Sam Bankman-Fried ordered the co-founder of his cryptocurrency exchange FTX to create a secret backdoor that allowed his hedge fund Alameda Research to borrow $65 billion of clients money without their permission, according to testimony over the firms implosion. Gary Wang was told to create a secret line of credit using customer funds from FTX…
In the newly released 2023 edition of The Legal 500 Asia Pacific, Squire Patton Boggs has been recommended in 19 practice areas. There were 47 lawyers achieving recognition for their expertise, two of whom were named in the elite Hall of Fame list, and a further five noted as Leading Individuals. In the 2023 guide,…
An artist with Royal, political and sports celebrity connections has been caught abusing a BounceBack Loan. The Insolvency Service says the case is a warning that there are consequences following disqualification which is a lengthy exclusion from trading with the benefit of limited liability. The Insolvency Service has reported that artist Darren Baker has abused…
The owner of the Byron Burger chain has said it will close nine restaurants and cut 218 jobs in another restructure of the business. Famously Proper Ltd, which also controls the Mother Clucker fried chicken brand, blamed rising costs and lower consumer spending for the move. It is the third time since 2018 that the…
Christian D. Menefee, the Harris County Attorney, has joined dozens of other local leaders in an amicus brief supporting the White House as they get set to argue in front of the Supreme Court over student debt relief. Menefee joins other signatories from 23 states in the brief for Biden v. Nebraska, which will be…
Creditors of crypto lender Hodlnaut rejected a restructuring plan for the company, according to a Bloomberg report that cited a Jan. 11 filing. Their preference is for the liquidation of the firm, saying it better serves their interests, according to the filing prepared by Hodlnaut’s interim judicial managers, Bloomberg said Friday. The proposed restructuring plan…
Receive free Gambling industry updates Well send you a myFT Daily Digest email rounding up the latest Gambling industry news every morning. Betting company 888 said its finance chief would leave the business later this year as it posted a drop in revenues. Chief financial officer Yariv Dafna would step down at the end of…
Financially troubled Danish crew transfer vessel operator World Marine Offshore (WMO) has been declared bankrupt. According to the State Gazette, the Court in Esbjerg took the company under bankruptcy proceedings earlier this week following a petition on January 6. John Sommer Schmidt of the law firm Gorrissen Federspiel, who is the trustee of the estate,…
COLUMBUS With legalized sports betting arriving in Ohio on Jan. 1, 2023, Ohio For Responsible Gambling (ORG) launched a new effort to educate Ohioans on the dangers of problem gambling and how to play responsibly. Pause Before You Play is a spinoff of Get Set Before You Bet, an award-winning problem gambling education effort from…
Unanimously, the 8th Chamber of Private Law of the Court of Justice of So Paulo determined the conviction of a sports betting site to pay a prize of R$ 119 thousand to a user whose guess was not registered on the platform due to an error in the system. The plaintiff stated that she made…