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Bankman-Fried to testify at his US crypto trial
Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, plans to make another high-stakes gamble and testify in his defense on Thursday at his criminal fraud trial. Bankman-Fried's decision to take the stand comes after three weeks of devastating testimony for the 31-year-old known as SBF, who has been accused of stealing billions of dollars from clients. His lawyer, Mark Cohen, told Judge Lewis Kaplan he expected Bankman-Fried's testimony to last for four or five hours. He is expected to begin around 2:00 p.m. (1800 GMT). Prosecutors were wrapping up their case on Thursday and handing it over to the defense, which said it plans to call four witnesses, including Bankman-Fried. Bankman-Fried, once one of the most respected figures in crypto, has been charged with seven counts of fraud, embezzlement, and criminal conspiracy. If convicted, he could face a de facto life sentence of more than 100 years in prison. The Massachusetts Institute of Technology graduate had, in just a few years, turned his FTX platform into the world's second-biggest crypto exchange -- making him a tech-world billionaire wunderkind. But his empire began to crumble last November when a news report pointed to unhealthy ties between FTX and Alameda Research, Bankman-Fried's personally owned trading company. Amid growing revelations, major investors pulled their money out of FTX, sinking it swiftly into bankruptcy. Some $8.7 billion was still unaccounted for after the dust settled, according to the receiver appointed to manage the liquidation. Bankman-Fried has denied taking other people's money, blaming former colleagues for the situation. But key witnesses in recent weeks, all former FTX or Alameda employees, refuted his account. Supported by internal documents compiled by the prosecution, they said he was behind the breaches and did not lose sight of the financial situation of FTX and Alameda. Ex-girlfriend offers evidence Among those taking the stand was Caroline Ellison, Bankman-Fried's former business partner and girlfriend. She offered conclusive evidence against him and delivered details on his management, saying he was involved in all major decisions. Ellison, a Stanford University mathematics graduate, was appointed by Bankman-Fried in 2021 to head Alameda, whose activities were largely financed by money from customers of FTX without their knowledge. She has pleaded guilty to fraud charges and agreed to cooperate with the prosecution, as have two other close associates of Bankman-Fried. Bankman-Fried's decision to testify in his defense is unusual in a country where criminal defendants generally decline to do so because they have to face cross-examination and run the risk of incriminating themselves. Hollywood producer Harvey Weinstein, comedian Bill Cosby, singer R. Kelly, and drug trafficker Joaquin "El Chapo" Guzman were among high-profile defendants who declined to testify at their recent trials. A Cornell University study of hundreds of trials published in 2009 found that 77 percent of defendants who chose to testify were convicted while 72 percent of those who declined to take the stand were found guilty. The post Bankman-Fried to testify at his US crypto trial appeared first on Daily Tribune......»»
Suit charges crypto firms with billion-dollar fraud
New York's attorney general on Thursday filed a lawsuit accusing cryptocurrency firms Gemini and Genesis with fraud that wound up costing investors more than a billion dollars. Gemini Trust Company, created by twin brothers Tyler and Cameron Winklevoss of early Facebook fame, misled investors about the risk of putting money into a program that involved loans that at one point were concentrated in Sam Bankman-Fried’s Alameda research trading firm, according to the suit. "Investors around the country lost more than a billion dollars because they were fed blatant lies that their money would be safe and grow if they invested it in Gemini Earn," New York attorney General Letitia James said in a release. Gemini offered people the chance to lend cryptocurrencies in exchange for high returns via a Gemini Earn program, according to the suit. Those loans included some to digital currency services platform Genesis, which in turn lent cryptocurrency to other players in the industry. But the bankrupcy of Bankman-Fried's Alameda Research and its FTX platform last year triggered panic in the market. Bankman-Fried is currently on trial in New York, facing fraud charges of his own. Unable to honor massive withdrawal requests, Genesis filed for bankruptcy in January. "Gemini hid the risks of investing with Genesis and Genesis lied to the public about its losses," James said. According to documents published at that time, Gemini loans to Genesis tallied some $765 million. Gemini was founded by the Winklevoss twins, who were made famous by the film "The Social Network" about the birth of Facebook. In a post at X, formerly known as Twitter, Gemini contended that the lawsuit confirms that the exchange and its users were "victims of a massive fraud and systematically lied to" by Genesis. "Blaming a victim for being defrauded and lied to makes no sense and we look forward to defending ourselves against this inconsistent position," Gemini said in the post. James accused Gemini of deceiving more than 230,000 investors. Her lawsuit also argues that former Genesis chief executive Soichiro Moro and Genesis parent company DCG with trying to conceal the massive losses. The litigation seeks to have Gemini, Genesis and DCG banned from New York's financial investment industry and pay restitution to investors who lost money. DCG defended itself in a post at X, saying it did nothing illegal. "I am shocked by the baseless allegations in the attorney general's complaint and intend to fight these claims in court," DCG founder and chief executive Barry Silbert said in the post. The post Suit charges crypto firms with billion-dollar fraud appeared first on Daily Tribune......»»
Drones attack U.S. forces in Iraq
Drones attacked American and coalition forces in Iraq in the last 24 hours but all unmanned aerial vehicles were shot down with troops suffering only minor injuries. The United States Central Command reported the attacks Wednesday but did not say the source of the drones. Pro-Iranian forces have threatened to attack American troops in Iraq because of Washington’s support for Israel in its war with Hamas. “In western Iraq, US forces engaged two drones, destroying one and damaging the second, resulting in minor injuries to coalition forces. Separately in northern Iraq, US forces engaged and destroyed a drone, resulting in no injuries or damage,” CENTCOM said. There are around 2,500 American soldiers and a thousand troops from other members of the anti-Islamic State coalition in Iraq in a training and advisory role, after the official end of their combat mission in December 2021. A US defense official said earlier on Wednesday that two “one-way drones” had been downed when they attempted to attack American and coalition forces in Iraq, while Kurdish counter-terrorism forces said in a statement that an explosives-laden drone had crashed Wednesday in the Arbil governorate in the country’s north. The drone shootdowns came a day after a strike on a hospital in Gaza left hundreds dead, with Hamas blaming Israel, which in turn said another Palestinian armed group was responsible. Hamas launched a surprise assault inside Israel on 7 October, killing more than 1,400 people, mostly civilians, and taking hostages back into Gaza. After Israel declared war and began retaliatory strikes, nearly 3,500 people have been killed in the Gaza Strip, mostly civilians as well, according to Hamas health authorities. Pro-Iranian factions in Iraq have accused Israel and the US of carrying out a “massacre” in Gaza, with one of them — the powerful Ketaeb Hezbollah group — demanding that American forces leave Iraq or face attack. The post Drones attack U.S. forces in Iraq appeared first on Daily Tribune......»»
Trump charged with deleting home camera footage
A new indictment against former United States president Donald Trump lends weight to earlier charges that he allegedly mishandled top-secret documents. The new charge unsealed by federal prosecutors on Thursday alleged that he conspired with his personal aide and a new defendant to delete surveillance footage at his Mar-a-Lago property in Florida in an alleged attempt to cover up illegal possession of classified papers. The new charges came the same day Trump said his lawyers met with Justice Department officials ahead of a separate expected indictment over his alleged efforts to overturn the result of the 2020 election in which he lost to President Joe Biden. The twice-impeached former president was first indicted in the classified documents case last month, accused of endangering national security by holding on to top secret nuclear and defense information after leaving the White House. Trump kept the files — which included records from the Pentagon, Central Intelligence Agency and National Security Agency — unsecured at his home and thwarted official efforts to retrieve them, according to the indictment. Thursday’s superseding indictment accuses the billionaire of acting with his co-defendant in the case, personal aide Waltine “Walt” Nauta, and property manager Carlos de Oliveira, to delete security camera footage at Mar-a-Lago. The fresh charges add to the existing counts of “willful retention of national defense information” and charges of conspiracy to obstruct justice, making false statements and other offenses to which Trump pleaded not guilty last month. It also adds an extra count under the Espionage Act related to Trump allegedly retaining a classified document “concerning military activity in a foreign country.” According to the indictment, citing an audio recording of the interaction, Trump in 2021 allegedly told visitors of his New Jersey golf club of the defense document, “’As president I could have declassified it,’ and ‘Now I can’t, you know, but this is still a secret.’” Trump Thursday night dismissed the new accusations as “ridiculous” during an interview with Fox News Digital. “It’s election interference at the highest level,” he said, blaming his potential campaign opponent Biden and the Justice Department for “prosecutorial misconduct.” The front-runner in the 2024 Republican presidential primary is set to go on trial as the election heats up in May of next year. WITH AFP The post Trump charged with deleting home camera footage appeared first on Daily Tribune......»»
Rouhani claims Israel killed Iran& rsquo;s scientist
Iran’s President Hassan Rouhani Saturday accused arch-foe Israel of acting as a “mercenary” for the US, blaming the Jewish state for assassinating one of Tehran’s most prominent nuclear scientists......»»
TNT governor Vargas calls Baldwin’s apology a little bit insincere
PBA chairman Ricky Vargas is not buying the reason of Tab Baldwin for his controversial statements about the league. The TNT governor, speaking about the issue for the first time, said that he had accepted the apology of the embattled Ateneo de Manila University coach. “Nag-apologize si Tab eh. He apologized to me privately. I have accepted the apology,” said Vargas during the online session of the Philippine Sportswriters Association Forum on Tuesday. But Vargas felt that it was a ‘bit insincere’ as Baldwin clarified that the statements he said during his appearance in the Coaches Unfiltered podcast last June 11 were taken out of context. “Ang impact sa akin nu’ng comment niya na ‘taken out of context’ after the apology he made was a little bit insincere,” said Vargas in the Forum presented by San Miguel Corporation, Go For Gold PH, Amelie Hotel Manila, Braska Restaurant, and the Philippine Amusement and Gaming Corporation (PAGCOR) and powered by Smart. Baldwin, who is also the Samahang Basketbol ng Pilipinas program director, drew flak from the league after his comments on local coaches’ tactical immaturity, calling the PBA single-import conference a big mistake and accused referees of giving imports an advantage in officiating. The American-Kiwi mentor clarified that he was just talking about his first impression of basketball in the country but was taken out of context. “It was sort of saying I apologize but I was taken out of context so it tended to push to blaming others,” said Vargas. Baldwin already apologized to the league after his comments drew a firestorm affecting the professional and collegiate ranks. Some agreeing with his commentaries while some took offense of his observations. “The consequence of that statement ‘taken out of context’ became more divisive,” Vargas said. Baldwin was slapped with a P75,000 fine and a three-game suspension by the league two weeks ago. TNT also last Thursday relieved Baldwin of his post as KaTropa’s consultant and assistant coach. --- Follow this writer on Twitter, @fromtheriles .....»»
Mommy Dionisia, Mike Yamson 10 years nang magdyowa: Thank you, Lord!
SAMPUNG taon nang magkarelasyon ngayon ang nanay ni Manny Pacquiao na si Mommy Dionisia Pacquiao at ang boyfriend niyang si Mike Yamson. Yes, yes, yes mga ka-Marites! Ten years nang magdyowa ang dalawa at in fairness, going strong pa rin ang relasyon at mas lalo pa raw nagiging solid sa paglipas ng panahon. Twenty-seven years.....»»
DMK criticises Election Commission for being biassed in allocating symbols to political parties
Chennai (Tamil Nadu) [India], March 28 (ANI): The Deputy Secretary of the Student Wing of Dravida Munnetra Kazhagam (DMK), Ka Amutharasan, has accused the Election Commission of India (ECI) of having a biassed attitude towards opposition parties by allocating election symbols as per their wishes. "ECI has allocated the symbols for the Tamil Manila Congress and Amma Makkal Munnetra Kazhgam that those parties wished for. Th.....»»
Milk tariff collections rise by 31% to P2.4 billion
Revenues raised by the government from various imported milk products jumped by 31 percent to P2.36 billion in 2023, the highest in at least eight years, from P1.8 billion in 2022......»»
Israel bombs Gaza, fights Hamas around hospitals
Israeli forces pounded besieged Gaza on Wednesday and fought Hamas around several hospitals, despite a UN Security Council demand for a ceasefire. Talks in Qatar towards a truce and hostage release deal involving US and Egyptian mediators have brought no result so far, with Israel and the Palestinian militant group blaming each other. READ: Israel.....»»
FOCAP condemns Chinese embassy’s claims on ‘manipulated’ West Philippine Sea videos
The Foreign Correspondents Association of the Philippines strongly rejected and condemned yesterday China’s “false and baseless” claims that journalists manipulate videosthey recorded in the South China Sea to present the Philippines as a victim......»»
Danao City ‘gun maker’ nabbed in raid
CEBU CITY, Philippines – A 39-year-old man, who was accused of the illegal manufacture of guns, was arrested in a raid in his residence in Sitio Sapangdako, Barangay Matija, Danao City in northern Cebu, Tuesday dawn, March 26. In a report, the Cebu Police Provincial Office (CPPO) said that the raid was based on a.....»»
Criminal raps filed vs dog Killua’s killer
Criminal complaints were filed on Monday against a man accused of killing Golden Retriever “Killua” in Camarines Sur......»»
Red carpet to be rolled out for FIVB world meet
The Philippines will leave no stone unturned for the FIVB Volleyball Men’s World Championships 2025 – in terms of hosting the event for the first time ever and competing anew after 50 long years......»»
Philippines FDI ‘bound to improve’ in coming years – HSBC
The Philippines would be able to attract more foreign direct investments (FDI) in the coming years amid reforms that improved the country’s business climate, HSBC Global Research said......»»
Missing man found dead in Barangay Bonbon
CEBU CITY, Philippines — A 50-year-old man who had been missing for two weeks was found dead in Sitio Golivas, Barangay Bonbon, Cebu City. The victim was identified as Adriano Fuentes Durano, a resident of Kiniasan, Barangay Bonbon, Cebu City. Police Major Philip John Libres, chief of Malubog Police Community Precinct, stated that on Tuesday.....»»
‘Serenade of the Seas’ arrival restarts Subic cruise tourism program
The arrival here of GTS Serenade of the Seas, a 12-decker cruise liner operated by Royal Caribbean International, is expected to resurrect Subic’s cruise tourism program, which had gained momentum before being halted by the COVID-19 pandemic three years ago......»»
Philippines vows hosting readiness for men’s volleyball world championship
The Philippines assured to leave no stone unturned in the FIVB Volleyball Men’s World Championships 2025 — in terms of hosting for the first time ever and competing anew after 50 long years......»»
The Daily Guardian: Windows feature left unupdated for 30 years
Microsoft’s Windows 11 still features a dialog box that was created almost 30 years ago, revealing the fascinating story behind its origin. Dave Plummer, a.....»»
'There s today momentum in India which has to be experienced to be believed': Jaishankar in Singapore
Singapore, March 23 (ANI): External Affairs Minister S Jaishankar on Saturday said there's today momentum in India which has to be experienced to be believed and the country is going to be a much bigger economy in the coming years. Jaishankar, who reached Singapore earlier today as part of his three-nation visit, said apart from increase in ease of living and ease of doing business, India is ramping up its infrastructure.....»»