New York prosecutors say Sam Bankman-Fried's lawyers made meritless arguments in a bid to convince a judge to toss out criminal charges alleging that the FTX founder stole from investors in his multibillion dollar cryptocurrency fund. Prosecutors filed papers late Monday in Manhattan federal court. Their arguments responded to early-May filings in which Bankman-Fried's lawyers insisted that the federal government overreached in its case against Bankman-Fried, making federal crimes out of regulatory issues. Bankman-Fried has been living with his parents in Palo Alto, California after posting a $250 million personal recognizance bond after his December extradition from the Bahamas.
In The News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what's on the radar of our editors for the morning of May 30 .
The 31-year-old has pleaded not guilty to charges that he cheated investors and looted customer deposits on FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda Research, his cryptocurrency hedge fund trading firm