Sam Bankman-Fried’s two anonymous sponsors put up $700,000 to get him out of jail
Sam Bankman-Fried was released on bond after two anonymous individuals put up a total of $700,000, according to court filings. Bankman-Fried, the disgraced former crypto mogul whose FTX exchange declared bankruptcy in November, has been under house arrest in his parents’ $4 million Palo Alto, Calif., home since last month. He was released from federal custody in […]
Holy high rollers: phony pastors targeted immigrants in $28 million Ponzi scheme
“I’m everything you imagine me to be, as long as it’s good and it’s Godly.” That’s how Dennis Jali, a South African self-proclaimed finance guru sold his Christian-themed program of financial success to crowds of mainly African immigrants at churches and banquet halls in and around Baltimore and Washington, D.C. But while Jali claimed he […]
Credit Acceptance shares tumble 12% after regulators sue, claim illegal subprime auto lending practices
Shares of subprime auto giant Credit Acceptance Corp CACC, -11.61% tumbled about 12% on Wednesday after New York Attorney General Letitia James and a key U.S. consumer watchdog sued the lender, saying it has been illegally tricking low-income borrowers into high-cost car loans that lead to a debt spiral. The lawsuit aims to force Credit […]