Washington man pleads guilty to $97M oil investment laundering scam

SEATTLE — A 47-year-old Washington state man pleaded guilty Friday to conspiracy to commit money laundering in a scheme that funneled nearly $100 million in fraud proceeds from phony oil and gas investments to overseas cryptocurrency wallets, federal prosecutors said. Geoffrey K. Auyeung, of Newcastle, admitted setting up nine business entities to receive funds from […]

Sam Bankman-Fried sentenced 25 years in multi-billion-dollar fraud scheme

NEW YORK—Samuel Bankman-Fried, also known as SBF, 32, of Stanford, California, was sentenced today, March 28, to 25 years in prison, three years of supervised release, and ordered to pay $11 billion in forfeiture for his orchestration of multiple fraudulent schemes. Bankman-Fried faced up to 110 years but the DOJ requested a sentence between 40 […]