Connect with us
https://tickernews.co/wp-content/uploads/2023/10/AmEx-Thought-Leaders.jpg

News

Sam Bankman-Fried appeals fraud conviction, 25-year sentence

Published

on

Sam Bankman-Fried, the founder of the now-bankrupt cryptocurrency exchange FTX, has initiated an appeal against his federal fraud and conspiracy conviction, as well as the 25-year prison sentence handed down to him.

Bankman-Fried’s legal team filed a notice of appeal on Thursday, marking a formal step in his legal battle following the sentencing in U.S. District Court in Manhattan two weeks ago.

The entrepreneur was also ordered to forfeit $11 billion in connection with what prosecutors labeled as one of the largest financial frauds in history.

The appeal process will proceed before a three-judge panel of the 2nd Circuit U.S. Court of Appeals based in Manhattan.

READ MORE – FTX deep fake goes viral

However, statistics suggest the challenges ahead for Bankman-Fried, as federal criminal defendants historically win reversals in fewer than 10% of appeals.

Should he fail at the 2nd Circuit level, Bankman-Fried’s legal recourse would involve petitioning the U.S. Supreme Court, a path fraught with even greater uncertainty.

Customer funds

Bankman-Fried, aged 32, was convicted on seven counts of fraud and conspiracy related to the misappropriation of approximately $10 billion in customer funds.

Prosecutors asserted that he orchestrated a scheme diverting customer funds for investments, political contributions, personal expenses, and loan repayments.

Upon sentencing, Judge Lewis Kaplan expressed concerns about Bankman-Fried’s potential future actions, remarking, “There is a risk that this man will be in a position to do something very bad in the future.” Kaplan noted Bankman-Fried’s apparent lack of remorse for his actions.

Bankman-Fried has maintained his innocence, attributing FTX’s financial troubles to a purported “liquidity crisis” or “mismanagement.”

Notably, four other senior executives from FTX and Alameda Research had previously pleaded guilty.

Ryan Salame, one of them, is slated for sentencing on May 28.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

News

Trump escalates pressure on the Federal Reserve with Powell probe

Trump administration investigates Fed Chair Powell, raising concerns over political pressure on monetary policy and economic stability.

Published

on

Trump administration investigates Fed Chair Powell, raising concerns over political pressure on monetary policy and economic stability.


The Trump administration has launched a criminal investigation into Federal Reserve Chair Jerome Powell, dramatically escalating tensions between the White House and the central bank.

The probe centres on Powell’s testimony over a controversial renovation of the Federal Reserve’s headquarters, raising alarm over whether political pressure is being applied to monetary policy decisions.

The move has sparked fierce debate in Washington, with critics warning it could undermine investor confidence and destabilise economic expectations.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#FederalReserve #JeromePowell #DonaldTrump #USPolitics #MonetaryPolicy #Markets #Inflation #TickerNews


Download the Ticker app

Continue Reading

News

Iran at a crossroads as White House weighs nuclear talks and military action

White House considers Iranian nuclear talks proposal amid rising tensions, balancing military options with diplomacy.

Published

on

White House considers Iranian nuclear talks proposal amid rising tensions, balancing military options with diplomacy.


The White House is considering an Iranian proposal to restart nuclear talks, opening the door to a possible diplomatic breakthrough after months of rising tension. The move signals that negotiations may still be on the table, even as uncertainty dominates Washington’s next steps.

President Trump has indicated talks could be on the horizon, but he is also openly weighing strong military options. That dual-track approach highlights the high stakes of the moment and the pressure on US leadership to balance deterrence with dialogue.

Trump is expected to meet with senior aides to discuss strategy and decide the best course of action on Iran, as global markets and allies closely watch every signal coming from the administration.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#Iran #WhiteHouse #USPolitics #NuclearTalks #Trump #Geopolitics #GlobalTensions #TickerNews


Download the Ticker app

Continue Reading

News

Sendle shuts down, small businesses left scrambling

Sendle’s sudden closure leaves small businesses reeling as they scramble for shipping solutions

Published

on

Sendle’s sudden closure leaves small businesses reeling as they scramble for shipping solutions

video
play-sharp-fill
In Short:
– Sendle has unexpectedly ceased operations, leaving small businesses without courier services and cancelled pickups.
– Customers are frustrated and searching for alternatives, while competitor firms are reaching out to fill the gap.
Aussie courier service Sendle has ceased operations unexpectedly, affecting many small businesses that relied on its services. Announced via email on January 11, the company warned customers that existing parcels would be delivered at the “discretion of the delivery partner.”
Additionally, all scheduled pickups from January 12 were cancelled.

Customers have been left confused and frustrated, lacking guidance on how to fulfill orders.

Sendle expressed regret for the disruption but did not provide a detailed explanation for the closure. A banner on their website confirmed the halt in services, with social media accounts disabled and customer inquiries no longer being monitored.

Banner

The shutdown comes as Sendle had recently merged with US logistics firms to create FAST Group, but that merger has now reportedly unraveled due to financial issues.

Small business owners, many of whom had turned to Sendle for better pricing compared to competitors like Australia Post, are now scrambling to find alternative delivery options.

Unexpected Closure

Many business owners shared their experiences on social media, highlighting the immediate need to find new courier services. One owner reported significant losses and mentioned having to repackage orders that were scheduled for shipment.

The collapse of Sendle has raised concerns about job losses, though the company has not disclosed the number of affected employees.

Competitors have begun reaching out to small businesses in response to the demand created by Sendle’s sudden exit from the market.

Aramex Australia says it “is aware that Sendle has halted all bookings for parcel pick-ups and deliveries in Australia with immediate effect. Aramex recognises that this development may create uncertainty for businesses that rely on Sendle to ship their goods.”

“While Aramex cannot comment on the specific circumstances surrounding Sendle’s operations, we are ready to support e-comm and B2B businesses that are seeking an alternative courier partner moving forward. Aramex has the infrastructure, global network, national coverage and local franchise expertise in place to assist customers who need ongoing delivery services without disruption. Our priority is providing certainty, reliability and continuity of service for Australian businesses.”

“Sendle is a tech platform that has enabled business customers to book courier services. Aramex has a long history of delivering for Sendle customers. Aramex operations continue as normal, providing reliable courier services to our customers.”


Download the Ticker app

Continue Reading

Trending Now