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Troubles at Sam Bankman-Fried's Alameda began well before crypto crash

Trading firm took big gambles, winning some and losing plenty; ‘complete lack of a risk-management framework’ ....

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Transcripts for KPIX CBS Evening News With Norah ODonnell 20240604 23:37:00

When you think about the cold that s on the way, it is not at all something that you want to deal with. temperatures for highs tomorrow in some areas worries in the south will be midnight tonight as temperatures continue to plunge and, major, by saturday morning, parts of the south will have wind chill values below zero. garrett: chris warren, we thank you. sam bankman-fried, disgraced founder of the cryptocurrency exchange f.t.x. made his first court appearance today in new york. prosecutors allege bankman-fried defrauded investors and customers out of billions of dollars. even so, they agreed to a bail deal. cbs lilia luciano has the strict conditions of his release. reporter: sam bankman-fried walked bay of past reporters, the first public glimpse of him back on u.s. soil outside a new york federal courthouse. moments earlier, he calmly sat as prosecutors pulled no punches saying the disgraced founder of the cryptocurrency company f.t.x. perpetrated a fraud of ....

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Transcripts for BBCNEWS World Business Report 20240604 05:40:00

Which they were really scared of was being sent to those camps, and now these people can just isolate at home. so it was no fun. i think most people are happy that covid zero is over, probably a little bit nervous how quickly it was over, but life must go on. it definitely doesnt life must go on. it definitely doesn t sound life must go on. it definitely doesn t sound like life must go on. it definitely doesn t sound like any - life must go on. it definitely| doesn t sound like any fun at all. thank you for being with us. ., ~ all. thank you for being with us. ., ~ , ., let s get some of the day s other news: the founder of ftx has been sent back to a jail in the bahamas after a reported plan to extradite him to the united states stalled. sam bankman fried appeared in court on monday but there was no final decision regarding his extradition, with his lawyer saying he wasn t aware of that plan. the cryptocurrency exchange ftx collapsed last month, leaving many users unable to withd ....

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Transcripts for KPIX CBS Weekend News 20240604 01:37:00

Local charities try to give them childhood wo give them some happiness, yes. reporter: this christmas santa s elves would struggle to build what tonya wants. i want celebrating. i want american dream in my life. reporter: for a shy 9-year-old girl there s only one thing she wants under the tree. victory. reporter: victory so they can celebrate next christmas free from fear. ian lee, cbs news, odesa, ukraine. we can report on an about face from the founder of cryptocurrency exchange ftx. tomorrow sam bank mang-fried is expected to waive extradition to the u.s. after appearing in a bahamas court. he is accused of defrauding billions from investors. the company is now bankrupt. holiday travel takes off ....

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Transcripts for BBCNEWS BBC News 20240604 02:09:00

The gulf state of qatar. at a summit in washington, the us defence secretary, lloyd austin, has warned african leaders there s a risk that china and russia will destabilize the continent. at the start of the 3 day meeting, which is being attended by dozens of african leaders, he spoke of a lack of transparency when it came to china s growing economic influence on the continent, and criticised russia for deploying mercenaries in african countries. ajudge in the bahamas has denied bail to the founder of the collapsed cryptocurrency exchange ftx, who s been accused of one of the biggest financialfrauds in us history. thejudge said sam bankman fried should be remanded in custody until the case for extradition could be heard. mr bankman fried has indicated that he will fight extradition to the united states, where the authorities have filed eight separate criminal charges against him. a court in peru has ....

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