Court
Judge pulls out of SBF-FTX case citing husband’s law firm’s advisory link
The ongoing legal proceedings around former FTX CEO Sam Bankman-Fried (SBF) took a new turn as District Judge Ronnie Abrams withdrew her participation from the case. The United States District Court for the Southern District of New York rescued itself from the FTX case after revealing that a law firm — which employs Abrams’ husband as a partner — had advised the crypto exchange in 2021. In a Dec. 23 filing, Judge Abrams revealed that her husband, Greg Andres, is a partner at Davis Polk & Wardwell, a law firm where he has been employed since June 2019. Additionally, it was highlighted that the law firm had advised FTX in 2021. Abrams also stated that the law firm represented parties that may be adverse to FTX and SBF in other legal proceedings. “My husband has had no involvement i...
SBF signs extradition papers, set to return to face charges in the US
Sam Bankman-Fried, the jailed founder of the FTX cryptocurrency exchange has reportedly signed papers on Dec. 20 that will soon see him handed over to Federal Bureau of Investigation (FBI) agents and flown to the United States to face criminal charges. The move was expected, as Bankman-Fried was reported to have agreed in principle to being extradited to the U.S. earlier this week on Dec. 19, despite earlier reports indicating he wanted to see the indictment against him fir ABC News reported the development that Bankman-Fried signed extradition papers on Dec. 20 citing The Bahamas’ acting commissioner of corrections Doan Cleare. A Dec. 21 report from Bloomberg said the exchange founder signed surrender documents on Dec. 20 citing Cleare, with another set of papers waiving h...
Tory Lanez Allegedly Shot Megan Thee Stallion Because She ‘Insulted His Skills as a Musical Artist,’ Court Hears
Opening statements kicked off the highly anticipated trial over whether Tory Lanez shot Megan Thee Stallion in the foot two years ago. Los Angeles prosecutors hope to convict Lanez (real name Daystar Peterson) of three felony charges over the July 12, 2020 incident, in which he allegedly shot Stallion in the foot during an argument after a pool party in the Hollywood Hills. In October 2020, he was charged with one count of assault with a firearm and another gun possession charge. On Dec. 6, 2022, just one week before the trial began, the L.A. district attorney’s office added a new, third count of discharging a firearm with gross negligence. If convicted on all three charges, Lanez faces 22 years in prison. Yet Lanez, 30, has maintained his innocence and looked poised to fight for it while ...
FTT investors’ claims to be investigated for securities laws violations
To help out the recently duped investors of FTX Tokens (FTT), shareholder rights litigation firm — Schall Law Firm — has taken up the task of investigating the investors’ claims against FTX for violations of the securities laws. It is estimated that over one million people have lost their life savings owing to the financial fraud committed by FTX CEO Sam Bankman-Fried. To help the investors legally recoup losses, the law firm plans to investigate FTX for issuing misleading statements or failing to disclose crucial information. In an official statement, Schall Law Firm highlighted how various media publications uncovered the cracks within FTX-Alameda operations, eventually leading to the crash of FTX’s in-house FTT tokens. The law firm advised all FTT investors to participate in the drive b...
3AC subpoenas issued as dispute grows over claims of Terraform dump
A federal judge overseeing Three Arrows Capital’s (3AC’s) bankruptcy proceedings has signed an order approving subpoenas to be delivered to 3AC’s former leadership, including co-founders Su Zhu and Kyle Davies. The subpoenas require the founders to give up any “recorded information, including books, documents, records, and papers” in their custody that relates to the firm’s property or financial affairs. The infamous hedge fund, worth $10 billion at its peak, filed for Chapter 15 bankruptcy on Jul. 1 with its troubles tied up in too much leverage and the collapse of Terra Luna (LUNA), known now as Terra Classic (LUNC), and its algorithmic stablecoin formerly known as TerraUSD (UST). Since then, the liquidators — advisory firm Teneo — have been trying to hunt down the firm’s assets and pin ...
SBF’s lawyers terminate FTX representation due to conflicts of interest
Paul, Weiss, the law firm backing FTX CEO Sam Bankman-Fried (SBF) amid bankruptcy, renounced representing the entrepreneur, citing a conflict of interest. The decision to withdraw from representation after SBF’s tweets were found to disrupt the law firm’s reorganization efforts. Starting Nov. 14, SBF published a series of tweets that amassed extensive attention across Crypto Twitter. The move, however, sparked speculations that the cryptic tweets were used to distract bots from noticing concurrently deleted tweets. While no ill-intent could be concluded, Paul, Weiss attorney Martin Flumenbaum believed that SBF’s “incessant and disruptive tweeting” was negatively impacting the reorganization efforts: “We informed Mr. Bankman-Fried several days ago, after the filing of the FTX bankruptcy, th...
South Korea seizes $104M from Terra co-founder suspecting unfair profits
While crypto exchange FTX stole the limelight from other fallen ecosystems, South Korean authorities continue their efforts to bring closure to the victims of the year’s first crypto crash — Terraform Labs. Nearly six months after the Terra (LUNA) blockchain was officially halted, South Korean authorities froze approximately $104.4 million (140 billion won) from co-founder Shin Hyun-seong based on suspicion of unfair profits. The decision to freeze Shin’s asset worth over $104 million was approved by the Seoul Southern District Court, which was based on a request from the prosecutors. The claim related to Shin’s involvement in selling pre-issued Terra (LUNA) tokens to unwary investors. Based on suspicion of profiting from unwarranted LUNA sales, the district court froze the allegedly stole...
You have our swords: 12 independent entities pledge legal support for Ripple
Fintech firm Ripple is garnering more support from the crypto and finance industry in its ongoing battle with the United States Securities and Exchange Commission (SEC). On Nov. 4, Ripple CEO Brad Garlinghouse proudly tweeted that the number of companies, developers, exchanges, associations and investors officially supporting the firm has reached 12. The pile of amicus briefs being filed is mounting up according to Ripple Labs general counsel Stuart Alderoty. An amicus brief is a legal document filed in appeals cases to aid the court by providing extra relevant information or arguments. These briefs are filed by amicus curiae, a Latin phrase that translates to “friend of the court.” “It’s unprecedented (I’m told) to have this happen at this stage,” Garlinghouse exclaimed. For those of you ...
Drake, Meg Thee Stallion & More Sign Letter To Protest Using Rap Lyrics In Court
HipHopWired Featured Video Source: Noam Galai / Getty The war against Rap continues but some of our biggest talents are fighting back. Several top rappers have signed a letter to protest the use of lyrics in court. As spotted on Vulture the Hip-Hop community is trying to right a glaring wrong when it comes to rappers getting prosecuted. Artists, industry leaders, and legal experts have joined together in a call to “Protect Black Art,” publishing an open letter in The New York Times and The Atlanta Journal-Constitution urging legislators across America to limit how creative expression can be used against defendants on trial. Specifically, it calls for an end to the racially discriminatory practice of treating rap lyrics as confessions. Drafted and published by...
Celsius Network defaults on payments to Core Scientific, causing financial unrest
Crypto lender Celsius Network’s legal journey has gained another chapter as Bitcoin (BTC) miner Core Scientific accused the company of refusing to pay its bills since filing for Chapter 11 bankruptcy, according to court papers filed on Oct. 19. Core Scientific, which is one of the largest publicly traded crypto companies, claims the default on payments is threatening its financial stability, already hurt by crypto winter and high energy costs. In the court filings, Celsius alleges that Core Scientific delayed mining rig deployment and supplied them with less power than required under their contract. Celsius is reportedly seeking a court order holding Core in contempt and ordering it to fulfill its obligations. Meanwhile, Core requested the court to compel Celsius to pay pa...
Rex Orange County Charged With 6 Counts of Sexual Assault in the U.K.
British singer-songwriter Rex Orange County has been charged with six counts of sexual assault in his native U.K., Billboard has confirmed. The charges stem from an accusation that the artist (born Alexander O’Connor) twice assaulted a woman in the West End on June 1. That was allegedly followed by four additional assaults against the same woman the following day: once in a taxi and three more times at his home in London’s Notting Hill district. On Monday (Oct. 10), O’Connor denied all counts during an appearance at Southwark Crown Court in London. He has been set free on unconditional bail ahead of a provisional trial date on Jan. 3. The news was first reported by The Sun. “Alex is shocked by the allegations which he denies and looks forward to clearing his name in court,” said a represen...
Rest In Power: New Court Documents Reveal PnB Rock’s Final Moments
HipHopWired Featured Video Source: Scott Dudelson / Getty The world now knows more details behind PnB Rock’s shocking murder. New court documents have revealed PnB Rock’s final moments. As per Vulture local police have pieced together what occurred that fateful day he was dining at Roscoe’s Chicken & Waffles with his girlfriend Steph Sibounheuang. On Thursday, Sept. 29 prosecutors filed a criminal complaint regarding the brutal incident that took his life. The documents claim a “man in a red shirt” saw the rapper walk into the restaurant apparently wearing hundreds of thousands worth of jewelry around his neck and on his wrist. Freddie Lee Trone then arrived shortly after in a black Buick Enclave and with his alleged son outside the dine-in spot. The unidentified young man apparen...
