we heard compelling testimony from sam bankman-fried's new lawyer about sam bankman-fried.ho he is, who he was, what has animated him. really he's an awkward math nerd. this is a phrase we heard from time memorial going back to when he was running ftx. he has a social awkwardness. he said sam has lost everything. being shamed by the globe seems to be enough specific deterrence. they are looking at him and consummate with other fraudsters throughout time. bernie made off of course. elizabeth holmes. he's a young man with no criminal difficulties or issues before this. there is no need to be excessively punitive towards him. that is the argument they are making in the sentencing filing. it is unclear how a resident that's going to be with the judge. he has been palpably irritated by sam bateman free throughout the course of this process, going to the beginning before the trial, the pretrial hearings when we saw him flouting the rules put in place on his house arrest. ed: david gura, stay close. we will bring real-time updates as we get them from inside the courthouse. let's k

the players like sam bankman—fried might be new.s kind of corruption, is as old as time, and we have no patience for it. the court case saw his former staff and even his girlfriend testify against him. his chief crime was that he illegally used customer deposits from ftx to fund his other business. prosecutors are asking the judge to sentence him to 50 years in prison, but his defence team want around five years. they argue that most of the billions of dollars bankman—fried lost have now been recovered, but critics say he shows no remorse. in an interview in his luxury apartment complex in the bahamas just before he was arrested, he admitted to making mistakes but claimed it wasn't deliberate. were you incompetent or were you fraudulent? i didn't knowingly commit fraud. i don't think i committed fraud. i didn't want any of this to happen. i was certainly not nearly as competent as i thought i was. but a convicted criminal he now is. and it's up to a judge to decide how long he'll be behind bars for one of the biggest financial crime

sam bankman-fried washa c to's laundering? sam bankman-fried washa crypto's golden — laundering?en boy. _ laundering? sam bankman-fried washa crypto's golden boy, he _ laundering? sam bankman-fried washa crypto's golden boy, he was _ laundering? sam bankman-fried washa crypto's golden boy, he was the - crypto's golden boy, he was the founder of the ftx cryptocurrency exchange where customers could come and exchange their dollars and pounds for a cryptocurrency, and he assured those customers, as his ftx exchange was collapsing, that their money was safe. but when customers went to withdraw their funds, the funds were not there. the jury found that money had been moved to an investment fund and that sam bankman—fried use that money to enrich himself and his inner circle, to make political donations and charitable donations, dubai luxury real estate. when customers went to pull the money out, it wasn't there. now, thank you very much. that is our correspond in there at the courthouse. if there is more reaction in new york, will return there. with me is our cyber correspondent, joe

the said that does not absolve sam bankman-fried. the prosecution was able to _ bankman-fried. was able to show— bankman-fried. the prosecution was able to show multiple - bankman-fried. the prosecution was able to show multiple times | was able to show multiple times where sam had the opportunity to do the right thing, to come clean and he chose not to do so. , , ~ so. during sentencing, the 'udue so. during sentencing, the judge harp _ so. during sentencing, the judge harp and _ so. during sentencing, the judge harp and back - so. during sentencing, the judge harp and back to - judge harp and back to testimony from the star witness, caroline ellison, the former girlfriend of sam bankman—fried and head of his crypto hedge fund. she painted the man known by his initials, sbs, as hungry for influence. now facing decades behind bars, his risk—taking days are over. in new york, erin delmore. a spokesperson for mr bankman—fried told the bbc that he will be appealing the verdict.mr bankman—fried's parents said in a statement that they were "heartbroken" and will continue to fight fo

sam bankman-fried is not having that luxury. neil: you look at the impact of prominent sentencing and the reverberation it has. i was looking at other corporate scandals, and it is not as if all of a certain everyone in the financial world becomes a saint or candidate for pope. this does keep happening. >> it is so right but these are crimes committed for one motive. few people are able in circles in which he ran are able to control that particular emotion. i don't mind a lower sentence for someone who comes in and says judge, victims, i am sorry, i beg forgiveness and do everything to cooperate and everything to make things right. this guy did the opposite. he got on the witness stand, tried to blame others, he hasn't told anybody where the trails of money lead and who else was involved in criminal conduct. it wasn't just him. he was the leader. charles: the victims, because people get most of their money back, this is what judge kaplan was thinking, the victim aspect of this is pretty weak. the point you made this keeps happen

sam bankman—fried is the first. people. sam bankman-fried is the first. . ., , people. ., first. the prosecutions are coming in, accountability _ first. the prosecutions are coming in, accountability is _ first. the prosecutions are coming in, accountability is coming - first. the prosecutions are coming in, accountability is coming in, - first. the prosecutions are coming l in, accountability is coming in, how has the crypto—industry evolved? are we any closer to regulation since 2022? ,., , ., ., 2022? the point is to evade regulation _ 2022? the point is to evade regulation that _ 2022? the point is to evade regulation that is _ 2022? the point is to evade regulation that is the - 2022? the point is to evade regulation that is the only l 2022? the point is to evade l regulation that is the only use 2022? the point is to evade - regulation that is the only use of crypto working around rules. you could make a moral case, but mostly regulations exist for reasons. without that unique selling point, crypto doesn't have a lot to do. anything it does you can do better with

he was also not convinced that sam bankman—fried had shown enough remorse.ain, so thatis treat people potentially again, so that is why he settled on this lengthy sentence, one that white collar lawyers, professors have been telling me seems to be the right amount, that it felt right for them and one that would be hard to challenge. it's the easter weekend and, for many people, that means easter eggs. they are enjoyed around the world, but you may find that they're getting getting smaller and more expensive. that's because of the rising cost of cocoa after a droughts in west africa, which produces 70% of the world's cocoa beans. welljoining me is ben greensmith, the uk and ireland manager thank you so much forjoining us. what impact has this real surge in prices having on your business? hi. it has prices having on your business? h it has been really well publicised at the moment that the price of cocoa is at a 45 year high. coco is the main ingredient that goes into chocolate bars. everyone likes eating chocolate, nobody really thinks about where it is comin

he said sam bankman-fried in his statement showed no remorse.others for things that went wrong. today sam pointed to the bankruptcy estate as being a bad actor and the reason customers were not made whole. he said that the money has always been there and continues to be there and that goes to a larger narrative that came up where judge kaplan said, you know, i can name at least three times when sam perjured himself in october he said today's statement was an extension of that, still not accepting blame for his role >> mackensie, can you give us an idea of the emotional temperature in the courtroom as that sentence was read both from sam bankman-fried himself but also his parents >> it's really his mom who showed the most emotion today. you saw her jaw quivering for the duration of the roughly two-hour sentencing hearing. she would often at times when the conversation was escalating, you can see the manhattan skyline, her husband seated right next to her completely folded over, just parents who are really devastated by seeing what's happened to t

the players like sam bankman—fried might be new. this kind of corruption, is as old as time, and we have no patience for it. the court case saw his former staff and even his girlfriend testify against him. his chief crime was that he illegally used customer deposits from ftx to fund his other business. prosecutors are asking the judge to sentence him to 50 years in prison, but his defence team want around five years. they argue that most of the billions of dollars bankman—fried lost have now been recovered, but critics say he shows no remorse. in an interview in his luxury apartment complex in the bahamas just before he was arrested, he admitted to making mistakes but claimed it wasn't deliberate. were you incompetent or were you fraudulent? i didn't knowingly commit fraud. i don't think i committed fraud. i didn't want any of this to happen. i was certainly not nearly as competent as i thought i was. but a convicted criminal he now is. and it's up to a judge to decide how long he'll be behind bars for one of the biggest financial c

sam bankman—fried there.ey into ftx, before it collapsed. we heard about his extravagant lifestyle. but that collapse happened and so many people losing all their money. one british investor talking to the bbc saying that they had invested more than $2 million worth of holdings on the exchange when it collapsed. i am just hearing that reuters is marking a correction to what they have reported. apparently that tariff is 25 years. an immediate correction from the reuters news agency, that jail sentence has beenjust handed down, it is 25 years. let me tell you a little more of the detail, the judge talking about the lack of remorse. thejudge providing a harsh assessment, saying it was clear that bankman—fried was motivated by a drive to be politically influential. he said despite protestations of sorrow about customer losses. he had never said a word of remorse for the commission of terrible crimes. some stinging comments from the judge. commission of terrible crimes. some stinging comments from thejudge. he als

the players like sam bankman—fried might be new.urt case saw his former staff and even his girlfriend testify against him. his chief crime was that he illegally used customer deposits from ftx to fund his other business. prosecutors are asking the judge to sentence him to 50 years in prison, but his defence team want around five years. they argue that most of the billions of dollars bankman—fried lost have now been recovered, but critics say he shows no remorse. in an interview in his luxury apartment complex in the bahamas just before he was arrested, he admitted to making mistakes but claimed it wasn't deliberate. were you incompetent or were you fraudulent? i didn't knowingly commit fraud. i don't think i committed fraud. i didn't want any of this to happen. i was certainly not nearly as competent as i thought i was. but a convicted criminal he now is. and it's up to a judge to decide how long he'll be behind bars for one of the biggest financial crimes in us history. joe tidy, bbc news. stephanie hare is a technology author and

decades behind bars — sam bankman—fried, one of crypto's biggest personalities, has been sentenced.ll have the details. and you may be paying more for chocolate this easter. find out why later in the programme. hello and a warm welcome to asia business report. i'm steve lai. we begin in the us where the co—founder of the failed crypto exchange ftx, sam bankman—fried, has been sentenced to 25 years in prison for defrauding customers and investors of his now—bankru pt firm. the ruling cements the downfall of the former billionaire, who emerged as a high profile champion of crypto before his firm's dramatic collapse in 2022. the bbc�*s erin delmore has the latest from new york. a stunning fall for sam bankman—fried, a crypto exchange founder and mogul in the industry who graced the cover of forbes magazine and appeared on stage with tony blair and bill clinton. american football player, tom brady, and supermodel, gisele bundchen, starred in his company's ads. he spoke in front of congress as a leader in the burgeoning crypto industry. he founded the cryptocurrency, exchange fdx, where

at the time, this was - huge, sam bankman-fried was a hero huge, sam bankman—fried was a hero to the that this coin will be worth something tomorrow because there is no financial institution backing it. it's how much money people are prepared to pay for it. for people like sam bankman—fried, followers on social media, going around the world, shaking hands with the great and good of the politics world, he was a big figure and the empire was massive. if the x was the second biggest crypto exchange in the world and it came crashing down. you can see on the chart of bitcoin valley you can see where it happened, there was a drop. i asked him, have you killed crypto? it was in the doldrums. we had seen previous scandals in 2022 and his was the worst by far. he said at the time i hope not, and i don't think it has because i think it stronger than that. it turns out he was right. if you look at the state of crypto now it has slowly this year built up and built up and it is stronger than ever. . ~' built up and it is stronger than ever. ., ~ , ., y built up and it is stronger than ever. ., ~

with people like sam bankman—fried, shaking _ with people like sam bankman—fried, shaking hands— withlike sam bankman—fried, shaking hands with _ with people like sam bankman—fried, shaking hands with people _ with people like sam bankman—fried, shaking hands with people in- with people like sam bankman—fried, shaking hands with people in the - shaking hands with people in the politics— shaking hands with people in the politics world _ shaking hands with people in the politics world come _ shaking hands with people in the politics world come he _ shaking hands with people in the politics world come he was - shaking hands with people in the politics world come he was a - shaking hands with people in the politics world come he was a big| politics world come he was a big figure _ our panel tonight is — justine greening, former conservative mp and a minister for women and equalities. and anneke green who's a founding partner at reach global strategies and a former speech writer for president george w. bush. first — the latest headlines. a new yorkjudge has sentenced the former king of cry

we have reporters, i our reporter says sam bankman-fried our reporter says sam bankman—fried came int, she said he has come in and his big hair style has come back during the court case, it was trimmed to look smart before, this is months since he was convicted. i am expecting there will be a little bit of a speech from the defence and prosecution but that is performative because we have had these months since the conviction, and the judge has made up his mind. the reason highlights their interest in this case it because we don't know what you will get, 40—50 years, or 5—6. has any of the money that was fraudulently taken from investors been paid back? hat fraudulently taken from investors been paid back?— fraudulently taken from investors been paid back? not yet. there are about 1.2 million _ been paid back? not yet. there are about 1.2 million people _ been paid back? not yet. there are about 1.2 million people still- been paid back? not yet. there are about 1.2 million people still out i about 1.2 million people still out upon from the collapse of ftx. they couldn't withdraw their

of course there'll be an appeal but as of today, 25 years for sam bankman-fried.eone who's only 32. back to you. ashley: no doubt. kelly, thank you very much. let's get to greg jarrett on the phone with us. an attorney and someone who's obviously been following this very carefully. gregg, what's your reaction for 25 years for sam? >> he was lucky because prosecutors asked for more than 50 years and sounds like the judge was not buying into the defense's argument and in fact the judge said, you know, the defendant committed perjury. which is an aggravating factor in terms of calculating the amount of time he should be served. the defense wanted five years saying he's not going to socialize well in prison, which is a bit laughable. that he suffers from this condition in which he can't enjoy anything. well, you're not supposed to enjoy anything behind bars. you know, his argument, the judge wasn't buying that, you know, these investors who lost $8 billion were made whole. no, they weren't made whole. they weren't receiving today's value on cryptocurrency. ashley: yea

first let's talk about about sam bankman—fried as a person.o viewers who he was and what happened-— explained to viewers who he was and what happened. it was incredible. he tositioned what happened. it was incredible. he positioned himself _ what happened. it was incredible. he positioned himself as _ what happened. it was incredible. he positioned himself as an _ what happened. it was incredible. he positioned himself as an effective - positioned himself as an effective altruist making as much money as possible then giving all of it away. he was the subject of flattering media profiles and one man's eczema said the next warren buffett but in interview he effectively admitted it was a pr stunt and lost 94% of his net worth in a single day. when his company collapsed. 25 net worth in a single day. when his company collapsed.— company collapsed. 25 years for what, company collapsed. 25 years for what. who _ company collapsed. 25 years for what, who was _ company collapsed. 25 years for what, who was harmed - company collapsed. 25 years for what,

sam bankman-fried sentenced to 25 years in prison for massive fraud.e rooney is outside the courthouse with more for us. kate, 25 years is the number >> reporter: that's right. sam bankman-fried, the former ceo of ftx, seen as the legitimate face of the cryptocurrency industry, now sentenced to 25 years, capping off what prosecutors call one of the largest financial frauds in u.s. history, ordering him to forfeit $11 billion, recommending jail in the san francisco bay area the defense team, key lawyer, said there will be an appeal we also have a statement from sam bankman-fried's family saying we are heart broken and will continue to fight for our son. the judge today talked about the enormous harm sam bankman-fried did, and his exceptional flexibility with the truth and an apparent lack of any real remorse, which we got some of the reasoning behind his sentencing one of the key parts, perjury and lack of remorse played into the sentencing >> what was the emotion in the courtroom? you were outside as people were leaving, but what was the emotion from h

maryam: we have seen sam bankman-fried convicted.there is more trust out there are not? >> i think we are seeing cryptocurrency bad actors being held to account. with bitcoin surging over the past year, greed starts to set in. maryam: so good to talk to you. thank you. if you are in the u.k., you can watch the full program, nine crypto craze moments, right now on bbc. but don't go and watch it right now, because you want to watch me, don't you? king charles has spoken with great sadness about missing the traditional monday thursday service. he is having treatment for cancer but recorded a message played at the service today. >> more than a thousand people braved the cold today. many had been waiting hours to grab the best spots. >> it has been the custom for the king to give arms on monday thursday. x it is an ancient tradition. historically, it took place in or near london. >> here are some of the recipients. >> queen elizabeth change that, and it was held around the country. this was the last time it happened in worchester. the cro

the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25ears in prison. a federaljudge at manhattan court house ruled that the 32—year—old knew he acted criminally but had shown no remorse. mr bankman—fried, who's expected to appeal the sentence, apologised for his actions but did not admit to criminal wrongdoing. he was found guilty of fraud and money laundering last year. before his firm's collapse in 2022, the former billionaire became a celebrity atop a crypto empire. prosecutors said he raided customer accounts for bribes, illegal political donations and risky investments. our business correspondent michelle fleury has more. thejudge had to decide the judge had to decide a couple of things and took into account age, losses involved an impact on the victims and also the message of the tarrant and he settled on 25 years for sam bankman—fried, sending him to prison for that time. it was less than lawyers who had been prosecuting the case had asked for you wanted 40—15 years and by contrast lawyers for mr bankman—fried said he should get l

an historic day for crypto as sam bankman-fried prepares to be sentenced.troom. what can we expect >> reporter: so i just got out of the courtroom we have new headlines. the first big one is that the judge decided that sam bankman-fried committed perjury on three counts. judge kaplan said he obstructed justice, talked about sam bankman-fried committed some of these crimes, which was the opposite of what he testified to in the fall during his criminal trial. we also got updates on the losses that has been a big point of contention between the government and the defense the defense argued there were no losses in part because they say customers are going to recoup a lot of their cryptocurrency because of what the judge called this fortuitous runup in prices. he compared him to a criminal that stole money and went to las vegas and gambled. he said the fact you made your money back gambling does not affect the severity of the crimes the judge called the defense's argument misleading, flawed and speculative. he's saying the losses exceed 550 million. anything abo

a court in new york sentences the former billionaire crypto boss — sam bankman freed to 25 years.ast 45 people have died in a bus crash in south africa — the vehicle plunged off a high bridge into a ravine after colliding with the crash barrier. the un's top court orders israel to take extra measures to ensure basic food supplies reach gaza — saying famine is already setting in. oppenheimer — the oscar winning film about the maker of the atomic bomb is screened for the first time injapan despite sensitivies. it's been described as the uk's most widespread miscarriage ofjustice — the post office scandal. and now it's emerged the post office spent £100 million of public money fighting wrongly accused subpostmasters in court — even though it knew its case was untrue. the bbc has uncovered a draft report that reveals that by 2017 the post office had seen evidence showing that the losses at post office branches could have been caused by remote access to its horizon computers by the japanese company fujitsu — who supplied the system. despite that — the post office's lawyers kept arguing

with people like sam bankman—fried, shaking _ with people like sam bankman—fried, shaking hands— withng hands with people _ with people like sam bankman—fried, shaking hands with people in- with people like sam bankman—fried, shaking hands with people in the - shaking hands with people in the politics— shaking hands with people in the politics world _ shaking hands with people in the politics world come _ shaking hands with people in the politics world come he _ shaking hands with people in the politics world come he was - shaking hands with people in the politics world come he was a - shaking hands with people in the politics world come he was a big| politics world come he was a big figure~ _ our panel tonight is — justine greening, former conservative mp and a minister for women and equalities. and anneke green who's a founding partner at reach global strategies and a former speech writer for president george w. bush. first — the latest headlines.

this was sam bankman-fried _ a loss in price. this was sam bankman-fried in _ a loss in price.n-fried in his - a loss in price. this was sam i bankman-fried in his element, bankman—fried in his element, at his desk talking crib go and making incredible profits. his hair and chubby look we're all part of the appeal and brand. sbs, as he was known by a legion of fans online, portrayed himself as a maths genius who wasn't interested in personal wealth, genius who wasn't interested in personalwealth, it genius who wasn't interested in personal wealth, it was all about developing the cryptocurrency industry and giving to charities.- giving to charities. this is bi . . giving to charities. this is bi. if giving to charities. this is big- if yes. _ giving to charities. this is big. if yes, his _ giving to charities. this is - big. if yes, his cryptocurrency exchange _ big. if yes, his cryptocurrency exchange that _ big. if yes, his cryptocurrency exchange that sold _ big. if yes, his cryptocurrency exchange that sold bitcoin . big. if yes, his cryptocurrency| exchange that sold bitcoi

sam bankman-fried's new lawyer giving a very compelling case to why he thinks sam bankman-fried doeso go to jail for incredibly long period of time. we are hearing familiar arguments about who sam bankman-fried is and was, that he was a math nerd and socially awkward and he has somebody who was fumbling his way through this and never sought to be the crypto king that he was said to be by those in finance. katie: it seems like also a leg of the defense is trying to portray bankman-fried as elizabeth holmes rather than a bernie made off. david: the parallel is that there are two young people who committed these frauds but they have a lot of life ahead of them. you look at the defense, there point of comparison is bernie made off -- bernie who got 150 years in prison. they are saying look at elizabeth holmes and michael, these were shorter sentences and people who stand to do good and have done good in the case of michael with his philanthropic work. this is the parallel and we will see what the judge finds more compelling. katie: i will be back for a special edition of bloomberg crypto

now to this, ftx founder sam bankman-fried's sentencing underway in new york.the latest? >> reporter: this sentencing is still ongoing. got kicked off at 9:45 or so, but sam bankman-fried looked very disheveled, t-shirt and pants, every different from the clean-cut short haircut we saw during trial, the bushing made his back that we know so well. judge kaplan is coming down so much harder than i think anyone expected. sam bankman-fried is younger, that comes into play with sentencing of the prosecution is looking 40 to 50 years, the defense is seeking 5 to 6. 5, their argument is there was no harm done to victims as the bankruptcy process expects to return all those customer funds. the judge completely rejected that claim today. he went through point by point, arguing this is about intend and what sam bankman-fried and that the loss figure is $10 billion. he underscored customers will be repaid in value last in november of 2,022, the price of bitcoin is four times what it was when ftx collapse. the judge also confirmed spf perjured himself on the stand. that so

sam bankman-fried became a billionaire by the age of 30 and then lost it all.siphoned billions in customer funds from ftx to keep his privately controlled hedge fund afloat. experts say the massive impact of his fraud on the public could decide the number of years, or even decades, that he spends behind bars. >> the state is seeking a number of enhancements to his current sentence and what they're saying is that he violated public trust, which is an enhancement, he affected more than 25 people significantly in a financial way. >> prosecutors say more than $8 billion of customer money was misappropriated. the son of two stanford law professors was born on the campus of stanford university and his legal team is pointing to ftx's bankruptcy estate and how the company expects to fully pay back those customers. bankman-fried says that he plans to appeal his conviction and sentence. live in the studio, gloria rodriguez, abc seven news, kumasi. >> thank you, gloria. greenhouse gas may soon have nowhere to hide. coming up, the new technology that can help track methane

. >>> former crypto mogul sam bankman-fried sentenced to 25 years for massive fraud. his apology in court before learning his fate. >>> on the east coast, the soaking rain and flood risk. >>> the race for 2024. president biden sharing the stage tonight with barack obama and bill clinton at a star-studded fundraiser. just miles away, former president trump at the wake for a slain nypd officer as he campaigns on the issue of crime. >>> the mission to protect the giants of the sea. inside the new whale traffic control. >>> and as small-town papers disappear, harry smith takes us to maine, where local news is getting a lifeline. >> announcer: this is "nbc nightly news" with lester holt. >> good evening and welcome. tonight, we are getting our closest look yet at the precarious remains of baltimore's francis scott key bridge and the out-of-control container ship that toppled it. our team out with the army corps of engineers today as they prepare for the formidable challenge of clearing the blocked channel. tonight, special equipment is on the way to begin the work, while t

sam bankman-fried has been sentenced to 25 years in prison.ce considered a rising star in the tech world. he will now be jailed for stealing millions of dollars from investors and customers of the now bankrupt cryptocurrency exchange that he founded, ftx. at one point, ftx was valued at $32 billion. when the cryptocurrency exchange collapsed in 2022, customers and investors lost north of $10 billion. a new york judge ruled the 32-year-old knew he acted criminally but he had shown no remorse. mr. bankman-fried, who is expected to appeal the sentence, apologized for his actions but did not admit to criminal wrongdoing. he was found guilty last year of seven charges of wire fraud and conspiracy. let's go outside the courthouse in new york. michelle fleury is standing by for us. 25 years, that's a significant amount of time. was this expected? >> you had prosecutors who had been pushing for 40-50 years. the sentencing guidelines meant it could have been substantially more than that. on the flipside, lawyers for sam bankman-fried said he should hav

the former billionaire crypto boss — sam bankman freed — who was convicted for one of the biggest financiales in us history — is about to be sentenced. and a special message from the king marking maundy thursday. we need and benefit greatly from those who extend the hand of friendship to us, especially in a time of need. hello, i'm matthew amroliwala, welcome to verified live, welcome to verified live. it's been described as the uk's most widespread miscarriage ofjustice — the post office scandal, where hundreds of sub—postmasters and postmistresses were prosecuted for stealing money because of incorrect information provided by a computer system called horizon. the scandal has made headlines across the world — and now, a draft report uncovered by the bbc shows the post office spent 100 million pounds of public money fighting sub—postmasters in court despite knowing its defence was untrue. the document reveals the post office was shown evidence by 2017 that losses could be due to errors in the horizon it system or remote tampering. but it kept arguing until 2019 in the bates v post office lt

paolo alto native sam bankman- fried is going to prison for the crypto fraud trant 29. >>> another issue for united, this time a panel on the outside of the plane apparently fell off in the middle of the flight. this happened on a flight headed from sfo to medford, oregon. united didn't declare an emergency in the air because the problem wasn't discovered until after the plane landed safely in oregon. in a statement, united said it will investigate what happened and make repairs before the plane gets cleared to fly again. no word yet on where that panel landed. this is the latest headache for united after their flights have had a series of landing issues, plus an entire wheel falling off after a plane took off from sfo. >>> this could jam you up if you are driving through the east bay this weekend. caltrans is shutting down part of 680 starting at 9:00 tonight. here's what you need to know. south bound 680 between the 580- 680 connector and highway 84 will stay close until early monday morning. caltrans says it is replacing a portion of the deteriorated roadway with new pavement but it i

. >>> historic day for crypto and sam bankman-fried is sentenced. >>> and a bull on tesla. the worst in the s&p this year and it is getting a fresh ding from one bull. >>> and disney shares set to wrap up the first quarter with the proxy fight moving to the main stage it's thursday, march 28th, 2024. you're watching "worldwide exchange" right here on cnbc ♪ >>> good morning and welcome to "worldwide exchange. thanks for being with us let's get you ready for the trading day ahead. we kick off with the check of the u.s. stock futures with the s&p coming off another record close. look at futures which are mixed. dow opening 20 points higher nasdaq in the red. s&p is flat. we want to look at stocks as they wrap up the week and month and quarter. the dow is up 5.5% the nasdaq is up 9%. the s&p, the best performer, up over 9%. off to the best start since before the pandemic in 2019. and the stock we have been talking about a lot is super micro. it is up 250% for the year that is followed by old dominion and then nvidia and followed by constellation energy >>> we are checking bond

has the downfall of sam bankman—fried done permanent harm to the digital currency dream?lo and welcome to our look at the business news. i'm lukwesa burak. we start here in the uk, where the country's biggest water company, thames water, may have to be nationalised after investors refused to pump in more money. thames, which provides water for around a quarter of the uk population, is struggling under a £15 billion debt pile — and a worsening environmental record. its boss has told the bbc that customers�* bills will need to rise by 40% in the coming years, to help cover the investment it needs. but he admitted it could end up being taken into government hands. our business editor simonjack reports. in the village of lambourn in west berkshire grains have overflowed regularly, pouring raw sewage onto the streets and straight into the local will —— become a protected chalk stream. thames water says rohan wood has overjuande storm dennis, villages and local charity said is that he is of underinvestment by the company. we would like to see water cullity been put above profit

the former cryptocurrency billionaire sam bankman—fried is jailed for 25 years for stealing $8 billionm his customers, one of the biggest financial frauds in us history could scotland become the first nation in the uk to allow terminally ill people to have help to end their lives? the king speaks of his sadness at missing the annual royal maundy thursday service, as the queen takes his place. as india's general election looms, we report on the growing anxiety among the country's muslim population. and the british boom in country music, as beyonce becomes the latest star to embrace it. on newsnight at 10.30, we'll go deeper behind the headlines and speak live to key players on today's big stories, plus a look tomorrow's front pages. good evening. it has emerged the post office spent £100 million of public money fighting wrongly accused sub—postmasters in court, even though it knew its case was untrue. the bbc has uncovered a draft report that reveals that by 2017 the post office had seen evidence showing that the losses at post office branches could have been caused by remote access to

sam bankman-fried will finally learn his fate today.tencing is scheduled for the ftx co-founder whose massive fraud scheme brought turbulence to the crypto market. charlotte, good morning. >> good morning, frances. it was indeed sam bankman-fried, also known as bf is returning to court in manhattan to receive sentencing for what is seen as one of the largest white collar crimes in history. almost five months ago he was found guilty of fraud, money la laundering and conspiracy by a jury. in 2022, roughly $10 billion in deposits from customers went missing. now the collapse of ftx sent ripples through the crypto world, sending bitcoin prices down. and companies going bank run. several executives testified that sbf misprappropriated thos funds. and also generating some false financial statements. they all pleaded guilty, the former executives to similar charges. they are expected to be sentenced in the coming months. sbf is expected to go to prison. the question is for how long. prosecutors are requesting 40 to 50 years when his defenders

disgraced sam bankman-fried and learn to stay after fraud conviction.e. >> sam bankman-fried, one of the largest financial frauds in history he was sentenced yesterday, coming up onto you how many years he faces behind bars and where he might survive that sentence. that is next. ♪ a billy's not just running a small goat grazing business he's also the chief marketing officer. and when he needs to round up some new customers constant contact makes it easy. helping him craft the perfect message like a marketing genius so his email stands out. constant contact delivers all the tools you need to help your business grow. if billy can do it so can you. get started today at constantcontact.com. helping the small stand tall. northstar gaming offers more than just wagers. we combine the premium casino platform and world class sportsbook with unique insights content. resulting in more engaged players and an unmatched user experience. northstar gaming. ♪ me and my friends ♪ ♪ life is better with the credit gods are on your side. rewards once available to the few ar

. >> sentencing day for sam bankman-fried, a billionaire at age 30, now set to be punished for one of largest financial frauds in history, cracking down on squatters. >> it's the first of its kind law giving homeowners more rights in the fight against people living without permission on their property. >> caught on camera, the wild chase this suspect clinging to a moving car while fleeing police. the diabetes and weight loss drug ozempic back in the spotlight, costing nearly $1,000 a month. >> but how much does it really cost to make a wake up call for corporate america? >> a closer look at the benefit of providing free child care to employees, as one mega lottery jackpot keeps rising, the mystery surrounding a new billion dollar jackpot winner. >> from abc news in new york. this is america this morning. >> good thursday morning everyone i'm andrew dymburt. >> good morning to you i'm rhiannon ally. we want to begin with new details in the baltimore bridge collapse investigation. >> two of the construction workers killed after a cargo ship slammed into the bridge have been recovered. o

. >>> former crypto mogul sam bankman-fried sentenced to 25 years for massive fraud. his apology in court before learning his fate. >>> on the east coast, the soaking rain and flood risk. >>> the race for 2024. president biden sharing the stage tonight with barack obama and bill clinton at a star-studded fundraiser. just miles away, former president trump at the wake for a slain nypd officer as he campaigns on the issue of crime. >>> the mission protect the giants of the sea. inside the new whale traffic control. >>> and as small-town papers disappear, harry smith takes us to maine, where local news is getting a lifeline. >> announcer: this is "nbc nightly news" with lester holt. >> good evening and welcome. tonight we are getting our closest look yet at the precarious remains of baltimore's francis scott key bridge and the out-of-control container ship that toppled it. our team out with the army corps of engineers today as they prepare for the formidable challenge of clearing the blocked channel. tonight special equipment is on the way the begin the work, while the s

david: we saw the parents of sam bankman-fried.professors, they came here and found their way to the door. the hearing is scheduled to start at 9:30 this morning on the 26th floor of the building behind me. no phones allowed, no buildings, facing everything we get, it's on the notes that people are feeding out to us. they will have a hearing where they kind of go over this comprehensive report on what happened, the fraud committed by spf -- sbf. then the critical thing, the size and magnitude of this fraud , the fundamental disagreement. defense saying no harm, no foul, essentially. we heard from bankruptcy that a lot of the money lost is likely to be recovered and the victims are not as likely to be in dire straits as they could be. the prosecution saying that's not the way this works. fraud committed, this needs to be punished. the job for the judge is to look at the pantheon of fraudsters throughout american history. bernie made off was sentenced to 150 years in prison. defense is saying that that is not the perfect analog here.

watch out folks, there are more sam bankman-frieds in the pipeline. all that and more on "making money." ♪. charles: so just like the phrase black swan event, you hear that a lot with the market. remember that is supposed to be something that is unique, rare, no one is prepared for it! all of sudden the term out of the blue is being tossed around. out of the blue, out of nowhere, something unexpected. something happens without any prior knowledge yet we're hearing out of the blue. certainly we heard this week on a webinar from the top strategist at jpmorgan. the exact statement went something like this, quote, it just might come one day out of the blue. this has happened in the past. we have had "flash crashes." so expect the unexpected seems to be contradictty. listen there is something to the notion that investors are getting a little bit cocky and maybe we should get some warning signs. look at this, significant spike consumer expectations where the stock market will be. this is near record high stuff. so everyone at this point kind of believes the

it's a 25—year sentence for sam bankman—fried. how the young cryptocurrency billionaire lost his and his customers' money. breaking news from south africa. at least 45 people killed as bus crashes off a bridge. also on the programme, scotland could become the first part of the uk to legalise assisted dying. we'll look at how different countries around the world approach these sensitive decisions. and we'll have the latest from the world of artificial intelligence. ai therapy, genital scans and perfect pints all explained in al decoded. we'll we�* ll start we'll start this hour with this breaking news out of south africa. 45 people at least are believed to have been killed after a bus crashed in the south african province of limpopo. these are the latest pictures we have here. just on in the ravine there the remains of the crash as the bus seemingly crashed through the barriers there and came off that road come off the bridge. into that ravine below. at least 45 people killed, another person seriously injured, bus travelling from b

the founder of the bankrupt crypto currency exchange ftx, sam bankman—fried, has been sentenced to 25ears in prison. a federaljudge at manhattan court house ruled that the 32—year—old knew he acted criminally but had shown no remorse. mr bankman—fried, who's expected to appeal the sentence, apologised for his actions but did not admit to criminal wrongdoing. he was found guilty of fraud and money laundering last year. before his firm's collapse in 2022, the former billionaire became a celebrity atop a crypto empire. prosecutors said he raided customer accounts for bribes, illegal political donations and risky investments. our business correspondent michelle fleury has more. thejudge had to decide a couple of things and took into account age, losses involved an impact on the victims and also the message of the tarrant and he settled on 25 years for sam bankman—fried, sending him to prison for that time. it was less than lawyers who had been prosecuting the case had asked for you wanting, 14—15 years and by contrast lawyers for mr bankman—fried said he should get less than seven years.

tonight, former crypto-currency mogul sam bankman-fried sentenced to 25 years in prison in one of the largest financial fraud cases in u.s. history. more on that in a moment. >>> but we begin with the stunning new images just coming in from onboard the cargo ship that brought down baltimore's francis scott key bridge. new images just coming in from the ntsb show inspectors probing the damage, the twisted metal of the bridge draped across the front of the ship. onboard, they found 56 containers of hazardous materials. some broken open, spilling into the water. officials say there is no immediate threat. our team out on the water today with the army corps of engineers, who are leading the recovery operation. cranes are on the way to clear the debris and tow the ship away. and then to recover the bodies of the four missing construction workers trapped underneath. abc's elizabeth schulze on the scene tonight. >> reporter: tonight, a first look inside the cargo ship that crashed into baltimore's francis scott key bridge. ntsb investigators combing through the catastrophic damage, collectin

coming up, a full special on the sentencing of sam bankman-fried.tomorrow and this is bloomberg. here's some of the other news stories we are watching. alibaba scrapping plans to sell $1 billion of new shares and so it smart logistics unit. calling off the sale citing poor market conditions. the move added pressure to the financial hub of hong kong as it deals with a dearth in its ipo market international capital outflows. the u.s. commerce department agency is calling for sweeping audits on ai systems. a report from the national telecommute occasions and it information administration recommending the federal government imposes consequences on ai companies that introduces unacceptable risks or makes unfounded claims. it goes on to outline recommendations for the federal government including guidelines for ai ordinance and the creation of nutrition labels to standardize information across ai models. mark your calendar. apple sets a day to kick off into ai future. the company announcing its worldwide developers conference will be held on june 10 where

. >> sentencing day for sam bankman-fried. how much time the man once known as the king of crypto could face in prison following his conviction of financial fraud? >> and girl scouts scammed the investigation that caught the attention of the secret service and involves the famous cookies. >> these girl scouts are going to have to become like the lady at the safeway. just this requires a visual just holding up the 20 because now they do. >> you know, venmo card payments. i got mine online. they're going to ruin it for people who have cash. who use cash. me looking for cookies always. >> please don't scam these girls. and good morning on this thursday, march 28th. >> yes, we're going to tell you more about that story. we're going to start with a check of our forecast with drew. yeah. >> good morning. so we had some light rain last 12 hours. that front is now to the south of us that supplied us with that wet weather. you can see that on live doppler seven. behind the front we have some cooler air that has moved in here, an isolat

>> sure, um, so just 18 months ago, sam blankman freed was a -- sam bankman-fried was a huge starn theran a cryptocurrency exchange ftx, which was basically a platform where you could take your dollars and spend them to buy bitcoin or ether other cryptocurrencies and you can also store your crypto on the platform. so it kind of operated as a bank as well. and it became really popular as the crypto industry grew and grew. and then in november, 2022 there was essentially a run on a bank, and that exposed a big age billion dollars -- $8 billion hole in the money that ftx was supposed to be holding on behalf of its customers. and that kind of kick started this series of events that kind of brought the whole edifice crashing down. william: and so those people who had quote unquote bank their money in his exchanges, they lost all the money. those are the victims in this case. >> those are sort of one subset of the victims. they're probably the largest subset. um, but the other victims, including, you know venture capital investors, who put in more than a billion dollars into ftx and also len

the players like sam bankman—fried might be new.it is as old as time, and we have no patience for it. the court case saw his former staff and even his girlfriend testify against him. his chief crime was that he illegally used customer deposits from ftx to fund his other business. prosecutors are asking the judge to sentence him to 50 years in prison, but his defence team want around five years. they argue that most of the billions of dollars bankman—fried lost have now been recovered, but critics say he shows no remorse. in an interview in his luxury apartment complex in the bahamas just before he was arrested, he admitted to making mistakes but claimed it wasn't deliberate. were you incompetent or were you fraudulent? i didn't knowingly commit fraud. i don't think i committed fraud. i didn't want any of this to happen. i was certainly not nearly as competent as i thought i was. but a convicted criminal he now is. and it's up to a judge to decide how long he'll be behind bars for one of the biggest financial crimes in us history. jo

the judge l said today in a court house behind me that he rejected entirely sam bankman—fried's claimsed in november 2022. instead, thejudge pointed collapsed in november 2022. instead, the judge pointed to $8 collapsed in november 2022. instead, thejudge pointed to $8 billion in losses from customers, and more losses from customers, and more losses by creditors and investors totalling more than $11 billion. he said that is how he came upon his recommendation to sentence sam bankman—fried to 25 years in prison. that fell far short of the 100 plus years that were allowed through the sentencing guidelines given to the judge, pursuant to the charges, and less than the 40—50 years that the prosecutors suggested. but far more than the 5—6 years that the defence requested. in explaining his reaching luck reasoning, he harked back to one of the testimonies, pointing to sam bankman—fried as somebody who was a risk taker who could do more harm in the future. sir keir starmer has launched labour's local election campaign promising to "level up" english regions more effectively than the conservat