A judge on Thursday closed the door on FTX founder Sam Bankman-Fried’s hopes to be free during his trial, although he extended the hours that the cryptocurrency peddler can meet with his lawyers in a federal courthouse.
At a hearing, Judge Lewis A. Kaplan rejected a request by Bankman-Fried’s lawyers to free their client so he could better prepare his defence against charges that he defrauded cryptocurrency investors.
Bankman-Fried, 31, faces the start of his trial Tuesday in Manhattan. He has pleaded not guilty.
His lawyer, Mark Cohen, told Kaplan that he cannot meaningfully confer with his client as long as Bankman-Fried is jailed at the Metropolitan Detention Centre in Brooklyn.
And he insisted that there was no risk that Bankman-Fried would flee, prompting Kaplan to interrupt him.
The closer we get to trial, the more I’m wondering about that, Kaplan said. “Your client, if there is conviction, could be looking at a very long sentence. If things begin to look bleak maybe he fee
Posts in category Business Standard
Judge rejects bid to free FTX founder Sam Bankman-Fried during his trial (28-09-2023)
India overnight rates ease but volumes plunge amid holiday change (28-09-2023)
Traders said these volumes were likely at multi-year lows
India overnight rates ease but volumes plunge amid holiday change (28-09-2023)
Traders said these volumes were likely at multi-year lows
Government bond yields surge, tracking the rise in US Treasury yields (28-09-2023)
The yield on the benchmark 10-year bond settled at 7.24 per cent, against 7.17 per cent on Wednesday
Dollar pulls back from highest level since Nov, heat still on yen, euro (28-09-2023)
The dollar index, which tracks the unit against six other majors, was down 0.3% on the day at 106.3, though it was still on track for an 11th straight week of gains
Russian oil trading close to $100 defying increasingly redundant G7 cap (28-09-2023)
G-7 officials have been long indicating that they have no intention of revisiting the cap for the time being, despite spot prices surging far above the threshold for Russian exports
Pharma firm Valiant Lab IPO subscribed nearly 71% on second day of bidding (28-09-2023)
The initial public offer (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 71 per cent on day two of subscription on Thursday.
The initial share sale received bids for 54,25,770 shares against 76,23,030 units on offer, as per NSE data.
The category for retail individual investors (RIIs) was subscribed 1.27 times, while the quota for non-institutional investors received 29 per cent subscription. The portion for qualified institutional buyers (QIBs) was subscribed 5 per cent.
The IPO is an entirely fresh issuance of up to 1.08 crore equity shares with no offer-for-sale component.
The price range for the offer is Rs 133-140 a share.
Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary — Valiant Advanced Sciences Private Ltd. — and to meet the working capital requirements of the subsidiary company.
Valiant Laboratories is an active pharmaceutical ingredient or bul
New investor registrations on NSE hits 10 million mark in last 8 months (28-09-2023)
Leading stock exchange NSE on Thursday said the number of new investor registrations reached 1 crore mark on its platform in the last eight months, taking the total to over 8 crore.
These new investor registrations are not restricted to top-tier cities and cities beyond top 100 accounted for 45 per cent of new investor registrations, the National Stock Exchange (NSE) said in a statement.
“The eight crore unique PAN investors correspond approximately to around 5 crore unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via the NSE’s extensive nationwide network of trading members,” it said.
Total number of unique client code accounts registered with the exchange was at 14.9 crore — clients could register with more than one trading member and included all registrations done to date.
In terms of regions, states from northern part of India accounted for 43 per cent
towards the last 1 crore new investor registrations, …
India’s unique investor counts top 80 million for the first time: NSE data (28-09-2023)
NSE says 17% of Indian household now invest directly in stocks
Infosys receives Rs 26.5 lakh IGST demand; IHC to sell stake in Adani units (28-09-2023)
Shares of Yatra Online finished below their IPO price during their trading debut on Thursday