with short-term and open-term loans worth several billion dollars from external lenders in the cryptocurrency industry.

    When many of those loans were recalled by lenders in June, she agreed with others to borrow several billion dollars from FTX to repay them.

    “I understood that FTX would need to use customer funds to finance its loans to Alameda,” she said. “I also understood that many FTX customers invested in crypto derivatives and that most FTX customers did not expect that FTX would lend out their digital asset holdings and … deposits to Alameda in this fashion.”

    From July to October, Ellison said, she agreed with Bankman-Fried and others to provide misleading financial statements to Alameda’s lenders, including quarterly balance sheets that concealed the extent of the company’s borrowing and the billions of dollars in loans it had made to FTX executives and others.

    “I agreed with Mr. Bankman-Fried and others not to publicly disclose the true nature of the relationship between Alameda and FTX, including Alameda’s credit arrangement,” Ellison said.

    During his plea earlier Monday, Wang said that he made changes to computer code to enable the transactions with Alameda.

    “I knew what I was doing was wrong,” he said.

    ———

    Associated Press Writer Michael Liedtke in Palo Alto contributed to this report.

    [ad_2]

    Source link

  • Judge kept FTX execs’ plea deals secret to get founder to US

    Judge kept FTX execs’ plea deals secret to get founder to US

    [ad_1]

    NEW YORK — A judge agreed to a request by prosecutors to keep it secret that two of Sam Bankman-Fried’s executive associates had turned against him so that the cryptocurrency entrepreneur would agree not to fight extradition from the Bahamas to the United States, according to transcripts of plea deals made public Friday.

    U.S. District Judge Ronnie Abrams said during plea proceedings Monday in Manhattan that transcripts of the pleas could remain sealed until Bankman-Fried reached New York.

    U.S. Attorney Damian Williams announced the guilty pleas and cooperation deals by Carolyn Ellison, 28, and Gary Wang, 29, while Bankman-Fried flew to a Westchester County airport late Wednesday in the custody of FBI agents.

    Bankman-Fried, 30, appeared in Manhattan federal court on Thursday, when he was released on $250 million bail after an electronic monitoring bracelet was attached to him and he agreed to live with his parents in Palo Alto, California, while awaiting trial.

    Ellison, the former chief executive of Bankman-Fried’s cryptocurrency hedge fund trading firm, Alameda Research, and Wang, a founder of FTX, the crypto exchange, agreed to testify against Bankman-Fried in connection with their pleas.

    Assistant U.S. Attorney Danielle Sassoon told Abrams during Ellison’s plea Monday afternoon that prosecutors had expected Bankman-Fried to consent to extradition on Monday before there were “some hiccups in the Bahamian courtroom.”

    “We’re still expecting extradition soon, but given that he has not yet entered his consent, we think it could potentially thwart our law enforcement objectives to extradite him if Ms. Ellison’s cooperation were disclosed at this time,” Sassoon told Abrams.

    The judge got assurance from Ellison’s defense lawyer that there was no objection to the request before granting it.

    “Exposure of cooperation could hinder law enforcement officials’ ability to continue the ongoing investigation and, in addition, may affect Mr. Bankman-Fried’s decision to waive extradition in this case,” Abrams said.

    Criminal charges lodged against Bankman-Fried were revealed on Dec. 13, when prosecutors said the entrepreneur began defrauding customers and investors after FTX’s 2019 founding by illegally diverting money to cover expenses, debts and risky trades at Alameda, which was created in 2017.

    At a news conference, Williams called the crimes that enabled Bankman-Fried to make lavish real estate purchases and large political donations “one of the biggest frauds in American history.”

    At her plea, Ellison said since FTX and Alameda collapsed in November, she has “worked hard to assist with the recovery of assets for the benefit of customers and to cooperate with the government’s investigation.”

    “I am truly sorry for what I did. I knew that it was wrong. And I want to apologize for my actions to the affected customers of FTX, lenders to Alameda and investors in FTX,” she said.

    Ellison said she was aware from 2019 through 2022 that Alameda was given access to a borrowing facility at FTX.com that allowed Alameda to maintain negative balances in various currencies.

    She said the practical effects of the arrangement was that Alameda had access to an unlimited line of credit without being required to post collateral and without owing interest on negative balances or being subject to margin calls or liquidation protocols.

    Ellison said she knew that if Alameda’s FTX accounts had significant negative balances in any currency, it meant that Alameda was borrowing funds that FTX’s customers had deposited into the exchange.

    “While I was co-CEO and then CEO, I understood that Alameda had made numerous large illiquid venture investments and had lent money to Mr. Bankman-Fried and other FTX executives,” she said.

    Ellison said she understood that Alameda had financed the investments with short-term and open-term loans worth several billion dollars from external lenders in the cryptocurrency industry.

    She said that when many of those loans were recalled by lenders in June, she agreed with others to borrow several billion dollars from FTX to repay them.

    “I understood that FTX would need to use customer funds to finance its loans to Alameda,” she said. “I also understood that many FTX customers invested in crypto derivatives and that most FTX customers did not expect that FTX would lend out their digital asset holdings and … deposits to Alameda in this fashion.”

    From July to October, Ellison said, she agreed with Bankman-Fried and others to provide misleading financial statements to Alameda’s lenders, including quarterly balance sheets that concealed the extent of Alameda’s borrowing and the billions of dollars in loans that Alameda had made to FTX executives and related parties.

    She said she knew that FTX had not disclosed to its investors that Alameda could borrow unlimited amounts from FTX, putting their assets at risk.

    “I agreed with Mr. Bankman-Fried and others not to publicly disclose the true nature of the relationship between Alameda and FTX, including Alameda’s credit arrangement,” Ellison said.

    During his plea earlier Monday, Wang said that between 2019 and 2022 while working at FTX, he was “directed to and agreed to make certain changes to the platform’s code” to give Alameda special privileges.

    “I did so knowing that others were representing to investors and customers that Alameda had no such special privileges and people were likely investing in and using FTX based in part on those misrepresentations,” he said. “I knew what I was doing was wrong.”

    [ad_2]

    Source link

  • FTX founder Bankman-Fried allowed $250M bond, house arrest

    FTX founder Bankman-Fried allowed $250M bond, house arrest

    [ad_1]

    NEW YORK (AP) — Cryptocurrency entrepreneur Sam Bankman-Fried walked out of a Manhattan courthouse Thursday with his parents after they agreed to sign a $250 million bond and keep him at their California home while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform.

    Assistant U.S. Attorney Nicolas Roos said in federal court that Bankman-Fried, 30, “perpetrated a fraud of epic proportions.” Roos proposed strict bail terms including the $250 million bond — which he said is believed to be the largest federal pretrial bond ever — and house arrest at his parents’ home in Palo Alto.

    An important reason for allowing bail was that Bankman-Fried, who had been jailed in the Bahamas, agreed to be extradited to the U.S., Roos said.

    Reunited with his parents and lawyers inside the courthouse, an apparently silent Bankman-Fried shook the hands of a supporter before heading out the door, where photographers and video crews rushed him until he left in a car.

    Magistrate Judge Gabriel W. Gorenstein agreed to the bond and house arrest, though he required that an electronic monitoring bracelet be affixed to Bankman-Fried before he left the courthouse. Roos had recommended it be attached Friday in California.

    Bankman-Fried was shackled at the ankles when he entered the courtroom in a suit and tie to take a seat between his attorneys. He did not speak during the hearing except to answer the judge. Near its end, he was asked by Gorenstein whether he understood he would face arrest and owe $250 million if he chose to flee.

    “Yes, I do,” Bankman-Fried answered.

    Soon afterward, the hearing ended and Bankman-Fried, his hands in his front pants pockets, was led out by two U.S. marshals. His next court date was scheduled for Jan. 3, when he is to appear before the judge who will preside over the case.

    His bail conditions also require that he not open any new lines of credit, start a business or enter financial transactions larger than $1,000 without the approval of the government or the court.

    The bond was to be secured by the equity in his parents’ home and the signature of them and two other financially responsible people with considerable assets, Roos said. The bail was described as a “personal recognizance bond,” meaning the collateral did not need to meet the bail amount.

    Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition.

    While he was in the air, the U.S. attorney in Manhattan announced that two of Bankman-Fried’s closest business associates had also been charged and on Monday had secretly pleaded guilty.

    Carolyn Ellison, 28, the former chief executive of Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.

    U.S. Attorney Damian Williams said in a video statement that both were cooperating with investigators and had agreed to assist in any prosecution. He warned others who enabled the alleged fraud to come forward.

    “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” he said. “We are moving quickly, and our patience is not eternal.”

    Prosecutors and regulators contend that Bankman-Fried was at the center of several illegal schemes to use customer and investor money for personal gain. He faces the possibility of decades in prison if convicted on all counts.

    In a series of interviews before his arrest, Bankman-Fried said he never intended to defraud anyone.

    Bankman-Fried is charged with using money, illicitly taken from FTX customers, to enable trades at Alameda, spend lavishly on real estate and make millions of dollars in campaign contributions to U.S. politicians.

    FTX, founded in 2019, rode the crypto investing phenomenon to great heights, quickly becoming one of the world’s largest exchanges for digital currency. Seeking customers beyond the tech world, it hired the comic actor and writer Larry David to appear in a TV ad that ran during the Super Bowl, hyping crypto as the next big thing.

    Bankman-Fried’s crypto empire, however, abruptly collapsed in early November when customers pulled deposits en masse amid reports questioning some of its financial arrangements.

    [ad_2]

    Source link

  • FTX founder Bankman-Fried released on $250 million bond

    FTX founder Bankman-Fried released on $250 million bond

    [ad_1]

    Cryptocurrency entrepreneur Sam Bankman-Fried walked out of a Manhattan courthouse Thursday with his parents after they agreed to sign a $250 million bond and keep him at their California home while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform.

    The $250 million bond is believed to be the largest federal pretrial bond ever, said assistant U.S. attorney Nicolas Roos.

    Roos said in U.S. District Court that Bankman-Fried, 30, “perpetrated a fraud of epic proportions.”

    Bankman-Fried’s bail conditions are strict. He has already surrendered his passport and won’t be allowed travel documents, the court said. He cannot own firearms, open any lines of credit or start new businesses, and must seek government approval for any transactions over $1,000.

    Bankman-Fried’s parents, both law professors, put their home’s equity as collateral for the bond. Bankman-Fried will be permitted to leave the Palo Alto home only for exercise or legal proceedings, the court said. The court also mandated that Bankman-Fried undergo mental health and substance abuse treatment. The entrepreneur was required to get an electronic monitoring bracelet before leaving the courthouse.

    Bankman-Fried leaving courthouse
    FTX founder Sam Bankman-Fried leaves court following his extradition to the U.S., Thursday Dec. 22, 2022, in New York. Bankman-Fried’s parents agreed to sign a $250 million bond and keep him at their California home while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform.

    Yuki Iwamura / Associated Press


    Fraud or error?

    Prosecutors agreed to bail because Bankman-Fried did not fight extradition, saving the govenment from a potentially yearslong, drawn-out process, Roos said.

    Reunited with his parents and lawyers inside the courthouse, an apparently silent Bankman-Fried shook the hands of a supporter before heading out the door, where photographers and video crews rushed him as he got into a car and left.

    Bankman-Fried wore a suit and tie in court and sat between his attorneys. Two U.S. marshals sat behind him. Near the end of the hearing, Magistrate Judge Gabriel W. Gorenstein asked Bankman-Fried whether he understood he would face arrest and owe $250 million if he chose to flee.

    “Yes, I do,” Bankman-Fried answered.

    Sam Bankman-Fried is walked in handcuffs to a plane in Nassau
    Sam Bankman-Fried, founder and former CEO of crypto currency exchange FTX, is walked in handcuffs to a plane during his extradition to the United States at Lynden Pindling international airport in Nassau, Bahamas December 21, 2022. 

    RBPF / REUTERS


    His first U.S. court appearance comes after the onetime crypto wunderkind was flown from the Bahamas to the U.S. on Wednesday. Bankman-Fried was arrested earlier this month on charges of wire fraud, conspiracy, money laundering and other financial crimes.

    While he was in the air Wednesday, the U.S. attorney in Manhattan announced that two of Bankman-Fried’s closest business associates had also been charged and had secretly agreed to plea deals.

    Caroline Ellison, 28, the former chief executive of Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.

    U.S. Attorney Damian Williams said in a video statement that both were cooperating with investigators and had agreed to assist in any prosecution. He warned others who enabled the alleged fraud to come forward.

    “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” he said. “We are moving quickly, and our patience is not eternal.”

    Possibility of decades in prison

    Prosecutors and regulators contend that Bankman-Fried was at the center of several illegal schemes to use customer and investor money for personal gain. He faces the possibility of decades in prison if convicted on all counts.

    In a series of interviews before his arrest, Bankman-Fried said he made mistakes running FTX and Alameda but that he never intended to defraud anyone.


    Binance faces concerns about crypto market following FTX collapse

    06:42

    Bankman-Fried is charged with using money, illicitly taken from FTX customers, to enable trades at Alameda, spend lavishly on real estate, and make millions of dollars in campaign contributions to U.S. politicians.

    FTX, founded in 2019, rode the crypto investing phenomenon to great heights quickly, becoming one of the world’s largest exchanges for digital currency. Seeking customers beyond the tech world, it hired the comic actor and writer Larry David to appear in a TV ad that ran during the Super Bowl, hyping crypto as the next big thing.

    Bankman-Fried’s crypto empire, however, abruptly collapsed in early November when customers pulled deposits en masse amid reports questioning some of its financial arrangements.

    CBS News’ Lilia Luciano contributed reporting.

    [ad_2]

    Source link

  • FTX founder Bankman-Fried allowed $250M bond, house arrest

    FTX founder Bankman-Fried allowed $250M bond, house arrest

    [ad_1]

    NEW YORK — Cryptocurrency entrepreneur Sam Bankman-Fried walked out of a Manhattan courthouse Thursday with his parents after they agreed to sign a $250 million bond and keep him at their California home while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform.

    Assistant U.S. Attorney Nicolas Roos said in federal court that Bankman-Fried, 30, “perpetrated a fraud of epic proportions.” Roos proposed strict bail terms including the $250 million bond — which he said is believed to be the largest federal pretrial bond ever — and house arrest at his parents’ home in Palo Alto.

    An important reason for allowing bail was that Bankman-Fried, who had been jailed in the Bahamas, agreed to be extradited to the U.S., Roos said.

    Reunited with his parents and lawyers inside the courthouse, an apparently silent Bankman-Fried shook the hands of a supporter before heading out the door, where photographers and video crews rushed him until he left in a car.

    Magistrate Judge Gabriel W. Gorenstein agreed to the bond and house arrest, though he required that an electronic monitoring bracelet be affixed to Bankman-Fried before he left the courthouse. Roos had recommended it be attached Friday in California.

    Bankman-Fried was shackled at the ankles when he entered the courtroom in a suit and tie to take a seat between his attorneys. He did not speak during the hearing except to answer the judge. Near its end, he was asked by Gorenstein whether he understood he would face arrest and owe $250 million if he chose to flee.

    “Yes, I do,” Bankman-Fried answered.

    Soon afterward, the hearing ended and Bankman-Fried, his hands in his front pants pockets, was led out by two U.S. marshals. His next court date was scheduled for Jan. 3, when he is to appear before the judge who will preside over the case.

    His bail conditions also require that he not open any new lines of credit, start a business or enter financial transactions larger than $1,000 without the approval of the government or the court.

    The bond was to be secured by the equity in his parents’ home and the signature of them and two other financially responsible people with considerable assets, Roos said. The bail was described as a “personal recognizance bond,” meaning the collateral did not need to meet the bail amount.

    Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition.

    While he was in the air, the U.S. attorney in Manhattan announced that two of Bankman-Fried’s closest business associates had also been charged and on Monday had secretly pleaded guilty.

    Carolyn Ellison, 28, the former chief executive of Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.

    U.S. Attorney Damian Williams said in a video statement that both were cooperating with investigators and had agreed to assist in any prosecution. He warned others who enabled the alleged fraud to come forward.

    “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” he said. “We are moving quickly, and our patience is not eternal.”

    Prosecutors and regulators contend that Bankman-Fried was at the center of several illegal schemes to use customer and investor money for personal gain. He faces the possibility of decades in prison if convicted on all counts.

    In a series of interviews before his arrest, Bankman-Fried said he never intended to defraud anyone.

    Bankman-Fried is charged with using money, illicitly taken from FTX customers, to enable trades at Alameda, spend lavishly on real estate and make millions of dollars in campaign contributions to U.S. politicians.

    FTX, founded in 2019, rode the crypto investing phenomenon to great heights, quickly becoming one of the world’s largest exchanges for digital currency. Seeking customers beyond the tech world, it hired the comic actor and writer Larry David to appear in a TV ad that ran during the Super Bowl, hyping crypto as the next big thing.

    Bankman-Fried’s crypto empire, however, abruptly collapsed in early November when customers pulled deposits en masse amid reports questioning some of its financial arrangements.

    [ad_2]

    Source link

  • FTX founder Bankman-Fried to make 1st US court appearance

    FTX founder Bankman-Fried to make 1st US court appearance

    [ad_1]

    NEW YORK — The cryptocurrency entrepreneur Sam Bankman-Fried was expected to make his initial U.S. court appearance Thursday on charges that he swindled investors and looted customer deposits on his FTX trading platform.

    Bankman-Fried, arrested in the Bahamas last week, was flown to New York late Wednesday after deciding not to challenge his extradition.

    While he was in the air, the U.S. attorney in Manhattan announced that two of Bankman-Fried’s closest business associates had also been charged and had secretly pleaded guilty.

    Carolyn Ellison, 28, the former chief executive of Bankman-Fried’s trading firm, Alameda Research, and Gary Wang, 29, who co-founded FTX, pleaded guilty to charges including wire fraud, securities fraud and commodities fraud.

    U.S. Attorney Damian Williams said in a video statement that both were cooperating with investigators and had agreed to assist in any prosecution. He warned others who enabled the alleged fraud to come forward.

    “If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it,” he said. “We are moving quickly, and our patience is not eternal.”

    Prosecutors and regulators contend that Bankman-Fried, 30, was at the center of several illegal schemes to use customer and investor money for personal gain. He faces the possibility of decades in prison if convicted on all counts.

    In a series of interviews before his arrest, Bankman-Fried said he never intended to defraud anyone.

    Bankman-Fried is charged with using money, illicitly taken from FTX customers, to enable trades at Alameda, spend lavishly on real estate, and make millions of dollars in campaign contributions to U.S. politicians.

    FTX, founded in 2019, rode the crypto investing phenomenon to great heights quickly, becoming one of the world’s largest exchanges for digital currency. Seeking customers beyond the tech world, it hired the comic actor and writer Larry David to appear in a TV ad that ran during the Super Bowl, hyping crypto as the next big thing.

    Bankman-Fried’s crypto empire, however, abruptly collapsed in early November when customers pulled deposits en masse amid reports questioning some of its financial arrangements.

    [ad_2]

    Source link

  • Lawyer: Man charged in NYC subway shooting plans guilty plea

    Lawyer: Man charged in NYC subway shooting plans guilty plea

    [ad_1]

    NEW YORK — A man charged with wounding 10 people when he fired a gun into a crowded Brooklyn subway car earlier this year has told his lawyers he’d like to plead guilty next month.

    Frank James, 63, wants to plead guilty in the first week of January, the attorneys said in a letter Wednesday to U.S. District Judge William F. Kuntz II, who is overseeing the case, in Brooklyn.

    The revelation by defense lawyers on the letterhead of the Federal Defenders of New York came just a day after the defense team had requested an adjournment of a trial set for late February. The lawyers said extra time was needed to review evidence and because prosecutors weeks ago updated the indictment with new charges.

    Prosecutors opposed a delay to the trial, saying gunshot victims deserved to see justice carried out without reasonable delay.

    James has been held in a federal jail in Brooklyn since his arrest after the April 12 attack on a subway car packed with morning commuters.

    A spokesperson for the federal prosecutor in Brooklyn declined comment.

    Authorities said James fired random scattered shots in the train. He had posted dozens of online videos ranting about race, violence and his struggles with mental illness.

    The shooting occurred a month before a gunman shot and killed a passenger on a moving New York City subway train as it went over the Manhattan bridge.

    [ad_2]

    Source link