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FTX founder Sam Bankman-Fried jailed after bail revoked
FTX founder Sam Bankman-Fried jailed after bail revoked
A US federal judge on Friday ordered FTX founder Sam Bankman-Fried back to prison after prosecutors argued he had violated the conditions of his bail and tampered with witnesses, less...
2023-08-12 04:45
Junk Bond Funds in Korea May Have Just Gotten a $2 Billion Boost
Junk Bond Funds in Korea May Have Just Gotten a $2 Billion Boost
South Korea has come up with a novel way of ensuring that weaker companies get cash during economic
2023-05-10 09:46
AFROPUNK BROOKLYN 2023 Announces Lineup, With Headliners Jazmine Sullivan and Flying Lotus
AFROPUNK BROOKLYN 2023 Announces Lineup, With Headliners Jazmine Sullivan and Flying Lotus
NEW YORK--(BUSINESS WIRE)--Jun 22, 2023--
2023-06-23 00:26
A Rare Shift in Crypto Volatility Offers Ether a Boost Relative to Bitcoin
A Rare Shift in Crypto Volatility Offers Ether a Boost Relative to Bitcoin
Volatility gauges suggest traders expect smaller near-term swings in Ether compared with Bitcoin, a reversal of the usual
2023-05-22 14:56
Britons face biggest tax rise since 1979, think tank says
Britons face biggest tax rise since 1979, think tank says
By Suban Abdulla LONDON Britons face the biggest tax-raising drive since the start of former prime minister Margaret
2023-05-16 07:17
Billionaire Joe Lewis pleads not guilty to insider trading in schemes involving girlfriend and private pilots
Billionaire Joe Lewis pleads not guilty to insider trading in schemes involving girlfriend and private pilots
Joe Lewis, the British billionaire and long-time majority stakeholder in Tottenham Hotspur, pleaded not guilty in New York on Wednesday to charges of insider trading. The previous day, federal officials said the investor “abused his access to corporate boardrooms” and carried out a series of “brazen” instances of financial misconduct, sharing insider information with friends, employees, and former romantic partners. He’s charged with 16 counts of securities fraud and three counts of conspiracy, Reuters reports. “That’s classic corporate corruption,” US attorney Damian Williams said in a video statement on Tuesday. “It’s cheating, and it’s against the law.” Attorneys for the billionaire said he plans to fight the charges. “The government has made an egregious error in judgment in charging Mr Lewis, an 86-year-old man of impeccable integrity and prodigious accomplishment,” David M Zornow said in an email statement to The Independent on Tuesday. “Mr Lewis has come to the US voluntarily to answer these ill-conceived charges, and we will defend him vigorously in court.” In a hearing on Wednesday before US magistrate Judge Valerie Figueredo in Manhattan following Mr Lewis’s early-morning arrest by the FBI, new details about the case against the businessman came to light. As part of a $300m bond, Mr Lewis was ordered to surrender his mega-yacht, the Aviva, as well as his private aircraft. He will now be barred from international travel as the case proceeds. Officials also accused two of his pilots, Patrick O’Connor of New York and Bryan Waugh of Virginia, of profiting off illegal tips from Mr Lewis. Both men have pleaded not guilty, and their lawyers declined requests to comment from Reuters. Prosecutors allege Mr Lewis lent the men $500,000 each in 2019, encouraging them to buy stock in an oncology company in which the billionaire had invested. Mr O’Connor allegedly texted a friend “the Boss has inside info”, a seeming reference to a tip that the billionaire allegedly passed on that the company was about to announce promising clinical results. After the company announced the news, the shares the pilots allegedly bought leapt by 16.7 per cent, and prosecutors allege one of the men labeled a payment to Mr Lewis “loan payback” and listed the company’s stock symbol. In an accompanying civil case, the Securities and Exchange Commission accused Mr Lewis, the pilots, and the billionaire’s former girlfriend Carolyn Carter of insider trading. Officials allege that in 2019, Mr Lewis told Ms Carter about a biotech company that was about to raise capital and potentially increase its share price, even though he was bound by a confidentiality agreement. She then allegedly bought $701,000 in the company, earning a $172,000 on her investment. The Independent has contacted Ms Carter for comment. “When insiders like Lewis take advantage of their access to such information, it erodes public trust and confidence in the fair and efficient operation of our markets,” SEC enforcement director Gurbir Grewal said in a statement. “That’s why we will continue to use all the tools at our disposal to hold accountable those who abuse their positions for personal benefit and the unlawful enrichment of others.” Tottenham Hotspur told The Independent, “This is a legal matter unconnected with the club and as such we have no comment.” Mr Lewis ceased to be a "person with significant control" of the Premier League club last year, following a "reorganisation of the Lewis Family Trusts,” the club said, according to Sky News. He bought a controlling stake in the Premier League club from Lord Alan Sugar in 2001 for £22m. Mr Lewis owns the Tavistock Group, which owns more than 200 assets across 13 countries, including Tottenham Hotspur and UK pub operator Mitchells & Butlers, according to Sky News. The 86-year-old is worth an estimated $6.1bn and lives in the Bahamas, according to Forbes. Read More Who is Joe Lewis? The secretive billionaire Tottenham owner charged with insider trading UK billionaire Joe Lewis, owner of Tottenham soccer team, charged with insider trading in US Football rumours: Tottenham owner tells chairman to sell Harry Kane
2023-07-27 07:56
Unpaid workers, silent sites: China's property woes hit Country Garden
Unpaid workers, silent sites: China's property woes hit Country Garden
By Laurie Chen TIANJIN, China At an unfinished Country Garden residential complex on the outskirts of the northern
2023-08-23 09:47
Real Estate Is Most Distressed Sector in Europe, Study Finds
Real Estate Is Most Distressed Sector in Europe, Study Finds
Real estate was the most distressed sector in Europe in the second quarter of the year, driven by
2023-07-13 20:46
Binance Australia customers seen selling bitcoin at discount to rival exchanges
Binance Australia customers seen selling bitcoin at discount to rival exchanges
SINGAPORE Bitcoin prices on the Australian arm of Binance, the world's largest crypto-currency exchange, were almost A$9,000 lower
2023-05-30 12:56
Fukusaya Celebrates 400 Years: Iconic Japanese Castella Brand Debuts in Hong Kong With Exclusive Pop-Up at AIRSIDE city'super, Starting November 16
Fukusaya Celebrates 400 Years: Iconic Japanese Castella Brand Debuts in Hong Kong With Exclusive Pop-Up at AIRSIDE city'super, Starting November 16
HONG KONG--(BUSINESS WIRE)--Nov 15, 2023--
2023-11-16 12:57
Bank of England poised to raise rates after inflation shock
Bank of England poised to raise rates after inflation shock
By David Milliken LONDON The Bank of England is set to raise interest rates for a 13th time
2023-06-22 07:18
Kinsey Institute experts study sex, gender as misconceptions block state dollars
Kinsey Institute experts study sex, gender as misconceptions block state dollars
Unfounded claims about Indiana University’s sex research institute, its founder and child sex abuse have been so persistent over the years that when the Legislature prohibited the institute from using state dollars, one lawmaker hailed the move as “long overdue.”
2023-05-21 12:24