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Sam Bankman-Fried: Disgraced 'crypto king' jailed for 25 years after stealing billions of dollars fr

28 March

Disgraced crypto entrepreneur Sam Bankman-Fried has been sentenced to 25 years in prison after being convicted of stealing billions of dollars from his customers.

He was the chief executive of FTX, which suddenly went bankrupt in November 2022 - leaving millions of users frozen out of their accounts and unable to make withdrawals.
The 32-year-old American could have faced up to 100 years behind bars - but last month, his lawyers argued such a sentence would have been "barbaric" and a five-year term would be more appropriate.
Initial reports said he had been sentenced to 20 years - but this has since been corrected to 25.
Prosecutors had asked the judge to jail Bankman-Fried for 40 to 50 years, arguing the public needed protecting from the fraudster and a harsh punishment would deter other criminals.
"The defendant victimised tens of thousands of people and companies, across several continents, over a period of multiple years," prosecutors said in a court filing.
"He stole money from customers who entrusted it to him; he lied to investors; he sent fabricated documents to lenders; he pumped millions of dollars in illegal donations into our political system; and he bribed foreign officials. Each of these crimes is worthy of a lengthy sentence."
Prosecutors also said Bankman-Fried had cost customers, investors and lenders over $10bn (£7.9bn) by misappropriating funds to fuel his quest for influence and dominance in the new industry, and had illegally used money from FTX depositors to cover his expenses, which included purchasing luxury properties in the Caribbean, alleged bribes to Chinese officials and private planes.
At the sentencing hearing in Manhattan, Judge Lewis Kaplan said the businessman lied on the witness stand when he insisted he had no knowledge of customer funds being used this way.
The judge also described Bankman-Fried's claim that victims will be paid back in full as "misleading and logically flawed".
"A thief who takes his loot to Las Vegas and successfully bets the stolen money is not entitled to a discount on the sentence by using his Las Vegas winnings to pay back what he stole," Judge Kaplan warned.
The judge said that the sentence reflected "a risk that this man will be in a position to do something very bad in the future".
"And it's not a trivial risk at all."
He added that it was "for the purpose of disabling him to the extent that can appropriately be done for a significant period of time".
Before he was sentenced, Mr Bankman-Fried apologised in a rambling statement.
"A lot of people feel really let down. And they were very let down. And I'm sorry about that. I'm sorry about what happened at every stage," he said.
"My useful life is probably over. It's been over for a while now, from before my arrest."
Judge Kaplan said he would advise the Federal Bureau of Prisons to send him to a medium-security prison or less near the San Francisco area because he's unlikely to be a physical threat to other inmates or prison staff, and his autism and social awkwardness would make him vulnerable to other inmates in a high-security location.
Read more:
The meteoric rise and even sharper fall of Sam Bankman-Fried

Why industry may never recover from downfall of 'crypto king'
It took just five-and-a-half hours for a jury in New York to convict him of two counts of fraud and five of conspiracy last November.
Three people from Bankman-Fried's inner circle - including his former girlfriend Caroline Ellison - pleaded guilty to related crimes and testified at his trial.
Bankman-Fried's conviction followed a dramatic fall from grace from his time as chief executive of FTX - the second-largest cryptocurrency exchange in the world at one time - when he was worth billions of dollars on paper.
FTX allowed investors to buy dozens of virtual currencies, from Bitcoin to more obscure ones like Shiba Inu Coin.
Flush with billions of dollars of investors' cash, Bankman-Fried rode a crest of success that included a Super Bowl advertisement and celebrity endorsements from stars like quarterback Tom Brady, basketball star Stephen Curry and comedian Larry David.
But after the collapse of cryptocurrency prices in 2022, Bankman-Fried tried to plug the holes in the balance sheet of FTX's hedge fund affiliate, known as Alameda Research.
Bankman-Fried's victims - an estimated 80,000 of whom are based in the UK - remain out of pocket, with some losing their life savings.
Prosecutors described his crimes as one of the biggest financial frauds in US history.

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Man arrested over death of Gogglebox star George Gilbey

28 March

A man in his 40s has been arrested on suspicion of gross negligence manslaughter in connection with the death of Gogglebox star George Gilbey.

Essex Police say Gilbey, 40, is thought to have died after a fall at work.
He was best known for appearing on the Channel 4 show alongside his mother Linda McGarry and stepfather Pete McGarry, who died in 2021 aged 71.
The reality star also appeared on the 14th series of Celebrity Big Brother in 2014, reaching the final.
An Essex Police spokesperson said: "As part of our ongoing investigation into the death of a man in Campfield Road, Shoebury, we have arrested a man in their 40s from the Witham area on suspicion of gross negligence manslaughter.
"This is a joint investigation with the Health and Safety Executive and our inquiries are ongoing."
Essex Police previously said they were called to an incident in Shoebury, Southend-on-Sea at around 10am on Wednesday.
A spokesperson for the force said yesterday that "a man who was working at height had fallen and sustained an injury".
"The ambulance service, including air ambulance, were in attendance. Sadly, the man died at the scene."
Gilbey, from Essex, joined Gogglebox in its second series in 2013 before he and his family were dropped the following year when he signed up for Celebrity Big Brother. The family later returned to the series.
A spokesperson for the award-winning programme said: "George was part of the Gogglebox family for eight series alongside his mum Linda and stepdad Pete.
"Our thoughts and deepest condolences are with Linda and George's family and friends at this very sad time. The family has asked for privacy."
Gilbey appeared on the Channel 5 version of Celebrity Big Brother alongside other famous faces including The Hills star Stephanie Pratt and American actor Gary Busey, who won the series.

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45 people killed in bus crash in South Africa – girl, 8, the sole survivor

28 March

More than 40 people have died after a bus veered off a bridge in South Africa and crashed down onto rocks some 50 metres below.

The bus, which had a Botswanan registration plate, had a total of 46 people on board, including the driver.
Only one child, an eight-year-old girl, survived the crash and is being treated in hospital.
In a statement, the transport ministry said the driver lost control of the vehicle while going a round bend.
The bus caught fire after the crash near Mamatlakala in the northeast province of Limpopo.
The passenger bus was transporting people from Botswana, who were reportedly travelling to Moria in Limpopo for an Easter weekend church service.
Rescue operations continued until the late hours of Thursday evening. Some bodies were burned beyond recognition and others were trapped inside the debris.
Sky's Africa correspondent Yousra Elbagir has said accidents like this are not uncommon over the Easter period in South Africa - with 252 people killed in crashes over the four-day weekend in the country last year.

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UK weather: 'Danger to life' warning of strong winds ahead of Easter

28 March

The Met Office has warned there is a "small chance" of injuries and "danger to life" as a result of strong winds and large waves hitting the south of England.

Winds of up to 70mph battered the south coast, along with hail and thunder, as the Easter weekend kicks off.
Yellow weather warnings for rain and strong winds were issued across parts of the south of England and Northern Ireland respectively.
Find out the forecast for where you live
The caution for the south of England warned of a slight chance of power cuts as well as "a small chance that injuries and danger to life could occur from large waves and beach material being thrown onto sea fronts, coastal roads and properties".
The warning is in place until 11.59pm on Thursday.
The warning for Northern Ireland said "a few" homes and businesses could be flooded and is in place until 3am on Friday.
The unsettled conditions are expected to continue into Easter, as the bank holiday weekend leads into a two-week break for many schools.
Sky News weather producer Joanna Robinson said Good Friday will be less windy than Thursday, with a few showers around on Saturday and Easter Sunday, along with pleasant sunny spells.
Temperatures of up to 15C (59F) are expected in west London and 14C (57.2F) in Manchester on Sunday, which is typical for the time of year.
Read more from Sky News:
King delivers personal Easter message
Man arrested over death of Gogglebox star
Owners of Crooked House appeal against rebuild order

Rain is then set to return to the south on Easter Monday.
It comes as Britons have been warned of long delays over their Easter getaways with more than 14 million journeys expected on the roads alone.
At least three major airports have said that the coming days will be their busiest-ever Easter weekend while 493 different pieces of planned engineering works are set to take place on the railways.
Meanwhile, nearly two inches of snow fell in parts of South West England and Wales overnight on Wednesday.
Temperatures dropped to lows of -1.2C in Okehampton, west Devon, while nearly three inches of snow was recorded in Sennybridge, Powys, on Thursday morning.
Rose Mallard, 50, a smallholder from near Bideford, north Devon, said it was a "gift" to wake up to see the snow settled and a beautiful blue sky.

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Macron and Lula 'bromance' on Brazilian island sparks social media frenzy

28 March

The presidents of France and Brazil - both wearing white open-necked shirts - have been pictured smiling warmly at each other and embracing, with social media users calling it a "bromance".

Luiz Inacio Lula da Silva clutched Emmanuel Macron's hand as he led him through some difficult terrain on the island of Combu in the Amazon rainforest.
The leaders stopped and smiled for the cameras, as Mr da Silva, also known as Lula, clutched his French counterpart's wrist.
When they headed off again, Mr Macron was grinning widely.
The pictures have been delighting people on the internet.
A social media user on X said: "Macron and Lula look like they just got married and are having a whirlwind honeymoon", while another wrote: "Pre-wedding shoot of the year."
Mr Macron has been on a three-day visit to Brazil that aims to relaunch the bilateral relationship and strategic partnership which stalled during the previous government of Jair Bolsonaro.
It is not the first time the French president has appeared to enjoy a close friendship with a fellow world leader.
He and Prime Minister Rishi Sunak seemed to get on well when they met in Paris in March 2023.
"Le bromance" was mooted. The pair had similar backgrounds, were close in age, and even had a comparable sartorial style, it was suggested.
There were also some chuckles with former PM Boris Johnson, although, according to Reuters, the two men had some disagreements over "sausages and submarines".
Mr Macron also appeared to enjoy Donald Trump's company.
"The couple seemed happy to be together again," wrote The New York Times in April 2018 when the French president visited the White House.
"I like him a lot," Mr Trump told reporters.
Earlier, in the Oval Office, the then American leader had "gently brushed what he said was dandruff off Mr Macron's shoulder", the paper reported.
Its correspondent added: "Moments later, as they sat side by side, Mr Macron placed his hand on Mr Trump's knee."
That may be a bromance that could be revived later in the year, should Mr Trump win a second term in the White House.

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