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Prosecutor opens trial for FTX founder Sam Bankman-Fried saying he stole at least $10 billion

Published Wed, 25 Dec 2024 07:13:06 GMT

NEW YORK (AP) — A prosecutor opened a fraud trial Wednesday by telling jurors that FTX founder Sam Bankman-Fried was on top of the world a year ago, hobnobbing with celebrities, before his historic fraud was exposed, leaving customers and investors without at least $10 billion they thought was secure. A defense lawyer insisted his client didn’t steal from anyone.Assistant U.S. Attorney Nathan Rehn repeatedly pointed at Bankman-Fried, sitting with his lawyers in a suit, and accused him of “committing a massive fraud.”He said Bankman-Fried told lies to his investors while he spent their money on himself, his friends and family, buying lavish homes and beachfront property in the Bahamas, spending millions of dollars on political donations to gain influence in Washington.Bankman-Fried, 31, maintains he was not to blame for a massive fraud that prosecutors allege in seven charges, including wire fraud and conspiracy, brought against him since his arrest last December in the Bahamas...

Stock market today: Wall Street edges higher after selloff as reports suggest economy may be cooling

Published Wed, 25 Dec 2024 07:13:06 GMT

NEW YORK (AP) — Wall Street is edging higher Wednesday after reports suggested the U.S. economy may be cooling, which could mean less fuel for inflation.The S&P 500 was 0.4% higher in afternoon trading, coming off a 1.4% tumble that had sent it to its lowest level in four months. The Dow Jones Industrial Average rose 8 points, or less than 0.1%, to 33,010, a day after wiping out its gains for the year so far. The Nasdaq composite was 0.9% higher, as of 1:25 p.m. Eastern time.Stocks have struggled since the summer under the weight of soaring Treasury yields in the bond market. High yields undercut stock prices by pulling investment dollars away from stocks and into bonds. They also crimp corporate profits by making borrowing more expensive.The yield on the 10-year Treasury, which is the centerpiece of the bond market, pulled back from its highest level since 2007, down to 4.75% from 4.80% late Tuesday. Shorter- and longer-term yields also eased a bit to offer more oxygen to the s...

A Chicago woman died in a hotel freezer in 2017. Now her mother has reached a settlement

Published Wed, 25 Dec 2024 07:13:06 GMT

CHICAGO (AP) — The mother of a 19-year-old Chicago woman who was found dead in 2017 in a freezer at a suburban hotel where she had attended a party has reached a settlement in her lawsuit against the hotel and others.A settlement was reached in August, Cook County court records show, but it has not been entered on the court docket because attorneys for Kenneka Jenkins’ mother have asked that the terms be sealed from the public, the Chicago Tribune reported.A judge denied that request Tuesday but asked the mother’s attorney to resubmit the request. A status hearing is scheduled for next week in the case, which had been set for a trial starting Oct. 16, court records show.Attorneys for Jenkins’ mother, Tereasa Martin, argued that the family’s safety and privacy trumped any reason to require that the records be publicly filed.“The widespread publicity of this case, including uncontrolled speculation and social media commentary has resulted in various threats made against various indivi...

Mets awarded 1-0 win over Marlins for suspended game, with 9th inning wiped out because of rain

Published Wed, 25 Dec 2024 07:13:06 GMT

The New York Mets were awarded a 1-0 win over the Marlins in the game suspended by rain on Sept. 28, with Miami’s two-run rally in the ninth voided because the inning was not completed.The game would have been resumed Monday had it impacted the postseason but was not because the Marlins were assured of the second NL wild card and Arizona the third.Major League Baseball, after consulting the Elias Sports Bureau, said Wednesday the score reverted to 1-0 under 7.02 (b) (4) (A) of the Official Baseball Rules, which deals with suspended games.“If one team is ahead, the team that is ahead shall be declared the winner (unless the game is called while an inning is in progress and before the inning is completed, and the visiting team has scored one or more runs to take the lead, and the home team has not retaken the lead, in which case the score upon the completion of the last full inning shall stand,)” the rule states.Bryan De La Cruz singled leading off the ninth against Grant Hartwi...

The Philippines aims at a younger generation of Filipino American travelers

Published Wed, 25 Dec 2024 07:13:06 GMT

As the head of her own marketing agency in Los Angeles, Shaina Renee Manlangit has made it a mission to elevate Filipino American talent and culture. But, it occurred to her last year, she still had never actually been to the Philippines.Knowing there were other young Filipino Americans who felt that gap, the 28-year-old promptly “cold-emailed” the Philippine Department of Tourism. That led to her visiting the country in March for the first time.“It was a very big cultural shock,” Manlangit said. “Once I got a taste of it, I just wanted to learn more.”She tasted regional foods, saw both cities and beaches. She learned that the Philippines is a top diving destination, and now she is trying to learn the Tagalog language. Manlangit has since parlayed her journey of discovery into a collaboration with the government to launch trips especially geared toward young Filipino Americans.The Philippines has long been interested in attracting Filipino Americans to come and add to the economy, b...

Mourners pay their respects to Dianne Feinstein in San Francisco’s City Hall

Published Wed, 25 Dec 2024 07:13:06 GMT

SAN FRANCISCO (AP) — Mourners are paying their respects Wednesday to the late U.S. Sen. Dianne Feinstein in San Francisco City Hall, where she launched her groundbreaking political career and where she spent a decade as the city’s first female mayor. Feinstein’s casket was carried into the City Hall rotunda, where it was draped with an American flag, with San Francisco Mayor London Breed and Feinstein’s daughter and granddaughter following behind. Former U.S. House Speaker Nancy Pelosi, also of San Francisco, was among the officials in attendance. Feinstein died Thursday at her Washington, D.C., home after a series of illnesses. A steady line of people solemnly waited for their chance to honor Feinstein. Jose Romero Cooper, 61, and 73-year-old Mark Cooper, a married couple, were among the first. They said they followed Feinstein’s career with pride.“What I’m gonna say is thank you for everything, for being strong,” he said.He stood before the casket, genuflected an...

This town in Colorado has a population of 0

Published Wed, 25 Dec 2024 07:13:06 GMT

DENVER (KDVR) -- You might think that to have a town, you would have to have at least a few people who actually live in it.Well, you would be wrong - at least in Colorado.Carbonate, located north of Glenwood Springs in Garfield County, is an official municipality, according to the Colorado Department of Local Affairs. There are more ghost towns in Colorado than live ones It has a yearly budget, a town clerk, a board of trustees and more, aligning it with other towns in Colorado.There is one key difference between it and other towns, however: The official population of Carbonate is zero and has been for a very long time.How is this possible?Carbonate was officially reinstated as a town in 2014 through a unanimous election, having been originally formed in 1883 and never officially abandoned, according to a petition.The town is 640 acres, around 1 square mile, and most of that is publicly owned and held by the U.S. Forest Service. Around 79 acres is held by private owners.While the...

Abandoned pit bull puppy sparks animal abuse case in Fort Lauderdale

Published Wed, 25 Dec 2024 07:13:06 GMT

The Fort Lauderdale Police Department is investigating a case of animal abuse after a malnourished and lifeless pit bull puppy was found on the side of the road. The puppy was found on Sunday, September 24, in the 1100 block of NW 4th Avenue.Upon their arrival, law enforcement discovered the deceased dog, along with a white tarp and a black metal dog crate containing feces and vomit, all located in the grassy swale area near the reporting party’s home.The dog, identified as a tan and white male pit bull puppy aged approximately two to three months, was found lying on its side. According to the police report, a responding officer could “could see the puppy’s ribs protruding and it appeared the puppy had not been dead long – there were flies, but no obvious signs of decomposition.”The puppy did not have a collar and showed signs of severe malnourishment. Authorities believe the puppy may have sustained an injury to one of its front legs.Detectives believe...

Police: Mother and son arrested for $800,000 jewelry heist in Hialeah

Published Wed, 25 Dec 2024 07:13:06 GMT

A man and woman involved in an armed robbery in Hialeah on Sept. 16 were arrested after nearly a month of detectives searching for the criminals. Fifty-five-year-old Lourdes Diaz and 24-year-old Julian Flores have been taken into custody in connection with the robbery, during which the victim was targeted outside her beauty salon, and a large amount of gold jewelry was stolen. A police report stated that the victim was leaving her beauty salon located at 7751 W 28th Ave. She was in the process of loading a large box containing valuable gold jewelry into her 2022 Chevrolet Tahoe when she was approached by Flores. According to the arrest report, Flores forcefully attempted to snatch the victim’s luggage, hitting her hands with the firearm. The victim, fearing for her life, resisted and screamed for help, holding onto her precious cargo. In response, Flores pistol-whipped the victim multiple times, causing her injuries. During the struggle, a gunshot was fired, compelling the v...

Florida student arrested after allegedly stabbing teacher with pencil

Published Wed, 25 Dec 2024 07:13:06 GMT

(CNN) – A middle school student has been arrested for allegedly assaulting a teacher, stabbing her hand with a pencil and striking her over the head with a backpack in Collier County.The incident unfolded when the teacher, attempting to address an issue with the student over scissors, prompted the student to become emotional and cry. The teacher planned to send the student to the counselor and, as she reached to hand him a pass, he unexpectedly stabbed her hand with a mechanical pencil.When the teacher tried to remove the student from the classroom, the student hit her over the head with a backpack. Meanwhile, other students were relocated to a secure area.The Collier County Sheriff’s Office has arrested the student on charges of battery on a public or private education employee and disruption of a school function.