FTX called itself an exchange. But it was vastly different from stock exchanges, which are highly regulated and barred from engaging in many of the activities FTX pursued.
Category: Frauds and Swindling
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Help! My Pricey Travel Credit Card Wouldn’t Work When I Traveled
A Chase card with an annual fee of $550 is touted as handy for going abroad. But on a recent trip outside the U.S., it was declined at every stop. Is there any protection from fraud protection?
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Sam Bankman-Fried and Schlubby Style
Sam Bankman-Fried’s choices may signal an end to the schlubby mystique.
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Prosecutors Charge that FTX Was Engaged in Fraud from the Beginning
A criminal indictment unsealed on Tuesday and a complaint by the S.E.C. describe years of wrongdoing in Sam Bankman-Fried’s crypto empire.
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S.E.C. Charges Sam Bankman-Fried With Defrauding FTX Investors
The founder of the collapsed crypto exchange was accused of “orchestrating a scheme to defraud equity investors” who put more than $1.8 billion into the company.
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Ramesh Balwani, No. 2 Theranos Executive, Is Sentenced for Fraud
Ramesh Balwani, the former chief operating officer of the failed blood testing start-up, was convicted of 12 counts of fraud in July.
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Two Fintech Companies Fueled Extensive PPP Loan Fraud, House Report Finds
Executives at Womply and Blueacorn, which facilitated millions of Paycheck Protection Program loans, flouted rules and themselves collected improper loans, investigators said.
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Zelle Fraud Victims Are in Line to Receive Reimbursements
A rule change planned for early next year would shift liability for some losses onto the banks, not their customers.
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The Week in Business: FTX’s Collapse
The turmoil at Twitter continues. The holiday shopping season officially begins, although retailers have already been running sales. And the Fed releases the minutes from its last meeting.