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FTX tries to reclaim $11M from Crypto.com-controlled Alameda account

Coin Telegraph
FTX tries to reclaim M from Crypto.com-controlled Alameda account
Bankruptcy

Alameda Research has filed complaints against crypto exchange KuCoin and Crypto.com to recover millions in locked funds as FTX prepares to repay users.

Alameda Research, one of the sister firms connected to defunct crypto exchange FTX and a party to its bankruptcy case, is seeking to recover more than $11 million in a Crypto.com account held since 2022. 

In a Nov. 7 filing in the United States Bankruptcy Court for the District of Delaware, Alameda filed a complaint to “recover at least $11.4 million in debtor assets contained in a Crypto.com exchange account” controlled by the company. The firm requested an order from the bankruptcy court “directing Crypto.com to turn over to the Debtors the assets” that were not of “inconsequential value.”

Source: Kroll

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Ex-Alameda Research CEO to report to prison for 2-year sentence

Coin Telegraph
Ex-Alameda Research CEO to report to prison for 2-year sentence
Alameda Research

Caroline Ellison has been free on bail since her guilty plea in 2022, testifying at Sam Bankman-Fried’s criminal trial and subject to intense scrutiny by the media.

Former Alameda Research CEO Caroline Ellison is expected to report to prison on Nov. 7 to serve her two-year sentence for her role in crimes at cryptocurrency exchange FTX.

At the time of publication, the Federal Bureau of Prisons (BOP) website stated Ellison was not in custody but provided an inmate number and her age, race and sex. On Sept. 24, Judge Lewis Kaplan of the United States District Court for the Southern District of New York sentenced Ellison to two years in prison, where she is expected to surrender no earlier than Nov. 7.

Source: Federal Bureau of Prisons

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Bitfinex hack launderer ‘Razzlekhan’ wants time served as sentencing looms

Coin Telegraph
Bitfinex hack launderer ‘Razzlekhan’ wants time served as sentencing looms
bitfinex

Heather Morgan has argued for no more jail time for her role in laundering some of the 120,000 Bitcoin stolen from Bitfinex by her husband Ilya Lichtenstein.

Heather Morgan, also known as the rapper “Razzlekhan,” has asked to avoid more prison time ahead of her sentencing for her role in laundering the Bitcoin her husband stole from the crypto exchange Bitfinex.

“Ms. Morgan has proven herself worthy of a second chance, and we respectfully ask this Court to give her that chance by imposing a sentence of time served,” Morgan’s lawyers asked a Washington, DC, federal court in an Oct. 31 filing.

They added she was subject to “difficult conditions” in her week-long pretrial incarceration — having to recover from surgery and getting COVID-19 — and, since her release in mid-February 2022, had “complied fully with the restrictive terms of pretrial release.”

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Judge pushes Tornado Cash co-founder trial to April 2025

Coin Telegraph
Judge pushes Tornado Cash co-founder trial to April 2025
Coin Telegraph

Roman Storm, currently free on bail and facing three federal charges, will have another four months to prepare for his criminal trial.

Tornado Cash co-founder and developer Roman Storm won’t stand trial for money laundering and sanctions violation charges until April 2025.

In a Nov. 1 telephone conference for the United States District Court for the Southern District of New York, Judge Katherine Polk Failla ordered Storm’s trial adjourned until April 14, 2025. The Tornado Cash co-founder’s legal team had been petitioning to dismiss his charges, claiming they were based solely on him writing code for the cryptocurrency mixing service.

In 2023, prosecutors charged Storm and Tornado co-founder Roman Semenov with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money-transmitting business. The indictment prompted outrage from many in the crypto industry.

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Ex-FTX exec sentenced to time served after guilty plea

Coin Telegraph
Ex-FTX exec sentenced to time served after guilty plea
Coin Telegraph

Nishad Singh will receive no prison time after pleading guilty to six felony charges in February 2023, cooperating with prosecutors and FTX’s debtors after the exchange’s collapse.

A federal judge has sentenced Nishad Singh, the former engineering director of FTX, to time served and three years of supervised release for his role in misappropriating user funds and campaign finance violations.

In an Oct. 30 hearing in the United States District Court for the Southern District of New York, Judge Lewis Kaplan sentenced the 29-year-old Singh to time served. He was the fourth individual named in the indictment of FTX executives to stand before a judge following sentencing hearings for former CEO Sam Bankman-Fried, former Alameda Research CEO Caroline Ellison, and former FTX Digital Markets co-CEO Ryan Salame.

According to reporting from the courtroom by Inner City Press, Singh’s lawyers alleged “most of” the fraud at FTX was the result of Bankman-Fried’s and Ellison’s actions. The former FTX executive said he was “overwhelmed with remorse” for his role.

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

FTX CEO hints Nishad Singh should remain free to assist bankruptcy case

Coin Telegraph
FTX CEO hints Nishad Singh should remain free to assist bankruptcy case
Coin Telegraph

John Ray, who took over as FTX CEO in November 2022, suggested Nishad Singh’s cooperation in the firm’s bankruptcy would be “important to maximize recovery” for creditors.

Scheduled to be sentenced on the afternoon of Oct. 30, former FTX engineering director Nishad Singh has submitted an eleventh-hour letter from the company’s current CEO, who said he would provide “further assistance and cooperation” in the firm’s bankruptcy case.

In an Oct. 29 filing in the United States District Court for the Southern District of New York, Singh’s lawyers filed a sentencing letter from FTX Trading Ltd. CEO John Ray detailing the former engineering director’s assistance in the firm’s Chapter 11 case. According to the FTX CEO, Signh assisted the FTX debtors with information about the firm’s computers shortly after the firm filed for bankruptcy, provided relevant documents, and helped return Bahamian property purchased with company funds.

Source: SDNY

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Hacker behind fake Bitcoin ETF X post pleads not guilty

Coin Telegraph
Hacker behind fake Bitcoin ETF X post pleads not guilty
bitcoin etf

Reports from the courtroom suggested that prosecutors would offer a deal for Eric Council Jr., who allegedly helped compromise the SEC’s X account.

Eric Council Jr., the individual charged over his involvement for allegedly hacking the United States Securities and Exchange Commission’s X account and posting a message suggesting that Bitcoin exchange-traded funds (ETFs) had been approved, has pleaded not guilty in a DC courtroom.

In an Oct. 25 arraignment before Judge Amy Berman Jackson in the US District Court for the District of Columbia, Council Jr. entered a plea of not guilty for one charge of conspiracy to commit aggravated identity theft and access device fraud. He was allegedly part of a group that hacked the SEC’s X account in January, publishing a post that claimed the commission had officially approved spot Bitcoin (BTC) ETFs for the first time.

The fake SEC X post — since removed — announcing the approval of spot Bitcoin ETFs. Source: US SEC/X

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Homeowner lawsuit over $170K crypto theft rejected on appeal  

Coin Telegraph
Homeowner lawsuit over 0K crypto theft rejected on appeal  
Appeals Court

A United States appeals court said a district court was right to toss Ali Sedaghatpour’s lawsuit claiming that his insurer, Lemonade Insurance, should cover him for a crypto scam loss.

A homeowner’s attempt to sue his insurer for failing to cover his $170,000 loss to a crypto scam was rejected by a United States appeals court, with a three-judge panel ruling there had been no error in dismissing his case. 

The Fourth Circuit Appeals Court ruled on Oct. 24 that a Virginia District Court judge was correct in ruling that Ali Sedaghatpour had no breach of contract claim against Lemonade Insurance because his homeowner’s policy only covered “direct physical loss” of property.

Sedaghatpour sued Lemonade Insurance in 2022, claiming the insurer should have covered him under the policy for $170,000 in crypto stolen from him in a scam.

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

US gov’t cites ex-FTX exec’s ‘exemplary cooperation’ before sentencing

Coin Telegraph
US gov’t cites ex-FTX exec’s ‘exemplary cooperation’ before sentencing
Coin Telegraph

Prosecutors asked Judge Lewis Kaplan to consider Nishad Singh’s “substantial assistance” to the government in its case against Sam Bankman-Fried at sentencing.

Prosecutors said former FTX engineering director Nishad Singh, who pleaded guilty and cooperated with authorities, provided “substantial assistance” to the United States government, hinting the judge should be lenient at sentencing.

In an Oct. 23 filing in the US District Court for the Southern District of New York, US Attorney Damian Williams asked Judge Lewis Kaplan to consider Singh’s cooperation, which helped in the prosecution of former FTX CEO Sam “SBF” Bankman-Fried and former FTX Digital Markets co-CEO Ryan Salame. Singh is scheduled to appear before the judge on Oct. 30 for sentencing after pleading guilty to fraud and conspiracy charges in 2023.

According to prosecutors, Singh’s testimony at SBF’s trial was a “core part” of the government’s case by helping the jury understand “how FTX’s code permitted the illegal use of customers’ funds” and “identif[ying] in detail the transactions by Bankman-Fried that involved the use of stolen money.”

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Former Celsius CEO to return to court on Nov. 13

Coin Telegraph
Former Celsius CEO to return to court on Nov. 13
Alex Mashinsky

Judge John Koeltl ordered Alex Mashinsky and prosecutors to appear in court on Nov. 13 to address the former Celsius CEO’s motion to dismiss fraud and market manipulation charges.

Alex Mashinsky, the former CEO of crypto platform Celsius, will appear in a New York courtroom for the first time in months for oral arguments related to his motion to dismiss charges.

In an Oct. 23 filing in the United States District Court for the Southern District of New York, Judge John Koeltl ordered Mashinsky and prosecutors to appear in court on Nov. 13 to “preserve testimony” and address the former Celsius CEO’s motion to dismiss certain charges in the indictment. In January, Mashinsky’s lawyers filed motions to dismiss charges related to commodities fraud and market manipulation.

Source: SDNY

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Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

Roger Ver moves to dismiss US tax evasion charges as ‘unconstitutional’

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