All posts tagged "Investments"

Former Florida Power & Light CEO Eric Silagy made millions selling his stock as a political scandal rocked the energy company, according to a federal court lawsuit. First reported by the Orlando Sentinel, the lawsuit alleges that current and former officers and board members of NextEra Energy, Inc., the parent company of Florida Power & Light, violated federal securities laws by making “materially false and misleading statements” related to the company’s political spending. The suit was filed in the Southern District of Florida by two investors, Sara Lewis and James Lewis. The suit, filed in O......

NEW YORK — The former chief financial officer of collapsed cryptocurrency exchange FTX testified in Manhattan Federal Court on Thursday that he carried out financial crimes alongside company co-founder Sam Bankman-Fried. Bankman-Fried, 31, is accused of defrauding FTX clients and investors who thought their money was safely stored in the exchange he co-founded with Gary Wang in 2019. Prosecutors charge Bankman-Fried funneled up to $10 billion from the company to pay off the debts of his hedge fund Alameda Research while bankrolling a glamorous lifestyle that had him hobnobbing with celebrities......

PHILADELPHIA — The Pennsylvania Republican Party appears to be getting its wish next week — former hedge fund manager David McCormick will announce his candidacy for the U.S. Senate on Thursday in Pittsburgh. That lines up McCormick for a challenge against a potent Pennsylvania political brand, U.S. Sen. Bob Casey, a Democrat seeking a fourth six-year term. McCormick, a West Point graduate and former hedge fund CEO who owns a home in Pittsburgh, has been identified by establishment Republicans in the state as their best option against Casey as their party attempts to win back control of the Se......

In the end, Rep. Marjorie Taylor Greene's now-ex-husband appears to have taken the couple's most MAGA investment: shares of stock in Donald Trump social media venture.

Gone from Greene's personal investment portfolio is a jointly held stock in Digital World Acquisition Corp. — a special purpose acquisition company, or SPAC, that’s supposed to merge with Trump's Truth Social social media platform, according to the Georgia congresswoman's newly filed annual financial disclosure.

Greene, on Oct. 22, 2021, became the first member of Congress to personally invest in Digital World Acquisition Corp. Greene reported that she and her then-husband Perry Greene purchased between $15,001 and $50,000 worth of Digital World Acquisition Corp. stock that day. The value of Digital World Acquisition Corp. stock has since plummeted....

NEW YORK — Disgraced cryptocurrency Sam Bankman-Fried had his bail revoked Friday and was remanded to custody ahead of his his multi-billion dollar fraud trial, a federal judge ruled Friday. Feds say Bankman-Fried, founder of FTX, engaged in witness tampering by leaking to the New York Times private writings of his ex-girlfriend and co-conspirator, Caroline Ellison, asking the judge to revoke his $250 million bail. Bankman-Fried’s lawyers argued they can’t prepare his case with him in jail because of the jumble of paperwork Bankman-Fried has to help them through, due to restricted technology a......

The finance bro drama “Billions” returns for its seventh and final season on Showtime, with a hedge fund manager eyeing a presidential run. That would be the smooth-presenting Michael Prince (Corey Stoll), who took over after his antsier, rougher-around-the-edges predecessor Bobby Axelrod (Damian Lewis) absconded to parts unknown when the walls — and the law — were closing in. Prince fancies himself a compassionate capitalist, but huge sums of money are at stake and said compassion is more a branding opportunity than an actual ideology. Not that he would ever admit that to himself. Which is wh......