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FTX sues Joseph Bankman and Barbara Fried, parents of Sam Bankman-Fried

Crime

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September 22, 2023

On Monday, FTX sued Joseph Bankman and Barbara Fried, the parents of jailed former CEO of FTX Sam Bankman-Fried. In the complaint, lawyers for the crypto exchange allege that Mr. Bankman and Ms Fried received assets including millions of dollars and a luxury home in the Bahamas that was purchased by FTX. They also said that the Stanford based power couple helped their son to cover up complaints, set up straw donors and more.

The lawsuit said that Sam Bankman-Fried’s parents received a $10 million cash gift from their son. FTX also purchased a $16.4 million dollar home in the Bahamas for them. They also asked FTX employees if landscape services could be billed directly to FTX and to place orders of expensive furniture and home accessories for the house, a month after it was purchased. They often visited the home and also obtained residency in the Bahamas the cost of which was reportedly paid by FTX.

FTX lawyers claimed that Joseph Bankman, a renowned tax professor, helped FTX in philanthropic efforts. He was instrumental in helping to arrange loans amounting to hundreds of millions of dollars to senior employees in the crypto exchange. He was listed as a member of the management team, according to an internal document.

The lawyers also showed messages where Mr. Bankman questioned his $200,000 salary per annum as he allegedly thought he would be getting $1 million a year. The lawsuit also detailed other allegations such as a $10 million cash gift, flying by private jets, staying at expensive hotels and more.

Mr Bankman played a role in covering up allegations leveled by a former FTX lawyer. The lawyer had alleged that some businesses of Sam Bankman-Fried had taken part in illegal practices such as money laundering and price manipulation. Mr. Bankman suggested that the lawyer should be investigated instead of probing the claims made by him.

The lawsuit noted that although Ms Fried did not work directly for FTX, she was involved in Sam Bankman-Fried’s work as she helped her son’s company make political donations using “straw donations.”

A straw donor undermines transparency as the person or entity uses a scheme that conceals the source of the money. This strategy is used to avoid disclosure of the financial sources who donate to federal campaigns.

Two former FTX employees, Nishad Singh and Ryan Salame have already pleaded guilty to making political donations that were not above board. Former CEO Sam Bankman-Fried has pleaded not guilty to all the criminal charges filed against him and his trial is scheduled on October 3, 2023.

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WTA News: WTA roundup: Greet Minnen, Yulia Putintseva advance in China

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September 22, 2023

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WTA News: WTA roundup: Greet Minnen, Yulia Putintseva advance in China

Belgium’s Greet Minnen and Kazakhstan’s Yulia Putintseva pulled off upsets in the quarterfinals of the Guangzhou Open on Thursday in China.

The unseeded Putintseva eliminated third seed Tatjana Maria of Germany 6-4, 6-7 (6), 6-0. Putintseva converted six of 12 break points and saved nine of 11, overcoming Maria’s 6-1 edge in aces.

Minnen, the seventh seed, ousted fourth seed Lucia Bronzetti of Italy 6-7 (8), 6-4, 6-1.

Top seed Magda Linette of Poland avoided the upset in defeating fifth seed Rebeka Masarova of Spain 7-5, 7-6 (6).

In the other quarterfinal between unseeded players, China’s Xiyu Wang needed three sets to get past Slovakian Viktoria Hruncakova 6-4, 4-6, 6-3.

Minnen faces Wang in one semifinal Friday, while Linette plays Putintseva.

Guadalajara Open Akron

American Caroline Dolehide overcame an early deficit to oust a confident Martina Trevisan of Italy 3-6, 7-6 (9), 6-3 on Thursday in the quarterfinals in Guadalajara, Mexico.

Dolehide won 57 of 81 first-service points and saved eight of 12 break points to get past Trevisan, who eliminated top-seeded Tunisian Ons Jabeur on Wednesday. Dolehide also fended off a match point in the second-set tiebreaker before winning three straight points to a force a third set that she ultimately prevailed in.

In the semifinals, Dolehide will face countrywoman Sofia Kenin, who was a 6-4, 6-7 (6), 6-1 winner over Canada’s Leylah Fernandez on Thursday.

Greek No. 2 seed Maria Sakkari beat Colombia’s Emiliana Arango 6-3, 6-4 and third-seeded Caroline Garcia of France beat 10th-seeded Belarusian Victoria Azarenka by an identical score in the day’s other quarterfinal matches.

–Field Level Media

FRIENDLY News: USWNT beats South Africa in Julie Ertz’s final match

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September 22, 2023

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FRIENDLY News: USWNT beats South Africa in Julie Ertz’s final match

Julie Ertz bid farewell to the U.S. women’s national team on Thursday, helping it to a 3-0 victory against South Africa in a friendly in Cincinnati.

The two-time World Cup champion (2015, 2019) left in the 36th minute to a prolonged standing ovation, moments after the U.S. took a 2-0 lead.

Ertz, who debuted for the U.S. in 2013, saw the team go 101-17-5 in her 123 international matches. She was twice named the U.S. Soccer Female Player of the Year (2017, 2019).

On Thursday, Lynn Williams scored twice for the U.S., which was playing in its first match since it lost to Sweden on penalties on Aug. 6 in the round of 16 of the Women’s World Cup. That was the first time the four-time champions had not reached the semifinals.

Ertz took 18 months off following the Olympics in 2021 because of injuries and the birth of her son, but she played every minute of all four 2023 World Cup matches.

Soon after the tournament, Twila Kilgore was named interim coach following the resignation of Vlatko Andonovski.

The match on Thursday in Cincinnati was all about honoring Ertz, who announced her retirement on Aug. 31. She wore the captain’s armband and her teammates tried to set her up for her 21st goal — to no avail, although she came close.

In the 18th minute, the midfielder headed a corner kick by Lindsey Horan over the bar; three minutes later, her header from another corner by Horan was easily saved by Kaylin Swart.

Williams scored in the 32nd minute, and Trinity Rodman made it 2-0 in the 34th, leading to the final send-off for Ertz. Williams got her brace in the 41st minute.

Alyssa Naeher made one save for her eighth shutout this season.

Defender M.A. Vignola made her debut in her hometown in the 46th minute.

Ertz will not play against South Africa in Chicago on Sunday in what will be another emotional goodbye as Megan Rapinoe plays her final U.S. match. She will complete her club season with OL Reign of the NWSL before retiring.

–Field Level Media

PGA News: PGA Tour will keep season opener on Maui, help with wildfire recovery

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September 22, 2023

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PGA News: PGA Tour will keep season opener on Maui, help with wildfire recovery

The PGA Tour announced Thursday it will open the 2024 season at the Plantation Course at Kapalua on Maui as scheduled, five months after fires devastated the island.

The Sentry, previously called the Sentry Tournament of Champions, will be played Jan. 4-7 and serve as a signature event open to the top 50 from the 2022-23 FedEx Cup standings and any player who won on tour this season.

There had been question as to whether the tournament would have to relocate after wildfires in the town of Lahaina, Hawaii killed at least 97 people and wiped out more than 2,000 structures.

College basketball’s Maui Invitational is relocating to Honolulu this November, as the Lahaina Civic Center serves as a community center for those displaced or affected by the wildfires.

The Kapalua Resort was not damaged by the fires. One of its courses, the Bay Course, reopened this week. The Plantation Course is scheduled to reopen in mid-October.

In a memo to PGA Tour players from chief competitions officer Tyler Dennis, Hawaii Gov. Josh Green is quoted as saying that playing The Sentry on Maui “is meant to bring hope for recovery to the families and businesses on Maui that have been so deeply affected in every way by the disaster. People from Hawaii and around the world can resume travel to this special place and help it begin to recover economically.”

Dennis’ memo added that the tour is planning ways to raise awareness and help with fundraising and community service on the island.

Two-time major champion Collin Morikawa, who is expected to be part of the field at The Sentry, said his grandfather owned a restaurant on the island for several years. It had closed before the fires. Morikawa pledged to donate $1,000 for every birdie he made during this summer’s FedEx Cup playoffs.

–Field Level Media

CFL News: Improving Elks entertain playoff-hungry Lions

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September 22, 2023

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CFL News: Improving Elks entertain playoff-hungry Lions

After pulling off a comeback for the ages Saturday, the B.C. Lions will aim to clinch a playoff spot Friday night.

B.C. travels to Edmonton for a matchup with an Elks team that has suddenly figured out how to win at home.

Edmonton broke a 22-game home losing streak on Aug. 27 and has won its last two home games, as well as four of its last five games after an 0-9 start.

The Elks can play spoiler against the Lions, who trailed Ottawa 37-21 at the 3-minute warning in their last game before rattling off three touchdowns to pull off a dramatic 41-37 win. Vernon Adams supplied the winning score, a 16-yard strike to Lucky Whitehead in the final minute.

“Just so crazy,” Adams said. “We’re at the house, we’re home, I see fans leaving, giving up on us … it was amazing, man.”

Adams finished 26 of 37 for 327 yards, his fifth consecutive 300-yard game, and three touchdowns. He got help from Terry Williams, who returned a missed field goal 120 yards for a score that drew B.C. (9-4) within 37-34 at the 1:21 mark.

Meanwhile, the Elks (4-10) still harbor faint playoff hopes thanks to their recent surge. They’re coming off a 36-27 win on Sept. 15 at Saskatchewan, upping their scoring average to 29 points over the last six games since coach Chris Jones installed Tre Ford as the quarterback and Jarious Jackson as the offensive coordinator.

The difference has been a rushing attack that’s recently been one of the most potent in CFL annals. Edmonton is averaging 205 rushing yards in the last six games and has been over 200 in three straight games, the first time a CFL team has accomplished that since Saskatchewan did it in 2002.

Running back Kevin Brown has 318 yards in the last two games, but Jones says the mobile Ford has been a big key.

“He extends drives to give you more opportunities to run the football,” Jones said.

The Lions have won both previous meetings this year via shutout — 22-0 on June 17 and 27-0 in Edmonton on July 29.

–Field Level Media

Five-star F Kon Knueppel commits to Duke

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September 22, 2023

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Five-star F Kon Knueppel commits to Duke

Kon Knueppel, a five-star small forward in the Class of 2024, committed to Duke on Thursday.

Knueppel visited the Durham, N.C., campus over the weekend after also visiting Wisconsin and Virginia.

Ranked No. 15 overall and the No. 6 small forward in his class by the 247Sports composite, Knueppel hails from Milwaukee and will play his senior year of high school at Wisconsin Lutheran.

The 6-foot-5, 205-pound wing is the third commitment of the cycle for second-year Duke coach Jon Scheyer. The Blue Devils already had commitments from small forwards Isaiah Evans, a five-star, and Darren Harris, a four-star.

Duke’s class moved up to No. 2 in 247Sports’ rankings, behind only rival North Carolina.

–Field Level Media

NAS News: 2023 AutoTrader EchoPark Automotive 400: Preview, Best Bets, Longshot Pick

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September 22, 2023

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NAS News: 2023 AutoTrader EchoPark Automotive 400: Preview, Best Bets, Longshot Pick

The second elimination phase of the NASCAR Cup Series begins with Sunday’s AutoTrader EchoPark Automotive 400 at Texas Motor Speedway.

William Byron, who has won a series-best five races this season, and regular-season champion Martin Truex Jr. hold a slim four-point edge over Denny Hamlin. Hamlin is coming off a win in Bristol and is nine points clear of Kyle Larson to begin the Round of 12.

Tyler Reddick, who won two weeks ago and is the defending champ this week, currently occupies the eighth and final spot that will advance after the next three races. But that’s only three points ahead of Ross Chastain and Brad Keselowski, with Ryan Blaney another three points back and Bubba Wallace currently eight points behind Blaney.

“I’m looking forward to Texas,” Byron said. “It will be hot there and slick, which will lead to guys making mistakes. We just need to not be one of them and stay ahead of all that. We need to try to win it or at least maximize our points day.

“You have to take advantage of every opportunity you get if you want to run for a championship. There are only 12 cars left. You need to execute. This is the time to really show what you have.”

Our motor racing experts preview Sunday’s race and provide their five best bets to win this week along with one longshot worth keeping an eye on.

AUTOTRADE ECHOPARK AUTOMATIVE 400
Texas Motor Speedway, Fort Worth, Texas
The Date: Saturday, Sept. 24, 3:30 p.m. ET
The Distance: 400 miles
Defending Champion: Tyler Reddick
Cup Series Leader: William Byron, Martin Truex Jr.
TV: USA Network
Radio: SiriusXM NASCAR Radio

5 BEST BETS
Denny Hamlin (+525 at BetMGM)
The three-time Daytona 500 winning veteran is still competing for his first series title in a sure-bet Hall of Fame career. He is one of only four current Playoff drivers (also including Larson, Reddick and Kyle Busch) to win a Playoff race at Texas. And his three Texas trophies are second only to the four-time winner Busch among active drivers. Hamlin has scored top-10 finishes in the last three Texas races.

Kyle Larson (+600)
Larson’s 2.33 average finish in the opening three Playoff races is second all-time to Greg Biffle (1.67 in 2008) in a three-race Playoff span. He last won at Texas in 2021 leading a dominating 256 of the 334 laps — eclipsing Jimmie Johnson’s 255 laps led in a 2013 victory — and setting the stage for what would be his first NASCAR Cup Series championship.

Larson’s 13 top-five finishes are most in the series this season and he and Byron are tied for most top-five finishes (three) at 1.5-mile tracks. Larson is the book’s biggest liability this week as he leads the field with the most total bets (16.7 percent) and money (23.4 percent) backing him to win.

William Byron (+800)
Byron boasts the most laps led (877) overall and has the best average finish (5.25) and most laps led (277) specifically on 1.5-mile tracks this season. He’s BetMGM’s third-biggest liability, having drawn 9.4 percent of the total bets.

Martin Truex Jr. (+800)
Truex has had a rough start to the playoffs, with last week’s 19th at Bristol at least an improvement on his 36th at Kansas. He’s still in excellent position to begin the Round of 12, and is third at BetMGM with 10.1 percent of the money backing him to win.

Kyle Busch (+1400)
The veteran is a threat at any track and is typically popular with the public. It’s no different this week, with Busch being the book’s second-biggest liability as he has been backed by 7.8 percent of the bets and 10.3 percent of the money. Busch is coming off a 20th at Bristol, but remains in contention in sixth place.

LONGSHOT PICK
Kevin Harvick (+2500)
Harvick, who has been eliminated from playoff contention in his final season after reaching the Round of 16, also has three wins on the Fort Worth high banks. He has yet to win this season, but does have 12 top-10s and six top-5s.

–Field Level Media (NASCAR Wire Service contributed to this story)

WTA News: Greet Minnen, Yulia Putintseva advance in China

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September 21, 2023

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WTA News: Greet Minnen, Yulia Putintseva advance in China

Belgium’s Greet Minnen and Kazakhstan’s Yulia Putintseva pulled off upsets in the quarterfinals of the Guangzhou Open on Thursday in China.

The unseeded Putintseva eliminated third seed Tatjana Maria of Germany 6-4, 6-7 (6), 6-0. Putintseva converted six of 12 break points and saved nine of 11, overcoming Maria’s 6-1 edge in aces.

Minnen, the seventh seed, ousted fourth seed Lucia Bronzetti of Italy 6-7 (8), 6-4, 6-1.

Top seed Magda Linette of Poland avoided the upset in defeating fifth seed Rebeka Masarova of Spain 7-5, 7-6 (6).

In the other quarterfinal between unseeded players, China’s Xiyu Wang needed three sets to get past Slovakian Viktoria Hruncakova 6-4, 4-6, 6-3.

Minnen faces Wang in one semifinal Friday, while Linette plays Putintseva.

–Field Level Media

ATP News: ATP roundup: Andy Murray reaches Round of 16 at Zhuhai

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September 21, 2023

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ATP News: ATP roundup: Andy Murray reaches Round of 16 at Zhuhai

Great Britain’s Andy Murray, playing in his first competition in China since 2019, defeated the home country’s Ye Cong Mo 7-5, 6-3 on Thursday in the Zhuhai Championships.

A former top-ranked player now No. 41 in the world, the seventh-seeded Murray saved all five break points that he faced. He had a 10-1 edge in aces over Mo, who is ranked No. 668.

Murray next will play Russian Aslan Karatsev, who defeated Italy’s Matteo Arnaldi 6-7 (5), 7-6 (5), 6-2.

In other action in the Round of 32, American sixth seed Mackenzie McDonald eliminated China’s Juncheng Shang 6-4, 6-7 (3), 6-3; fifth seed Tomas Martin Etcheverry of Argentina defeated Australian qualifier Luke Saville 6-4, 6-4; and Kimmer Coppejans of Belgium downed American Aleksandar Kovacevic 7-6 (4), 6-1.

Alex Bolt advanced when his opponent, Diego Schwartzman of Argentina, retired with the Australian ahead 6-3, 4-2. Cristian Garin of Chile, Alexandre Muller of France and Australian qualifier Marc Polmans also advanced.

Chengdu Open

American Marcos Giron upset fifth seed Alexander Bublik of Kazakhstan 7-6 (6), 6-3 in the Round of 32 in China.

Bublik had more aces (4-1) and winners (27-16), but he also had more double faults (7-1) and unforced errors (22-6). Giron converted three of five break points and saved five of seven.

The upsets also included Jordan Thompson winning a battle of Australians in knocking off sixth seed Max Purcell 6-2, 7-6 (8).

Seventh seed Miomir Kecmanovic of Serbia took care of qualifier Benjamin Lock of Zimbabwe 6-2, 6-3.

Other winners Thursday included Russia’s Pavel Kotov, Serbia’s Dusan Lajovic, Frenchman Arthur Rinderknech, Peru’s Juan Pablo Varillas and Australians Christopher O’Connell and Philip Sekulic.

–Field Level Media

Clorox hack attack leads to bleach, cat litter, disinfectants, wipes, cleaner shortages, earnings could dip

Business

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September 21, 2023

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Clorox Co. (CLX) said that there were product shortages across the nation in all its product categories after an attack on its information technology (IT) systems in August. Many goods are back to almost normal production and distribution, but the company continues to face supply chain issues. There are shortages in the availability of disinfectants, wipes, home and industrial cleaners, as well as cat litter. So, both consumers and pets might have to change the brands they use temporarily if not permanently.

Clorox has been dealing with IT hacks for a while and sometimes had to manually process orders as its systems remain down. However, the shortage is nothing like what was faced during the pandemic, and the biggest fallouts could be a loss in profit in the next quarter and a loss of brand loyalty as consumers may be forced to shift brands and not return.

Americans love their pets a lot and provide them with their favorite brands of all the items they need. Clorox makes three popular, yet different brands of kitty litter called Fresh Step, Scoop Away and Ever Clean. These feline litter items are currently the latest to face massive shortages and this might lead to owners and pets having to change their regular cat litter brands.

Organic Greek Vitamin Bottles and Multivitamin Gummies

Cats might find it difficult to transition to another brand, so it is advisable to choose a new brand close to the previous brand used, if necessary.

Earlier, Clorox had said that it was facing shortages in its wipes, cleaners and other products. Although this might affect consumers, adults might be able to switch brands faster, when necessary, unlike kids and animals.

Clorox has said that its issues are expected to improve by next week. It also said that products were reaching normal production and distribution levels at different places across its portfolio. It has not been mentioned which products are affected most or which ones have seen fewer disruptions.

The Oakland, California based company said that its fiscal quarter ending September 30 will show the effects of the shortages and disruptions, but it was early to say whether these detrimental financial effects would be seen beyond this quarter.

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FTX sues Joseph Bankman and Barbara Fried, parents of Sam Bankman-Fried

WTA News: WTA roundup: Greet Minnen, Yulia Putintseva advance in China

FRIENDLY News: USWNT beats South Africa in Julie Ertz’s final match

PGA News: PGA Tour will keep season opener on Maui, help with wildfire recovery

CFL News: Improving Elks entertain playoff-hungry Lions

Five-star F Kon Knueppel commits to Duke

NAS News: 2023 AutoTrader EchoPark Automotive 400: Preview, Best Bets, Longshot Pick

WTA News: Greet Minnen, Yulia Putintseva advance in China

ATP News: ATP roundup: Andy Murray reaches Round of 16 at Zhuhai

Clorox hack attack leads to bleach, cat litter, disinfectants, wipes, cleaner shortages, earnings could dip

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