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Venezuelan Oil Minister Henao: By the end of the year, Chevrons production in Venezuela will reach 300,000 barrels per day.On September 4th, Polish Deputy Prime Minister and Defense Minister Kosiniak Kamesz stated on the 3rd that, in light of recent activity by Russian military aircraft, Poland has decided to further strengthen its airspace defenses and increase the frequency of operations by its air force fighter jets and military helicopters. On the same day, Poland announced temporary airspace restrictions from September 10th to December 9th in parts of the countrys eastern region, primarily affecting low-altitude flights; civilian airliners flying normally at higher altitudes will not be affected. The Polish military stated that these measures aim to ensure greater operational space for its air defense systems in order to respond quickly to potential security threats.On September 4th, the Israel Defense Forces (IDF) stated on the 3rd that it had recently launched an operation in the Ali Taher Ridge area of southern Lebanon, achieving "operational control" over both above-ground and underground areas and clearing Hezbollah militants hiding in two underground tunnels. The IDF stated that the operation to dispose of this underground facility is ongoing and that it will continue operations in the so-called "safe zone" in southern Lebanon.Japans total household spending rose 0.5% month-on-month in July, below the expected 2.6% and the previous months -6.4%.Japans household spending in July fell 3.6% year-on-year, compared to a forecast of -1.6% and a previous reading of -3.30%.

FTX gets court approval to subpoena founder Bankman-Fried, other insiders

Jimmy Khan

Feb 09, 2023 15:30

Sam Bankman-Fried, the founder of the defunct cryptocurrency startup FTX, and his family members were served subpoenas on Wednesday with permission from the court as part of the company's inquiry into "misappropriated and stolen" cash.


The once-respected cryptocurrency exchange FTX filed for bankruptcy protection in November amid claims that Bankman-Fried diverted funds from FTX clients to bolster the financial position of the hedge fund Alameda Research, which is connected to FTX. In order to find instances of misspending that may be recovered in order to pay back FTX's clients, FTX claimed that it requires additional information from former insiders, including its accused founder.


FTX's request to serve subpoenas on Bankman-Fried, his parents Barbara Fried and Joseph Bankman, his brother Gabriel Bankman-Fried, former FTX Chief Technology Officer Gary Wang, former Alameda Research CEO Caroline Ellison, and former FTX Chief Operating Officer Constance Wang was granted by U.S. Bankruptcy Judge John Dorsey, who is presiding over FTX's Chapter 11 proceedings.


In court documents submitted on Wednesday, FTX said that the majority of the people named in the subpoena targets had started participating with its inquiry. Ellison and FTX are still in communication, and Sam Bankman-Fried "remains non-responsive," according to FTX.


In relation to their involvement in the demise of FTX and Alameda, Ellison and Gary Wang have admitted guilt on fraud-related offenses. Bankman-Fried will go on trial in federal court in Manhattan in October after entering a not guilty plea.


The subpoenas are focused on shady transactions by FTX insiders. In addition, the parents of Bankman-Fried spent $16.7 million on property in the Bahamas, and the Bankman-Fried brothers' advocacy group, Guarding Against Pandemics, bought a headquarters facility in Washington, D.C.

Additionally, FTX is looking for data on political contributions. Along with contributions from Sam Bankman-Fried, his mother established Mind the Gap, a political action committee that makes suggestions to a network of political contributors.


Bankman-Fried refused to speak, and family members could not be contacted for comment right away. Sam Bankman-Fried did not give directly to Mind the Gap, according to earlier reports, but he did contribute to some of the organization's suggested projects.

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