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Caroline Ellison, key witness in FTX fraud case, set to be sentenced
Court Watch |
2024/09/24 21:42
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Caroline Ellison, a former top executive in Sam Bankman-Fried ’s fallen FTX cryptocurrency empire, faces the possibility of years in prison when she is sentenced Tuesday for fraud, but prosecutors said she deserves leniency for her “extraordinary cooperation” as they investigated the company.
Ellison, 29, pleaded guilty nearly two years ago and testified against Bankman-Fried for nearly three days at a trial last November.
In a court filing, prosecutors said said her testimony was the “cornerstone of the trial” against Bankman-Fried, 32, who was found guilty of fraud and sentenced to 25 years in prison.
Asking the court for a lighter sentence, Ellison’s own lawyers cited both her testimony at the trial and the trauma of her off-and-on romantic relationship with Bankman-Fried — though they also stressed that she wasn’t trying to evade responsibility for her crimes.
“Caroline blames no one but herself for what she did,” her lawyers wrote in a court filing. “She regrets her role deeply and will carry shame and remorse to her grave.”
FTX was one of the world’s most popular cryptocurrency exchanges, known for its Superbowl TV ad and its extensive lobbying campaign in Washington, before it collapsed in 2022.
U.S. prosecutors accused Bankman-Fried and other top executives of looting customer accounts on the exchange to make risky investments, make millions of dollars of illegal political donations, bribe Chinese officials and buy luxury real estate in the Caribbean.
Ellison was chief executive at Alameda Research, a cryptocurrency hedge fund controlled by Bankman-Fried that was used to process some customer funds from FTX.
Her work relationship with Bankman-Fried was complicated by her romantic feelings for him, her lawyers wrote in a court filing.
“From the start, Mr. Bankman-Fried’s behavior was erratic and manipulative. He initially professed strong feelings for Caroline and suggested their liaison would develop into a full relationship. But after a few weeks, he would ‘ghost’ Caroline without explanation, avoiding her outside of work and refusing to respond to messages that were not work-related,” her lawyers said.
As the business began to faulter, Ellison divulged the massive fraud to employees who worked for her even before FTX filed for bankruptcy, her lawyers wrote.
Ultimately, she also spoke extensively with U.S. investigators. |
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Senior Hong Kong journalist is sentenced to prison in sedition case
Legal Interview |
2024/09/20 21:38
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A Hong Kong court sentenced a former editor of a shuttered news publication to 21 months in prison on Thursday in a sedition case that is widely seen as an indicator of media freedom in the city, once hailed as a beacon of press freedom in Asia. A second editor was freed after his sentence was reduced because of ill health and time already served in custody.
Former Stand News editor-in-chief Chung Pui-kuen and former acting editor-in-chief Patrick Lam are the first journalists convicted under a colonial-era sedition law since the former British colony returned to Chinese rule in 1997. Chung was sentenced to 21 months, while Lam was also sentenced but allowed to go free.
The news outlet was one of last in Hong Kong that dared to criticize authorities as Beijing imposed a crackdown on dissidents following massive pro-democracy protests in 2019.
The closure came months after the demise of pro-democracy newspaper Apple Daily, whose jailed founder Jimmy Lai is battling collusion charges under a tough national security law imposed by Beijing in 2020.
Last month, the court found Chung and Lam guilty of conspiracy to publish and reproduce seditious materials, along with Best Pencil (Hong Kong) Ltd., Stand News’ holding company. They faced up to two years in prison and a fine of 5,000 Hong Kong dollars (about $640).
Judge Kwok Wai-kin began the sentencing hearing two hours after the scheduled time. The journalists’ lawyer, Audrey Eu, requested a sentence mitigation, saying Lam had been diagnosed with a rare disease and she was concerned that he could not be treated by the hospital handling his case if he were sent to jail again.
She argued that they be sentenced to up to time served, saying their case was different because they were journalists whose duties were to report different people’s views. The pair were detained for nearly a year after their arrests before being released on bail in late 2022.
In his sentencing, Kwok said the defendants were not genuine journalists but had participated in the territory’s resistance movement.
Kwok wrote in his verdict in August that Stand News had become a tool for smearing the Beijing and Hong Kong governments during the 2019 protests. He ruled that 11 articles published under the defendants’ leadership carried seditious intent, including commentaries written by activist Nathan Law and veteran journalists Allan Au and Chan Pui-man. Chan, who is also Chung’s wife, earlier pleaded guilty in the Apple Daily case and is in custody awaiting her sentence.
Kwok said Lam and Chung were aware of and agreed with the seditious intent, and that they made Stand News available as a platform to incite hatred against the Beijing and Hong Kong governments and the judiciary.
Eu told the court that the articles in question represented only a small portion of what Stand News had published. The defendants also stressed their journalistic mission in their mitigation letters.
On Thursday morning, dozens of people waited in line to secure a seat in the courtroom. Former Stand News reader Andrew Wong said he wanted to attend the hearing to show his support, though he felt it was like “attending a funeral.” Wong, who works in a non-governmental organization, said he expected the convictions last month, but still felt “a sense that we’ve passed a point of no return” when he heard the verdict.
“Everything we had in the past is gone,” he said. Their trial, which began in October 2022, lasted some 50 days. The verdict was postponed several times for reasons including a wait for an appeal outcome in another landmark sedition case.
Hong Kong was ranked 135 out of 180 territories in Reporters Without Borders’ latest World Press Freedom Index, down from 80 in 2021, and 18 in 2002.
Self-censorship has also become more common during the political crackdown on dissent following the 2019 protests, with increased reports of harassment against journalists in recent months. In March, the city government enacted another new security law that raised concerns about further curtailment of press freedom. |
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Algerian court certifies Tebboune’s landslide reelection win
Court Watch |
2024/09/14 18:06
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Algeria’s constitutional court on Saturday certified the landslide victory of President Abdelmadjid Tebboune in last weekend’s election after retabulating vote counts that he and his two opponents had called into question.
The court said that it had reviewed local voting data to settle questions about irregularities that Tebboune’s opponents had alleged in two appeals on Monday.
“After verification of the minutes of the regions and correction of the errors noted in the counting of the votes,” it had lowered Tebboune’s vote share and determined that his two opponents had won hundreds of thousands more votes than previously reported, said Omar Belhadj, the constitutional court’s president.
The court’s decision makes Tebboune the official winner of the Sept. 7 election. His government will next decide when to inaugurate him for a second term.
The court’s retabulated figures showed Tebboune leading Islamist challenger Abdellali Hassan Cherif by around 75 percentage points. With 7.7 million votes, the first-term president won 84.3% of the vote, surpassing 2019 win by millions of votes and a double-digit margin.
Cherif, running with the Movement of Society for Peace, won nearly 950,000 votes, or roughly 9.6%. The Socialist Forces Front’s Youcef Aouchiche won more than 580,000 votes, or roughly 6.1%.
Notably, both challengers surpassed the threshold required to receive reimbursement for campaign expenses. Under its election laws, Algeria pays for political campaigns that receive more than a 5% vote share. The results announced by the election authority last week showed Cherif and Aouchiche with 3.2% and 2.2% of the vote, respectively. Both were criticized for participating in an election that government critics denounced as a way for Algeria’s political elite to make a show of democracy amid broader political repression.
Throughout the campaign, each of the three campaigns emphasized participation, calling on voters and youth to participate and defy calls to boycott the ballot. The court announced nationwide turnout was 46.1%, surpassing the 2019 presidential election when 39.9% of the electorate participated.
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Protesters storm Mexico’s Senate after ruling party wins votes for court overhaul
Court Issues |
2024/09/11 15:22
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Hundreds of protesters broke into Mexico’s Senate on Tuesday as lawmakers weighed a contentious plan to overhaul the country’s judiciary, forcing the body to take a temporary recess for the safety of the senators.
The shut down came just hours after Mexico’s ruling party, Morena, wrangled the votes it needed to jam through the proposal after one member of an opposition party flipped to support it.
That move and other political maneuvering ahead of a vote on the plan championed by outgoing President Andrés Manuel López Obrador fueled even more outrage after weeks of protests by judicial employees and law students.
Critics and observers say the plan, in which all judges would be elected, could threaten judicial independence and undermine the system of checks and balances.
Some protesters entered the Senate chambers in an effort to block the vote after they said lawmakers were not listening to their demands. Protesters broke through the door of the Senate chamber pushing aggressively, using pipes and chains. At least one person fainted after protesters broke in.
“The judiciary isn’t going to fall,” yelled the protesters, waving Mexican flags and signs against the overhaul. They were joined by a number of opposition senators as they chanted in the chamber. Others outside the court roared when newscasters announced the Senate was taking a recess.
Among them was Alejandro Navarrete, a 30-year-old judicial worker, who said that people like him working in the courts “knowing the danger the reform represents” came to call on the Senate to strike down the proposal.
“They have decided to sell out the nation, and sell out for political capital they were offered, we felt obligated to enter the Senate,” he said, carrying a Mexican flag. “Our intention is not violent, we didn’t intend to hurt them, but we intend to make it clear that the Mexican people won’t allow them to lead us into a dictatorship.”
Despite unrest in recent weeks, the plan sailed through the lower chamber of Congress last week, and was passed onto the Senate, where López Obrador’s Morena party lacked the necessary supermajority to approve it. In recent weeks, it was able to peel off two senators from an opposition party, but came into this week still missing one more.
It was unclear where that vote would come from because the country’s opposition vehemently opposes the plan. But over the weekend, observers began to speculate that a senator from the conservative National Action Party (PAN), Miguel Ángel Yunes Márquez, would support Morena as he refused to answer calls from his party leadership.
On Tuesday, Yunes Márquez announced he would take leave due to health issues and be replaced by his father, Miguel Ángel Yunes Linares, a former governor of Veracruz said he would vote for the plan. He said he knew the plan was “not the best” but said more laws down the line could improve it.
“Mexico is not going to be destroyed for approving this reform, nor will the reform automatically change the reality of a justice system that is calling out for fundamental change,” Yunes Linares said.
Yunes Linares strolled into the Senate chambers and was met with applause and chants of “hero!” by Morena senators and screams of “traitor!” from his own party. One PAN senator, Lilly Téllez, even threw dozens of coins at Yunes Linares, calling him a ”traitor who sold out his country” for his own benefit. A Senate vote was expected Wednesday.
The national head of PAN, Marko Cortés, claimed that it “is evident” that there was an “impunity pact” between the Yuneses and the government so he would vote in favor of the overhaul. Cortés was referring to a July arrest order for Sen. Yunes Márquez, for alleged falsification of documents and fraud related to his candidacy.
Yunes had challenged it and got a temporary suspension, calling it a political persecution by the governing Morena party, the same party his father now appears ready to support.
His father, Yunes Linares, dodged questions from the media about how he would vote but accused Cortés of “lynching” him and claimed it was “absolutely false” that he has been coerced to vote for the overhaul. He was flanked by two Morena senators as he spoke.
A Yunes vote in favor would allow the ruling party to clear the biggest hurdle in making the proposal law. If it passes the Senate, it will have to be ratified by the legislatures of 17 of Mexico’s 32 states, but the governing party is believed to have the necessary support.
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