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Notices tagged with crime
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#FTX co-CEO reported that customer funds were being transferred to sister company Alameda Research. https://nu.federati.net/url/288939 [cointelegraph com]
#crime #fraud #cryptocurrency #sbf #bahamas #sec
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https://www.politico.com/news/2022/12/12/ftx-founder-bankman-fried-arrested-in-the-bahamas-00073597 [www politico com] #FTX #cryptocurrency exchange ex-CEO arrested.
> Bankman-Fried’s arrest comes the night before he was scheduled to testify remotely in front of the House Financial Services Committee, which is investigating the collapse of his multibillion-dollar crypto empire. Bankman-Fried — who until early November was the toast of Washington policy circles — has faced mounting allegations that he misused FTX customer assets to prop up his investment firm Alameda Research.
> In prepared testimony for House Financial Services, the company’s new CEO John Ray III, wrote that Alameda used client funds to engage in margin trading, exposing customers to massive losses.
> "[T]he FTX Group’s collapse appears to stem from the absolute concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a company that is entrusted with other people’s money or assets,” Ray, who stepped in as the bankrupt cryptocurrency exchange’s top executive last month, wrote in prepared Congressional testimony on the exchange’s collapse.
If he was going to try to follow #Wells_Fargo's example, he needed to follow it more closely. I recently posted a link to angryretailbanker's article where they described why they didn't believe WF's top managers should be jailed. (I personally disagree about Wells Fargo management, simply because if you see the same misbehavior sprout up at the same time across the whole organization, it generally means one person or group with supervision over the entire group ordered or suggested it ... often off-the-record, so you'd have to actually investigate to find enough evidence to convict.)
#cryptocurrency #finance #crime #fraud #theft
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The city of Stockton in Central #California, population 300K,appears to have a serial killer at work. https://nu.federati.net/url/288005 [ktla com] #crime
It used to be that this stuff only happened in or near large cities 🏙. Now, cow 🐄 towns like Stockton have this also.
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#Crime: Attempted carjacking N of Azusa https://www.sgvtribune.com/2018/03/27/2-shot-during-azusa-carjacking/ #SoCal
We used to go up Hwy 39 to cool off in one of the forks of the San Gabtiel River when I was a kid.
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One man's fight against bottom-feeder #debt_collection agencies https://nu.federati.net/url/93422 (via Daniel on #Cupcake / #Tent)
#scam #crime #debt #credit
LinuxWalt (@lnxw48a1) {3EB165E0-5BB1-45D2-9E7D-93B31821F864}
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