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Money

Indicted Republican lawmaker George Santos expelled from US House

WASHINGTON, Dec 1 (Reuters) - Indicted Republican George Santos' brief career in the U.S. House of Representatives came to an end on Friday, when fellow lawmakers voted to expel him over criminal corruption charges and accusations of misspending campaign money.The House voted 311-114 to immediately remove the controversial freshman lawmaker, above the two-thirds majority required to oust one of its own.Besieged by revelations of lies about his past, a federal criminal indictment and a congressional ethics probe, Santos, 35, became only the sixth member to be expelled from the House....
Cryptocurrency

Jury in FTX founder Sam Bankman-Fried’s fraud trial begins deliberations

NEW YORK, Nov 2 (Reuters) - The jury in Sam Bankman-Fried's fraud trial began deliberations on Thursday following a monthlong trial in which prosecutors accused the FTX cryptocurrency exchange founder of stealing billions of dollars of customer funds.Bankman-Fried is poised to learn his fate in Manhattan federal court nearly a year after FTX declared bankruptcy as its customers raced to withdraw their funds in a collapse that shocked cryptocurrency markets and obliterated the 31-year-old's fortune, once estimated by Forbes at $26 billion.Bankman-Fried has pleaded not guilty to two counts of...
Banking

Ex-Deutsche Bank investment banker pleads guilty to crypto fraud

Representations of cryptocurrencies are seen in this illustration, August 10, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Sept 19 (Reuters) - A former Deutsche Bank (DBKGn.DE) investment banker, who was charged in April with misappropriating funds from investors he wooed with promises of big returns from cryptocurrency trading, pleaded guilty on Tuesday, the U.S. Justice Department said.Rashawn Russell faces up to 30 years in prison when sentenced, the Justice Department said in a statement. As part of his plea agreement, Russell will be required to pay restitution in the amount...
Cryptocurrency

What makes a crypto asset a security in the U.S.?

June 7 (Reuters) - Determining whether digital tokens are securities will be central to the high-stakes case brought by U.S. regulators alleging crypto platforms Coinbase (COIN.O) and Binance violated the law by failing to register as a securities exchange, broker and clearing agency.WHAT IS THE SEC ALLEGING?The Securities and Exchange Commission (SEC) sued Coinbase on Tuesday in Manhattan federal court and accused the largest U.S. cryptocurrency platform of operating illegally by evading disclosure requirements.The SEC said Coinbase allowed users to trade at least 13 crypto assets that should have been...
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