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By Andrew R. ChowUpdated: March 28, 2024 5:21 PM EDT | Originally published: March 28, 2024 11:50 AM EDTSam Bankman-Fried, the former billionaire who was found guilty of defrauding custom
stanley cup ers and investors of his cryptocurrency exchange FTX, was sentenced to 25 years in prison on Thursday by a federal judge, who ruled that Bankman-Fried committed perjury and atte
stanley cup mpted witness tampering. The sentencing closes the door on an astonishing rise-and-fall saga in which Bankman-Fried, 32, was lauded as one of the worlds most successful entrepreneurs before losing more than $8 billion worth of FTX customer deposits. Bankman-Frieds sentence is less what federal prosecutors had hoped for: they recommended that he should receive 40-50 years due to the extraordinary dimensions of his crimes and the risk that he might carry out a future fraudulent scheme. Bankman-Fried and his lawyers conversely argued that he should receive five to seven years. In comparison, Bernie Madoff rece
stanley cup ived a 150-year sentence; Enron CEO Jeff Skilling received a 24-year sentence; and Theranos founder Elizabeth Holmes received 11 years. On Thursday, Judge Lewis Kaplan used strong language to criticize Bankman-Fried and justify his sentence. He said that Bankman-Fried perjured himself three times while under oath, including falsely testifying that he had no knowledge that his trading firm Alameda had spent FTX customer funds until the fall of 2022. He said that Bankman-Fried displayed exceptional flexibility with Tcwe What Apple s Gargantuan Cash Giveaway Really Means
Presi
salomon dent Barack Obama shakes hands with Chinese President Xi Jinping after a joint press conference at the Great Hall of People in Beijing on Nov. 12, 2014.Feng Li鈥擥etty ImagesBy Michael SchumanNovember 12, 2014 2:55 AM ESTAs the very name tells you, the Asia-Pacific Economic Cooperation APEC summit in Beijing this week was mostly about business. And for good reason. Cross-Pacific trade mdash; especially between Asia and the U.S. mdash; is what made countries like China, Japan and South Korea as rich as they are today. So all of the national leaders who attended mdash; from U.S. President Barack Obama to Russian President Vladimir Putin to Chinarsquo P
air max 1 resident Xi Jinping mdash; are incentivized to promote freer exchange between their economies, and as a result, much of the talk at t
adidas campus he summit regarded pacts aimed at further reducing barriers to exports and imports.But these days, trade has also become a tool of geopolitical strategy, and that, too, showed itself at APEC. Different Pacific powers are pushing for different trade deals. How that competition plays out in coming years will help shape the regionrsquo political and economic future mdash; and most of all, the role the U.S. may play in Asia for decades to come.Chinarsquo Xi is promoting a regional pact called the Free Trade Area of the Asia Pacific FTAAP , which would build on the many overlapping free-trade agreements in East Asia. On Tuesday, he said that APEC countries 8220 hould vigorously prom
