City Brooklyn Financial News

FTX co-founder Sam Bankman-Fried is seeking temporary release from jail in order to work on his defense with his lawyers at the federal courthouse in Manhattan. 

Seven days following the Department of Justice's bail revocation for disgraced FTX founder Sam Bankman-Fried, he is now seeking permission to spend five weekdays outside to collaborate with his legal team on his defense case.

The body of a nine-year-old boy was found in a waterway in Brooklyn, N.Y., after he disappeared from his family’s side during a trip to a nearby IKEA store on Wednesday.

Prosecutors say they'll use testimony from FTX founder Sam Bankman-Fried's “trusted inner circle” of former executives at his collapsed cryptocurrency empire against him at an October trial

By Luc Cohen

The legal team defending Sam Bankman-Fried (SBF) against criminal charges has requested a federal judge allow the former FTX CEO to have access to antidepressants while in jail.

Sam Bankman-Fried, the indicted founder of bankrupt cryptocurrency exchange FTX, needs access to medications to treat depression and attention deficit hyperactive disorder (ADHD) while jailed ahead of his fraud trial, his lawyers said on Monday. In a letter, Bankman-Fried's lawyers asked US District Judge Lewis Kaplan to order the Metropolitan Detention Center (MDC) in Brooklyn to ensure their client has a daily Emsam skin patch for depression and three or four doses a day of Adderall for ADHD.

TikTok live when a small cartoon hot dog flashes up on the side of the screen. “Thank you for the glizzy. Bing bong,” Crystal Alana Bennett says to the fan who had just spent the equivalent of 7 cents to send her a virtual frankfurter, known as a “glizzy” in internet speak, prompting her sing-song acknowledgment of the gift.

FTX co-founder Sam Bankman-Fried is in custody after a federal judge said that the embattled crypto mogul likely tried to tamper with two witnesses while on bail. 

In a complaint filed in Brooklyn federal court, the watchdog charged Hart (aka Richard Schueler) and three unincorporated entities that he controls - Hex, PulseChain, and PulseX - with conducting the unregistered offerings. According to the complaint, Heart began marketing Hex in 2018, claiming it was the first high-yield “blockchain certificate of deposit,” and began promoting tokens as an investment designed to make people “rich.” Heart and Hex allegedly offered and sold Hex tokens in an unregistered offering, collecting more than 2.3 million Ethereum, including through so-called “recycling” transactions that enabled Heart to surreptitiously gain control of more Hex tokens.

A body found in Brooklyn’s Newtown Creek was identified as a Goldman Sachs Group Inc. analyst who went missing over the weekend, the New York Police Department said.

A senior analyst with Goldman Sachs vanished over the weekend after attending a concert in New York City.

By Jonathan Stempel

In a complaint filed in Brooklyn federal court, the watchdog charged Hart (aka Richard Schueler) and three unincorporated entities that he controls - Hex, PulseChain, and PulseX - with conducting the unregistered offerings. According to the complaint, Heart began marketing Hex in 2018, claiming it was the first high-yield “blockchain certificate of deposit,” and began promoting tokens as an investment designed to make people “rich.” Heart and Hex allegedly offered and sold Hex tokens in an unregistered offering, collecting more than 2.3 million Ethereum, including through so-called “recycling” transactions that enabled Heart to surreptitiously gain control of more Hex tokens.

Richard Heart with raising more than $1 billion in three unregistered crypto asset offerings and defrauding investors out of $12.1 million to buy luxuries including a 555-carat black diamond. In a complaint filed in Brooklyn federal court, the SEC said Heart, also known as Richard Schueler, touted his Hex token, PulseX asset trading platform and PulseChain asset network on YouTube and other websites as pathways to «grandiose wealth.» The SEC said Heart often made superficial «tongue-in-cheek» disclaimers that his offerings were not securities but knew otherwise, as he touted that Hex was capable of 38% returns and «built to be the highest appreciating asset that has ever existed in the history of man.» The SEC accused Heart of spending investor funds on McLaren and Ferrari sports cars, four Rolex watches and «The Enigma,» which cost 3.16 million British pounds (then $4.28 million) at auction and was purportedly the world's largest black diamond.

devastating floods in Nova Scotia has come to a tragic end, though officials are still looking for a missing youth.The Nova Scotia RCMP confirmed the body of one of the missing children was found around 10:45 Tuesday morning in the primary search area in the Hants County community of Brooklyn, N.S.Police also said that previously unidentified human remains found on the shore of a waterway late Monday morning in neighbouring Kings County are believed to be those of the second missing child.“This is a devastating time for the children’s families, their loved ones, and their communities,” said RCMP Chief Superintendent Sue Black during a news conference Tuesday afternoon.“I want to extend sincere condolences on behalf of everyone at the Nova Scotia RCMP.”The children were among four people reported missing in two separate incidents after vehicles became submerged in floodwaters in the West Hants area Saturday following heavy rainfall.Officials recovered the body of a 52-year-old man from Windsor Monday morning. A youth who the man was travelling with remains missing.The search for the youth continues.“This afternoon, they remain focused on the primary search area in Brooklyn, where efforts to reduce the water level are continuing,” she said.RCMP Sgt.

Former Mozambique finance minister Manuel Chang has been extradited to the U.S. to face a fraud and corruption trial over a $2 billion scandal involving fraudulent government loans

Cryptocurrency trading platform Coin Cafe has been ordered to repay $4.3 million to its users after allegedly charging “exorbitant and undisclosed fees" for storing Bitcoin on the platform — leading to some accounts being drained entirely of its funds.

A recent college graduate and a single mom are dabbling hopefully in bitcoin after attending a crypto workshop sponsored by rapper Jay-Z at the public housing complex where the hip-hop star grew up. But a former executive at a cryptocurrency exchange feels disillusioned by the false promise of crypto helping her family in Ethiopia's war-torn Tigray region. All were drawn by the idea of crypto as a pathway to wealth-building outside of traditional financial systems with a long history of racial discrimination and indifference to the needs of low-income communities. But crypto's meltdown over the past year has dealt a blow to that narrative, fueling a debate between those who continue to believe in its future and skeptics who say misleading advertising and celebrity-fueled hype have drawn vulnerable people to a risky and unproven asset class.

On March 14, a class action lawsuit was filed against the recently shut down crypto-friendly, New York-based Signature Bank, and its former chief executive office, Joseph DePaolo, chief financial officer, Stephen Wyremski, and chief operating officer, Eric Howell, for allegedly committing fraud Reuters reported. 

A former Goldman Sachs banker was sentenced on 9 March to 10 years in prison for helping to loot billions of dollars from a Malaysian sovereign-wealth fund in a global financial scandal that tarnished the Wall Street bank.