Caroline Ellison Apologizes for Misconduct in FTX Collapse

Caroline Ellison Apologizes for Misconduct in FTX Collapse

Caroline Ellison, a close associate of FTX founder Sam Bankman-Fried, apologized in court this week as she pleaded guilty to fraud and other offenses, telling a judge that she and others conspired to steal billions of dollars from customers of the doomed crypto exchange while misleading investors and lenders. “I am truly sorry for what … Read more

Jan. 6 Committee Releases Final Investigative Report on Capitol Attack

Jan. 6 Committee Releases Final Investigative Report on Capitol Attack

WASHINGTON—The House’s Jan. 6 select committee released its final investigative report Thursday, a sprawling capstone of more than 800 pages to the panel’s 18-month probe into the violent attack on the Capitol by a mob of supporters of former President Donald Trump. Earlier this week, the committee—made up of seven Democrats and two Republicans critical … Read more

Sam Bankman-Fried Released on $250 Million Bond

Sam Bankman-Fried Released on $250 Million Bond

FTX founder Sam Bankman-Fried was released on a $250 million bond Thursday and ordered to detention in his parents’ Palo Alto, Calif., home, after the former executive’s first appearance in a New York federal court following his extradition from the Bahamas. Mr. Bankman-Fried left the courthouse in a black SUV. At a later date he … Read more

Tesla, GM Among Car Makers Facing Senate Inquiry Into Possible Links to Uyghur Forced Labor

Tesla, GM Among Car Makers Facing Senate Inquiry Into Possible Links to Uyghur Forced Labor

WASHINGTON—The Senate Finance Committee has opened an inquiry into whether auto makers including Tesla Inc. and General Motors Co. are using parts and materials made with forced labor in China’s Xinjiang region. In a letter sent Thursday, the committee asked the chief executives of eight car manufacturers to provide detailed information on their supply chains … Read more

Supreme Court Temporarily Blocks Biden From Ending Trump-Era Border Policy

Supreme Court Temporarily Blocks Biden From Ending Trump-Era Border Policy

WASHINGTON—Chief Justice John Roberts temporarily extended a Trump-era policy that bars asylum applicants from entering the U.S. to protect the American population from Covid-19, issuing a brief order on Monday that maintains the status quo while the Supreme Court considers an emergency request from Republican-led states to keep the exclusions in place. In November, a … Read more

Epic Games, Maker of ‘Fortnite,’ to Pay $520 Million to Resolve FTC Allegations

Epic Games, Maker of ‘Fortnite,’ to Pay $520 Million to Resolve FTC Allegations

Epic Games Inc. has agreed to pay $520 million to resolve Federal Trade Commission allegations that the “Fortnite” videogame developer violated online privacy protections for children and tricked players into making unintended purchases. The FTC said the agreement consisted of two record-breaking settlements that resolve a pair of civil complaints it was filing against Epic. … Read more

FTX’s Sam Bankman-Fried Charged With Criminal Fraud, Conspiracy

FTX’s Sam Bankman-Fried Charged With Criminal Fraud, Conspiracy

FTX founder Sam Bankman-Fried oversaw one of the biggest financial frauds in American history, a top federal prosecutor said in charging that the former chief executive stole billions of dollars from the crypto exchange’s customers while misleading investors and lenders. An indictment by the U.S. attorney’s office for the Southern District of New York, unsealed … Read more

Albertsons’ $4 Billion Dividend Payout Remains Blocked

Albertsons’ $4 Billion Dividend Payout Remains Blocked

Kroger is the top U.S. supermarket operator by sales. Photo: elijah nouvelage/Agence France-Presse/Getty Images Updated Dec. 10, 2022 3:16 pm ET A Washington state judge on Friday extended a temporary restraining order blocking a $4 billion dividend that Albertsons ACI -0.88% Cos. planned to pay its shareholders amid its plans to be bought by Kroger … Read more

Theranos Ex-President Sunny Balwani to Be Sentenced Today

Theranos Ex-President Sunny Balwani to Be Sentenced Today

SAN JOSE, Calif.—When Theranos Inc.’s former No. 2 executive is sentenced on Wednesday, he may get a longer prison term than his boss, who was at the center of the fraud at the company she founded.  Mr. Balwani’s former business partner and ex-girlfriend, Theranos founder Elizabeth Holmes, was sentenced last month to 11¼ years for … Read more

Hertz to Pay $168 Million to Settle False-Arrest Allegations

Hertz to Pay $168 Million to Settle False-Arrest Allegations

Hertz Global Holdings Inc. said it would pay about $168 million to settle 364 pending claims related to vehicle-theft reporting, some instances of which have allegedly led customers to face wrongful arrest for car theft. The hundreds of settlements resolve more than 95% of outstanding claims, Hertz said. The company said it doesn’t expect the … Read more