[IsraelTimes] Suit alleges Sam Bankman Fried’s parents were part of massive FTX scam
Lawyers for collapsed cryptocurrency exchange FTX Trading have filed a lawsuit accusing the parents of Sam Bankman-Fried of exploiting their influence over their son and the company he founded to enrich themselves by millions of dollars.
The complaint filed Monday against Allan Joseph Bankman and Barbara Fried in the FTX bankruptcy case in Delaware seeks to recover damages allegedly caused to the company through breaches of fiduciary duties, fraudulent transfers, unjust enrichment and other wrongdoing.
The lawsuit alleges that Bankman, a Stanford University law professor and expert in tax law, and Fried, a retired Stanford law professor, participated in the wrongdoing that led to the collapse of FTX and resulted in both criminal and civil investigations.
Both law professors? Nail ‘em to the metaphorical wall.
"Despite presenting itself to investors and the public as a sophisticated group of cryptocurrency exchanges and businesses, the FTX Group was a self-described ’family business,’" the lawsuit states.
"Bankman played a key role in perpetuating this culture of misrepresentations and gross mismanagement and helped cover up allegations that would have exposed the fraud committed by the FTX insiders," the complaint adds. "And together, Bankman and Fried siphoned millions of dollars out of the FTX Group for their own personal benefit and their chosen pet causes. This action seeks to hold them accountable for their misconduct and recover assets for the debtors’ creditors."
Attorneys for Bankman and Fried issue a statement denying the allegation and taking aim at John Ray III, who was named CEO when FTX sought bankruptcy protection and is charged with trying to clean up the mess left by its collapse.
"This is a dangerous attempt to intimidate Joe and Barbara and undermine the jury process just days before their child’s trial begins," the attorneys for Bankman and Fried wrote. "These claims are completely false. Mr. Ray and his massive team of lawyers, who are collectively running up countless millions of dollars in fees while returning relatively little to FTX clients, know better.”
#1
It's the time of year when the bulls are going into rut.
Their feistiness can kill you.
Posted by: Mullah Richard ||
09/20/2023 7:40 Comments ||
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#2
An example of the Urban Ignoramus critter of the human species. Breed through multiple generations in a protected urban environment has no understanding of the behavior of large beasts of the non-urban environment. It also has absolutely no understanding or care of how food appears in it stores or where energy comes from to power its devices.
Posted by: Frank G ||
09/20/2023 9:01 Comments ||
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#4
My sister found a wonderful book while we were visiting the park called DEATH IN YELLOWSTONE that covered all the various ways tourist met their fate in the park excluding the boring traffic accident, heart attack stuff. My favorite part was there was a woman that approached a park ranger and asked, "These animals are tame aren't they otherwise you wouldn't let them just walk around without fences?"
#6
I really appreciate the restraint the National Park Rangers exhibit (well, most of the time anyway).
We were in Hawaii (Big Island) at the Volcanoes National Park and had hiked down to the shore area where the lava usually flowed into the ocean. It wasn't flowing at that time, however.
A VERY irate tourist was complaining to a Ranger about how they'd traveled all this way to see 'a lava flow'. He was diligently trying to explain that the flow doesn't always happen and the tourist was positively irate that the Park couldn't do something about it. The Ranger kept his cool and proceeded to explain, again (and again), how a lava flows work. The tourist was having none of it.
Posted by: Mullah Richard ||
09/20/2023 10:46 Comments ||
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#7
Mullah Richard that's what I call a Touroid. A tourist that's a pain in the ass.
Posted by: Deacon Blues ||
09/20/2023 11:12 Comments ||
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#8
Have some fun with this tribute to the Park Ranger
"What do you mean there isn't a balancing rock at Balancing Rock National Park?"
ICYMI: The #US military says it finally found debris from a crashed F-35 fighter jet in #SouthCarolina, a day after asking for the public’s help in locating the elusive wreckage.
#2
#1 Any opinions on the theory that the plane was hacked?
Posted by: Ululating Platypus 2023-09-20 04:40
...Non-zero, but not likely if for no other reason than the bird was lost within a relatively short distance of six major military bases and not entirely unpopulated areas (I live just about 75 miles from the crash site).
What I think we're going to find is a combination of weather and systems failure.
#3
I just read that the pilot punched out at 1,000 feet and the aircraft was directly over suburban North Charleston. Yet on auto pilot it flew another 60+ miles before crashing. Obviously not a 'Great Santini" moment for the pilot, and something doesn't sound right?
[TTAG] When we last left the ongoing saga of claims that the P320 pistol is somehow unsafe, a small police department in Connecticut had made public a video of an officer’s duty gun discharging while he was involved in a tussle with a suspect. If you haven’t seen it, here it is . . . Since at least one commenter here has repeatedly insisted the SIG p320 is the most dangerousest pistol ever ever made. Video at the link...
As SIG said at the time, the Montville Police Department refused to allow them to inspect the pistol, the holster, or any of the rest of the gear the officer was carrying at the time. Instead, they sent the P320 in question to their own forensic lab for examination and the chief announced publicly that he’d be spending $20,000 to switch to GLOCKs.
It’s strange, then, that we’ve heard nothing more from the Montville PD or their chief about what the forensic lab found. It seems a safe bet that if they’d somehow determined that it was possible for the P320 in the video to fire on its own, we’d have heard about it.
And if that had happened, it would have been the first time anyone has ever been able to demonstrate a P320 discharging without a trigger pull. Not that a lot of people haven’t tried.
Again, it’s difficult to tell definitively from that low res security video, but it appears that the cop in question was using a Safariland holster designed for light-bearing pistols. SIG SAUER claims from their examination of the video, the pistol wasn’t fully seated and the retention hood wasn’t closed. That’s hard to tell from our view, but OK.
What’s at least as likely a cause is the fact that, as others have demonstrated, given the naturally larger opening in light-bearing holsters, there’s significantly more room for keys, jacket cinch cords, or whatever to get in there. No matter what kind of pistol you’re carrying.
Now, more than two years since our first post on the topic was published, more of these cases have had their days in court and have been resolved. Let’s see how that turned out . . .
Frankenberry v. SIG SAUER: An unholstered P320 carried in appendix position allegedly discharged without trigger pull while the owner pulled up his pants in the bathroom at a Chick-fil-A. RESULT: Summary judgement for SIG SAUER
Herman v. SIG SAUER: Plaintiff claims a P320 discharged without a trigger pull while drawing from appendix carry. RESULT: Summary judgement in favor of SIG SAUER
Schneider v. SIG SAUER: A P320 was being handed by the plaintiff to his wife when it allegedly "went off," killing her. RESULT: Dismissed with prejudice by the plaintiff who was found criminally liable
Guay v. SIG SAUER: Plaintiff’s P320 allegedly discharged while holstered while he was removing it from his belt. RESULT: Unanimous jury verdict in favor of SIG
Mayes v. SIG SAUER: Plaintiff claims his P320 fired without drawing it from his holster while shooting at his farm. RESULT: Summary judgement in favor of SIG SAUER
Hilton v. SIG SAUER: This was the case that was highlighted by ABC News and prompted our first post on the P320 lawsuits here. The plaintiff claims she was carrying her P320 in a holster, in her purse when it discharged. RESULT: Summary judgement in favor of SIG SAUER
Collette v. SIG SAUER: Plaintiff claims his P320 discharged while being carried in a gym bag while "wrapped carefully in a cloth," either a towel or t-shirt. RESULT: Dismissed with prejudice by plaintiff
Jinn v. SIG SAUER: Plaintiff claims his holstered P320 discharged while "his hand [was] on the weapon’s grip while holstered to begin the draw process" during Homeland Security tactical shooting qualifications. RESULT: Summary judgement in favor of SIG SAUER
These are all of the resolved cases that we have been able to find. You’ll notice a pattern here. First, no one has won a judgement yet. The company confirms that no one has ever won a judgement against them regarding the P320. The only case that has gone all the way to trial resulted in a unanimous jury verdict for the company.
You’ll also notice that most of these cases have been dismissed, either withdrawn by the plaintiff or on summary judgement. The reason for that is the same in virtually every case. The plaintiffs’ expert witnesses were determined by the judges to be either unreliable or their testimony inadmissible. And without expert witnesses who can show the P320 can discharge "un-commanded," the plaintiffs didn’t have a case. In other words, there was no there there.
When it comes down to it, this is what has reinforced our opinion that the wave of lawsuits that have been filed are ultimately baseless. Like the Montville Police Department (we presume) no one has ever been able to show that a P320 will fire without the trigger being pulled.
There’s potentially a lot of money to be made by the tort bar if that’s ever proven (just ask the former, now bankrupt version of Remington). Plaintiffs’ lawyers have no doubt paid a lot of money to a lot of "experts" who have spent a lot of time trying to make that happen.
So far, however, no one has been able to do it. The only reasonable conclusion then is that’s because the P320 won’t fire without the trigger being pulled by someone or by some thing. Unless and until someone can demonstrate that, as one expert who appeared in that ABC News report years ago described it, all of this is nothing but "legal momentum."
Posted by: M. Murcek ||
09/20/2023 00:00 ||
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#1
While it is common for LEO's to carry cocked and loaded in ready to fire position in the holster. Many with the safety on, but some with it off.
In digging up a few investigative test videos on how accidental discharges happen. Tests, while holstered lean to situations where the pistol is not fully, or properly holstered.
[PJ] "Never embrace the ideals of socialism," leading Argentinian presidential candidate Javier Milei warned Americans in his interview with Tucker Carlson.
Socialism has been hurting Argentina for years, including the country’s current horrible inflation crisis, which is probably why Milei is leading in presidential polls ahead of his country’s next election. Tucker Carlson interviewed Milei last week, and the presidential candidate denounced socialism while warning America against the pernicious philosophy.
"Socialism is a violent, murderous, and impoverishing phenomenon," Milei told Tucker (transcription by MRC Business’s Tom Olohan). He urged the promotion of "ideals of freedom" to counter socialism. He also suggested impressing the necessity of ordinary workers on businesses. We must "wage a cultural war," he insisted.
Milei cautioned Americans, "Never embrace the ideals of socialism. Never allow yourselves to be seduced by the siren song of social justice. Don’t get caught up in that terrible concept that where there is a need there is a right."
[Investopedia] U.S. stocks were up Wednesday morning ahead of the Federal Reserve's latest interest rate decision, with investors watching closely for hints of future rate hikes.
The Dow Jones Industrial Average rose 0.4% in early trading, while the S&P 500 gained 0.2%. The Nasdaq hovered around flat.
Policymakers are widely expected to hold rates steady in response to cooling in the labor market, which is expected to help ease inflation. But the Fed has signaled it's leaving its options open, and markets will be sensitive to any indication that rates are likely to go up when it reconvenes in November.
The IPO parade started by Arm (ARM) last week continues today with marketing software firm Klaviyo debuting on the New York Stock Exchange after pricing its shares at $30, valuing the company at about $9.2 billion. It will trade under the symbol "KVYO."
Stocks dipped yesterday and some Treasury yields rose to their highest since 2007 as investors considered the possibility of the Fed sticking to their "higher for longer" messaging today.
#2
We've had two bad months in a row now (July, Aug) regarding inflation with month over month rate greater than June. If Sept and October are also bad the Fed will almost certainly up the rate by another 25 basis points.
Of course the UAW strike, the Kaiser Permanente strike and consumers running out of borrowing may deflate the economy enough that this rate increase isn't necessary. We'll see.
Posted by: lord garth ||
09/20/2023 15:23 Comments ||
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[Kiplinger] A property tax cap could help keep your property tax bill from increasing too much. That’s because these caps limit how much property taxes can increase from one period to the next. However, not all states have a property tax cap, and not all cap types are created equal. There is more than one type of property tax limit, and other factors play a role in tax bill amounts. Here’s what you need to know.
[Median property tax bills, home values, and effective tax rates are based on data provided by the US Census Bureau and presented by PropertyShark. The types of property tax limitations each state imposes are based on information from the Tax Foundation.]
#2
If the state is going to tell you what your property is worth, they should have to back it up with a section on the tax form where you check the box marked "At that price, I'll sell it to you" with a place to provide where to send the check.
Posted by: M. Murcek ||
09/20/2023 11:18 Comments ||
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#3
Not only is there no cap in MN but I just received a postcard from the local assessor saying one of his minions would be by with a camera to take pictures and they'd need to see the inside of the house. If you don't sign up for this home invasion, "assumptions... will be necessary." Sounds a lot like "nice little place you got here, be a shame if anything were to happen to it."
#4
None of us actually own these homes, we simply lease them from the gov't. If we stop paying the property tax lease, someone else will be moving in who will.
"Surviving spouses of military members killed in the line of duty are allowed a 100 percent property tax exemption on their primary residence, assuming they've not remarried. In the event of a disabled veteran's death, any existing exemptions pass on to the surviving spouse if they've not remarried."
[NYP] Most American adults have cut spending this year, according to a new CNBC-Morning Consult survey, which also revealed that consumers plan to stay frugal through the holidays.
A whopping 92% of adults have cut back on discretionary spending over the past six months, CNBC found after polling 4,403 US adults last week.
Consumers were most skittish when shopping for clothes and dining out at restaurants — 63% and 62%, respectively.
The news site’s poll also showed that consumers at all income levels are feeling pinched by the economy. While labor strikes in Hollywood and Detroit provoke fresh uncertainty, inflation rose a surprisingly stiff 3.7% last month — still well above the Federal Reserve’s 2% target.
Fifty-five percent of lower-income households earning $50,000 or less annually told CNBC that their personal finances are suffering from the state of the US economy, while 61% of middle-income earners bringing in $50,000 to $100,000 are feeling the squeeze.
#2
BTW: What's the usual reaction of a business when consumer sales/buying stagnates for months?
OBTW: If you own a house, your local Government is likely increasing its market value and demanding more Tax $$$$$ (even if you can't sell it).
So your house value goes up, local taxes increase, your home owners insurance increases to cover the new value. All of which means your Escrow account needs more $$$$.00.
So your monthly Home Loan payment just increased ##+% depending on your housing market area.
#5
Zeihan (he hasn't been mentioned in the comments here lately, so probably "out of favor" now - I have to admit I don't even try to keep up) says the US slowdown is hammering China.
Nice thought, if true.
Posted by: M. Murcek ||
09/20/2023 9:18 Comments ||
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#6
#1.
Really?.... Really?
Give me your address and I'll send you a bag of candy.
Posted by: Cleared Cookies Lost Nic ||
09/20/2023 10:22 Comments ||
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#9
f you own a house, your local Government is likely increasing its market value and demanding more Tax $$$$$.
I lost a building on my property during a thunderstorm and my property tax went up.
Posted by: Deacon Blues ||
09/20/2023 11:17 Comments ||
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#10
A lot of places have an "empty lot penalty" built into their property tax code.
Posted by: M. Murcek ||
09/20/2023 11:19 Comments ||
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[CBS] Olive oil prices spiked to fresh records as severe droughts in major producing countries crimp supplies — and drive up thefts in cooking oil.
Global prices for olive oil surged to $8,900 per ton in September, driven by "extremely dry weather" in the Mediterranean, according to a recent report by the United States Department of Agriculture. Already, the average price in August was 130% higher compared to the year before, and showed "no sign of easing," USDA said.
Spain, the world’s largest producer and exporter of olive oil, has been battered by an intense drought for months. The country also just recorded its third hottest summer, with the average summer temperature 1.3°C higher than normal, according to state meteorological agency AEMET.
#4
if you visit Spain and travel around you will notice that hundreds of thousands, maybe millions of acres have been planted with olive trees (Portugal did about the same but with cork oak trees).
regarding olive oil, there were price spikes to about $6k/ton in/about 1997 and 2006; olive oil prices crashed during the early part of the pandemic to about $1k/ton
Posted by: lord garth ||
09/20/2023 17:55 Comments ||
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#5
Cashier: "Your winnings, xir."
Me, having just bought 6 liters of tolerable Spanish stuff to ballast the fridge: "Wow, that'll pay for... several hours' rent!" Sigh.
#6
I get mine from Verde Valley Oil Traders in AZ (Cottonwood, Jerome). Cool place and delicious tasting rooms
Posted by: Frank G ||
09/20/2023 18:43 Comments ||
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#7
My grocery store was selling olive trees in pots the other day. About 18” tall and, if I understand correctly, about three decades before it produces fruit, but I was hit by the strongest craving to acquire a few... Must be my distant Middle Eastern heritage being triggered.
#8
Reminds me of terrible yen, forgotten for quarter- century, I had for a very tender (and otherwise sensitive) tropical osmanthus in somebody's catalog. Supposedly more or less everyblooming. Sounded like something you'd steal from a temple at risk of life and limb. Priced accordingly. Passed.
[France24] The agreement was to go into effect at 1 p.m. local time (0900 GMT), and talks between Azerbaijani officials and the breakaway region's ethnic Armenian authorities on its "re-integration" into Azerbaijan were scheduled to take place on Thursday in the Azerbaijani city of Yevlakh.
The deal was reached through negotiations with the Russian peacekeeping contingent in the region and envisions the withdrawal of Armenian military units and equipment from Nagorno-Karabakh, as well as disarming the local defense forces, according to the region's officials.
It comes a day after Azerbaijan launched a military operation in Nagorno-Karabakh and used heavy artillery fire on Armenian positions there, an attack that local officials said killed or wounded scores of people.
Azerbaijan has called the artillery fire an "anti-terrorist operation" and said it will continue until the separatist government of Nagorno-Karabakh dismantles itself and "illegal Armenian military formations" surrender.
It claimed to be only targeting military sites but significant damage is visible on the streets of the regional capital, Stepanakert, with shop windows blown out and vehicles punctured, apparently by shrapnel.
The blasts reverberated around Stepanakert every few minutes on Wednesday morning, with some explosions in the distance and others closer to the city.
[Breitbart] Ray Epps, an Arizona man who became the center of a conspiracy theory about Jan. 6, 2021, has been charged with a misdemeanor offense in connection with the U.S. Capitol riot, according to court papers filed Tuesday.
Epps, a former Marine who claimed in a lawsuit filed this year that Fox News Channel made him a scapegoat for the Capitol riot, is charged with a count of disorderly or disruptive conduct on restricted grounds, court records show.
Messages seeking comment from an attorney representing Epps in his lawsuit against Fox were not immediately returned Tuesday. There was no attorney listed in the court docket in the criminal case filed in Washington’s federal court.
Epps was falsely accused by Fox of being a government agent who was whipping up trouble that would be blamed on Trump supporters, his lawsuit claims.
Although the lawsuit mentions Fox’s Laura Ingraham and Will Cain, former Fox host Tucker Carlson is cited as the leader in promoting the theory. Epps was featured in more than two dozen segments on Carlson’s prime-time show, the lawsuit said. Messages seeking comment were sent Tuesday to Fox News and a lawyer for Carlson.
Epps’ lawsuit against Fox says the Justice Department told him in May that he faces criminal charges for his actions on Jan. 6 and blames that on "the relentless attacks by Fox and Mr. Carlson and the resulting political pressure."
#4
"DOJ Gives Ray Epps the James Wolfe Treatment – Charged with One Misdemeanor Count, With Background Plea Deal in Place AND James Boasberg as the Pre-Selected Judge"
"September 20, 2023 | Sundance | 154 Comments
The man who was seen on multiple video tapes urging the January 6th crowd to storm the Capitol building, the previously well-known agent provocateur Ray Epps, has been charged by the DOJ with one misdemeanor count of “Disorderly or Disruptive Conduct.”
Worse still, the announcement from Main Justice comes via the format of an “information” {SEE HERE} which implies a plea deal was already reached as the charge was made public. Now the DOJ can say they ‘arrested‘ the guy, and simultaneously flip the narrative as evidence he wasn’t a confidential human source."
A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.
Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing
the drug and gang related violence in Mexico.
Chris gives us Mexican press dispatches of drug and gang war violence
over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has
dominated Mexico for six years.
Rantburg was assembled from recycled algorithms in the United States of America. No
trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
[IsraelTimes] Suit alleges Sam Bankman Fried’s parents were part of massive FTX scam
[TCD] There are few more magnificent places in the world than 
