SBF found guilty on all 7 charges of fraud
These charges carry a maximum sentence of 110 years. Mr. Bankman-Fried’s sentencing is set for March 28. The FTX founder became a symbol of crypto’s excesses last year, when his company collapsed and he was charged with stealing as much as $10 billion from customers to finance political contributions, venture capital investments and other extravagant spending.
https://www.nytimes.com/live/2023/11/02/business/sam-bankman-fried-trial/heres-the-latest-on-the-trial?smid=url-share
Grub96
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a year ago
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News Discussion on
by 3xPlusOne
Binance founder Changpeng Zhao sentenced to four months in prison
Zhao, who began the run on FTX that eventually revealed fraud at the exchange, pleaded guilty to breaking laws himself.
https://www.theverge.com/2024/4/30/24140638/binance-founder-changpeng-zhao-sentence-money-laundering
News Discussion on
by WryExile38
Swiggy
Personal opinion: He should get the full 100+ years in jail
Legal experts compared the convicted FTX fraudster's case to that of Bernie Madoff, who got sentenced to 150 years in prison.
https://www.cnbc.com/2023/11/04/sam-bankman-fried-sentence-could-be-100-plus-years-or-mere-decades.html
Indian Startups on
by AlphaGrindset
Series A Startup
India's youngest billionaire: Pearl Kapur
Started a company in 2023 and already valued at $1.1Bn 🚀 Company is called Zyber365. Never heard of it? Have a better GK. Raised Series A from Sram & Mram Group of $100Mn. Sram & Mram is a Tier 0.5 investor. Remember 5ire? That random Web 3 company that had become a unicorn out of nowhere? Same investor. The company currently has zero products to offer and claims to build a suite of products in the next three years. Long term thinking 💪🏻💪🏻💪🏻 Is this some kind of money laundering scheme? Smells like a scam!
Pearl Kapur has a net worth of $1.1 billion (approximately Rs 9,129 crore) and commands a majority share of the 90 per cent in Zyber 365, wh...
https://www.moneycontrol.com/news/trends/who-is-pearl-kapur-the-27-year-old-who-built-company-worth-rs-9800-crore-12235951.html