Sam Bankman-Fried has decided to agree to be extradited to the United States to face fraud charges, just hours after the FTX founder's lawyer told a Bahamas judge he was not ready to consent.

World Business Watch: FTX founder Sam Bankman-Fried to agree to US extradition

United States prosecutors on Wednesday charged eight social media influencers with fraud over the allegations of illegally pushing stocks on novice traders via Twitter and Discord.&nbsp;Reportedly, the individuals ripped off about $114 million of unsuspecting followers by purporting to be successful traders on the social media platforms.

As per an AFP report, prosecutors in the Southern District of Texas said that the accused were engaged in a so-called "pump and dump" scheme in which they would hype particular stocks to their followers with the intent of dumping them once prices jump.

The US Securities and Exchange Commission (SEC), as per Reuters report, said that it has filed civil charges against the defendants, claiming that seven of them used Discord and Twitter to boost stocks. The eighth&nbsp;one has been charged with aiding and abetting the scheme via a podcast he ran.

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Investigators said that the influencers mainly focused on penny stocks.

As per Forbes, penny stocks "are shares of publicly-listed companies that have a very low price value" that generally trade at really low prices of a dollar or less. Most of these shares were in companies with a market capitalisation of less than $100 million.

Mitchell Hennessey of Hoboken, New Jersey, Texas residents Edward Constantinescu, Perry Matlock, John Rybarczyk and Dan Knight, along with California residents Gary Deel and Tom Cooperman, Stefan Hrvatin of Miami have&nbsp;been named as the defendants.

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Of these Matlock has pleaded not guilty.

Assistant Attorney General Kenneth Polite of the Justice Department's Criminal Division said that "Securities fraud victimises innocent investors and undermines the integrity of our public markets."

(With inputs from agencies)

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United States prosecutors on Wednesday charged eight social media influencers with fraud over the allegations of illegally pushing stocks on novice traders via Twitter and Discord.

United States prosecutors on Wednesday charged eight social media influencers with fraud over the allegations of illegally pushing stocks on novice traders via Twitter and Discord. Reportedly, the individuals ripped off about $114 million of unsuspecting followers by purporting to be successful traders on the social media platforms. As per an AFP report, prosecutors in the Southern District of Texas said that the accused were engaged in a so-called "pump and dump" scheme in which they would hype particular stocks to their followers with the intent of dumping them once prices jump. The US Securities and Exchange Commission (SEC), as per Reuters report, said that it has filed civil charges against the defendants, claiming that seven of them used Discord and Twitter to boost stocks. The eighth one has been charged with aiding and abetting the scheme via a podcast he ran. Also read | US Federal Reserve raises interest rate for 7th time this year: Here’s what it means Investigators said that the influencers mainly focused on penny stocks. As per Forbes, penny stocks "are shares of publicly-listed companies that have a very low price value" that generally trade at really low prices of a dollar or less. Most of these shares were in companies with a market capitalisation of less than $100 million. Mitchell Hennessey of Hoboken, New Jersey, Texas residents Edward Constantinescu, Perry Matlock, John Rybarczyk and Dan Knight, along with California residents Gary Deel and Tom Cooperman, Stefan Hrvatin of Miami have been named as the defendants. Also read | Twitter has stopped paying office rent, considers not paying severance to fired employees: Report Of these Matlock has pleaded not guilty. Assistant Attorney General Kenneth Polite of the Justice Department's Criminal Division said that "Securities fraud victimises innocent investors and undermines the integrity of our public markets." (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US: 8 social media influencers posing as fin experts rip off $114mn from unsuspecting users; booked

Former Formula One supremo Bernie Ecclestone will stand trial in October next year on charges of failing to declare a multi-million pound trust in Singapore to the British tax services, a judge in London said on Tuesday. Ecclestone, 91, was charged in July over an alleged failure to declare more than £400 million ($453 million) of overseas assets to the UK government, accusations he denies.&nbsp;

He appeared at London's Southwark Crown Court on Tuesday, arriving in the back of a white Range Rover.&nbsp;Ecclestone wore glasses, a dark grey three-piece suit, white shirt and grey tie as he sat in court, unusually taking a position behind his lawyers rather than in the dock due to his hearing difficulties.&nbsp;

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His wife watched from the public gallery as judge Deborah Taylor fixed the trial date for October 9, 2023, saying it could last up to six weeks. The British businessman, whose financial net worth has been estimated at some $3 billion, is widely credited with transforming F1 commercially. His control of the sport developed from the sale of television rights in the 1970s and he was chief executive of Formula One Group until January 2017. The Crown Prosecution Service, which brings charges in England and Wales, said it brought the case for "fraud by false representation" after a "complex and worldwide" investigation by HM Revenue and Customs.

Former Formula One supremo Bernie Ecclestone will stand trial in October next year on charges of failing to declare a multi-million pound trust in Singapore to the British tax services, a judge in London said on Tuesday.

Former Formula One supremo Bernie Ecclestone will stand trial in October next year on charges of failing to declare a multi-million pound trust in Singapore to the British tax services, a judge in London said on Tuesday. Ecclestone, 91, was charged in July over an alleged failure to declare more than £400 million ($453 million) of overseas assets to the UK government, accusations he denies. He appeared at London's Southwark Crown Court on Tuesday, arriving in the back of a white Range Rover. Ecclestone wore glasses, a dark grey three-piece suit, white shirt and grey tie as he sat in court, unusually taking a position behind his lawyers rather than in the dock due to his hearing difficulties. ALSO READ | Saudi Arabia wins bid to host 2029 Asian Winter Games His wife watched from the public gallery as judge Deborah Taylor fixed the trial date for October 9, 2023, saying it could last up to six weeks. The British businessman, whose financial net worth has been estimated at some $3 billion, is widely credited with transforming F1 commercially. His control of the sport developed from the sale of television rights in the 1970s and he was chief executive of Formula One Group until January 2017. The Crown Prosecution Service, which brings charges in England and Wales, said it brought the case for "fraud by false representation" after a "complex and worldwide" investigation by HM Revenue and Customs.

Former Formula One supremo Bernie Ecclestone faces fraud trial in October 2023

Former Formula One supremo&nbsp;Bernie&nbsp;Ecclestone on Monday pleaded not guilty when he appeared in court in London on a multi-million-pound fraud charge. Ecclestone, 91, was charged in July over an alleged failure to declare more than £400 million ($473 million) of overseas assets to the UK government. The ex-motorsport boss arrived at Westminster Magistrates Court in central London to a throng of photographers and camera crews. According to the chargesheet, he is accused of failing to declare a trust in Singapore with a bank account containing some $650 million.

In court, white-haired Ecclestone, wearing a dark suit, spoke only to confirm his name, date of birth and give an address in Knightsbridge, west London. Judge Paul Goldspring granted him unconditional bail until another pre-trial hearing at Southwark Crown Court, south London, on September 19. Ecclestone, a British businessman whose financial net worth has been estimated at some $3 billion, is widely credited with transforming F1 commercially.

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His control of the sport developed from the sale of television rights in the 1970s and he was chief executive of Formula One Group until January 2017. The Crown Prosecution Service, which brings charges in England and Wales, brought the case for "fraud by false representation" after a "complex and worldwide" investigation by HM Revenue and Customs.

Former Formula One supremo Bernie Ecclestone on Monday pleaded not guilty when he appeared in court in London on a multi-million-pound fraud charge. Ecclestone, 91, was charged in July over an alleged failure to declare more than £400 million ($473 million) of overseas assets to the UK government.

Former Formula One supremo Bernie Ecclestone on Monday pleaded not guilty when he appeared in court in London on a multi-million-pound fraud charge. Ecclestone, 91, was charged in July over an alleged failure to declare more than £400 million ($473 million) of overseas assets to the UK government. The ex-motorsport boss arrived at Westminster Magistrates Court in central London to a throng of photographers and camera crews. According to the chargesheet, he is accused of failing to declare a trust in Singapore with a bank account containing some $650 million. In court, white-haired Ecclestone, wearing a dark suit, spoke only to confirm his name, date of birth and give an address in Knightsbridge, west London. Judge Paul Goldspring granted him unconditional bail until another pre-trial hearing at Southwark Crown Court, south London, on September 19. Ecclestone, a British businessman whose financial net worth has been estimated at some $3 billion, is widely credited with transforming F1 commercially. ALSO READ | Is Tiger Woods inclined towards the controversial LIV Golf Tour? Here's everything you need to know His control of the sport developed from the sale of television rights in the 1970s and he was chief executive of Formula One Group until January 2017. The Crown Prosecution Service, which brings charges in England and Wales, brought the case for "fraud by false representation" after a "complex and worldwide" investigation by HM Revenue and Customs.

Former Formula One supremo Bernie Ecclestone denies fraud charge

Former Formula One supremo Bernie Ecclestone has been charged with fraud over a failure to declare more than 400 million pounds ($477 million) in assets he held overseas to the British tax authority, prosecutors said on Monday.

The Crown Prosecution Service said Ecclestone, 91, faced one count of fraud by false representation. "This follows a complex and worldwide criminal investigation by HMRC`s Fraud Investigation Service," said Simon York, Director at the Fraud Investigation Service of Her Majesty`s Revenue and Customs (HMRC).

The first hearing in his case is due to be held on Aug. 22 at London`s Westminster Magistrates Court.

Former Formula One supremo Bernie Ecclestone has been charged with fraud over a failure to declare more than 400 million pounds ($477 million) in assets he held overseas to the British tax authority, prosecutors said on Monday.

Former Formula One supremo Bernie Ecclestone has been charged with fraud over a failure to declare more than 400 million pounds ($477 million) in assets he held overseas to the British tax authority, prosecutors said on Monday. The Crown Prosecution Service said Ecclestone, 91, faced one count of fraud by false representation. "This follows a complex and worldwide criminal investigation by HMRC`s Fraud Investigation Service," said Simon York, Director at the Fraud Investigation Service of Her Majesty`s Revenue and Customs (HMRC). The first hearing in his case is due to be held on Aug. 22 at London`s Westminster Magistrates Court.

Ex-Formula One chief Bernie Ecclestone charged with fraud

Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company.

The settlement allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years.&nbsp;

Tesla must hire an independent chairman to oversee the company.

The Securities and Exchange Commission announced the settlement Saturday, just two days after filing a case seeking to oust Musk as CEO.

Musk, a billionaire, and Tesla, a company that ended June with USD 2.2 billion in cash, each is paying USD 20 million to resolve the case.

The deal could remove one cloud that hangs over Tesla. Investors fretted about the company's ability to cope without Musk, a charismatic entrepreneur whose penchant for coming up with revolutionary ideas as drawn comparisons to one of Silicon Valley's most revered visionaries, Apple co-founder Steve Jobs.

Tesla's stock plummeted 14 per cent Friday after the SEC filed its lawsuit, erasing more than USD 7 billion in shareholder wealth. Many analysts predicted the shares were bound to fall even further if Musk was forced to step down.

The steep downturn in Tesla's market value may have influenced Musk to have an apparent change of heart and negotiate a settlement.&nbsp;

Musk had rejected a similar settlement offer before the SEC sued Thursday, maintaining he had done nothing wrong when he posted an August 7 tweet declaring that he had secured the financing to lead a buyout of Tesla.

The SEC alleged Musk wasn't close to locking up the estimated USD 25 billion to USD 50 billion needed to pull off the buyout.

Musk and Tesla reached their settlement without admitting to or denying the SEC's allegations.

Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company.

Tesla and its CEO Elon Musk have agreed to pay a total of $40 million and make a series of concessions to settle a government lawsuit alleging Musk duped investors with misleading statements about a proposed buyout of the company. The settlement allows Musk to remain CEO of the electric car company but requires him to relinquish his role as chairman for at least three years. Tesla must hire an independent chairman to oversee the company. The Securities and Exchange Commission announced the settlement Saturday, just two days after filing a case seeking to oust Musk as CEO. Musk, a billionaire, and Tesla, a company that ended June with USD 2.2 billion in cash, each is paying USD 20 million to resolve the case. The deal could remove one cloud that hangs over Tesla. Investors fretted about the company's ability to cope without Musk, a charismatic entrepreneur whose penchant for coming up with revolutionary ideas as drawn comparisons to one of Silicon Valley's most revered visionaries, Apple co-founder Steve Jobs. Tesla's stock plummeted 14 per cent Friday after the SEC filed its lawsuit, erasing more than USD 7 billion in shareholder wealth. Many analysts predicted the shares were bound to fall even further if Musk was forced to step down. The steep downturn in Tesla's market value may have influenced Musk to have an apparent change of heart and negotiate a settlement. Musk had rejected a similar settlement offer before the SEC sued Thursday, maintaining he had done nothing wrong when he posted an August 7 tweet declaring that he had secured the financing to lead a buyout of Tesla. The SEC alleged Musk wasn't close to locking up the estimated USD 25 billion to USD 50 billion needed to pull off the buyout. Musk and Tesla reached their settlement without admitting to or denying the SEC's allegations.

Elon Musk to resign as Tesla chairman, pay $20 million fine over fraud charges

Former Argentine president Cristina Kirchner was charged in a corruption case on Tuesday&nbsp;and her assets were ordered froze.

Kirchner slammed a judge for indicting her with graft over public tenders saying the ruling was &quot;a big maneuver of political persecution.&quot;

A justice ministry statement said the judge ordered an embargo on her 10 billion pesos ($630 million) asset.

The judge, Julian Ercolini, charged Kirchner with illicit association and fraudulent administration for allegedly favoring a construction magnate friend, Lazaro Baez, in public contracts in Patagonia, her southern political bastion, reported news agency AFP.

Kirchner, who was in office from 2007 to 2015, has repeatedly denied malpractice. Her planning minister at the time of the tenders, Julio de Vido, was also charged.

&quot;I am neither a friend nor an associate of Baez,&quot; Kirchner had said in her testimony. AFP reported that Baez was closed to Kirchner and her late husband Nestor Kirchner, who preceded her as president from 2003 to 2007. Baez has been jailed since April.

(With inputs from AFP)

Kirchner was charged with illicit association and fraudulent administration for allegedly favoring a construction magnate friend

Former Argentine president Cristina Kirchner was charged in a corruption case on Tuesday and her assets were ordered froze. Kirchner slammed a judge for indicting her with graft over public tenders saying the ruling was "a big maneuver of political persecution." A justice ministry statement said the judge ordered an embargo on her 10 billion pesos ($630 million) asset. The judge, Julian Ercolini, charged Kirchner with illicit association and fraudulent administration for allegedly favoring a construction magnate friend, Lazaro Baez, in public contracts in Patagonia, her southern political bastion, reported news agency AFP. Kirchner, who was in office from 2007 to 2015, has repeatedly denied malpractice. Her planning minister at the time of the tenders, Julio de Vido, was also charged. "I am neither a friend nor an associate of Baez," Kirchner had said in her testimony. AFP reported that Baez was closed to Kirchner and her late husband Nestor Kirchner, who preceded her as president from 2003 to 2007. Baez has been jailed since April. (With inputs from AFP)

Former Argentine president Kirchner charged with graft

Cambodia deported 25 Taiwanese nationals wanted on fraud charges to China today, ignoring attempts by Taiwanese officials to have them returned to Taiwan. 
 
A team of 90 Chinese police arrived in Phnom Penh to pick up the 25 Taiwanese nationals, and another 14 Chinese nationals detained in Cambodia, over suspected involvement in internet and telephone fraud. 
 
The detainees, some in tears, were forced to squat on the tarmac as the police searched them, removed their belongings and handcuffed them. 
 
&quot;Ninety Chinese police came here and picked them up themselves from the airport,&quot; Cambodian immigration officer Uk Heisela told Reuters. 
 
Cambodia, one of China&#39;s closest allies, detained the Taiwanese and Chinese nationals in coordination with Chinese authorities, who are attempting to halt the proliferation of scams that have cost billions of dollars. 
 
Cambodia does not have official relations with self-ruled Taiwan and considers the island part of &quot;one China&quot;, in line with Beijing which considers the island a breakaway province. 
 
&quot;Please, don&#39;t consider Cambodia as a hiding place, or for doing illegal businesses,&quot; Heisela said, confirming that the Taiwanese nationals were deported under the one-China policy. 
 
Taiwan&#39;s foreign ministry said it was &quot;deeply unsatisfied&quot; with the way Cambodia handled the case. 
 
In Beijing, Chinese foreign ministry spokeswoman Hua Chunying said China was appreciative of Cambodia&#39;s handling of the issue under the &quot;one China&quot; principle, and that the suspects would have their rights guaranteed. 
 
Cambodia has deported more than 200 people suspected of involvement in fraud rings to China since November. 
 
Human Rights Watch said the group should have been allowed to appeal the decision to deport them in court. 
 
&quot;Sending a SWAT-style team to bundle these Taiwan and China nationals away without any sort of hearing or appeal process clearly demonstrates that China thinks that international laws and standards somehow don&#39;t apply to them,&quot; said Phil Robertson, the group&#39;s deputy director in Asia. 
 
China is Cambodia&#39;s largest foreign investor, and Cambodia is one of Beijing&#39;s staunchest regional allies. 
 
(Reuters)

14 Chinese nationals were also deported back to China from Cambodia under the contentious one-China policy

Cambodia deported 25 Taiwanese nationals wanted on fraud charges to China today, ignoring attempts by Taiwanese officials to have them returned to Taiwan. A team of 90 Chinese police arrived in Phnom Penh to pick up the 25 Taiwanese nationals, and another 14 Chinese nationals detained in Cambodia, over suspected involvement in internet and telephone fraud. The detainees, some in tears, were forced to squat on the tarmac as the police searched them, removed their belongings and handcuffed them. "Ninety Chinese police came here and picked them up themselves from the airport," Cambodian immigration officer Uk Heisela told Reuters. Cambodia, one of China's closest allies, detained the Taiwanese and Chinese nationals in coordination with Chinese authorities, who are attempting to halt the proliferation of scams that have cost billions of dollars. Cambodia does not have official relations with self-ruled Taiwan and considers the island part of "one China", in line with Beijing which considers the island a breakaway province. "Please, don't consider Cambodia as a hiding place, or for doing illegal businesses," Heisela said, confirming that the Taiwanese nationals were deported under the one-China policy. Taiwan's foreign ministry said it was "deeply unsatisfied" with the way Cambodia handled the case. In Beijing, Chinese foreign ministry spokeswoman Hua Chunying said China was appreciative of Cambodia's handling of the issue under the "one China" principle, and that the suspects would have their rights guaranteed. Cambodia has deported more than 200 people suspected of involvement in fraud rings to China since November. Human Rights Watch said the group should have been allowed to appeal the decision to deport them in court. "Sending a SWAT-style team to bundle these Taiwan and China nationals away without any sort of hearing or appeal process clearly demonstrates that China thinks that international laws and standards somehow don't apply to them," said Phil Robertson, the group's deputy director in Asia. China is Cambodia's largest foreign investor, and Cambodia is one of Beijing's staunchest regional allies. (Reuters)

Cambodia deports 25 Taiwanese suspected of fraud to China, angering Taiwan's officials

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