FTX assets: Lawyers located billions in cash and crypto located

Two months after FTX filed for bankruptcy, lawyers for the cryptocurrency exchange have begun to identify and put a value on its assets, as they determine how much they will be able to recover to repay lenders and customers who lost billions of dollars. In a court filing, lawyers from the New York firm of … Read more

GoMechanic to reduce workforce by 70%, says co-founder Amit Bhasin

Car workshop and auto spare parts platform, GoMechanic is going to let go of approximately 70% of its workforce. This was announced by co-founder Amit Bhasin in a long LinkedIn post. GoMechanic, which offers everything from mechanics to carwashing services on an app, bills itself as having India’s largest auto service center network. With its … Read more

ED attaches Amway India’s assets worth ₹757.77 crore

The Enforcement Directorate has attached assets worth ₹757.77 crore of Amway India Enterprises Private Limited, which has been accused of running a multi–level marketing scam. The attached properties include a land parcel and factory building of Amway in Tamil Nadu’s Dindigul district, plant and machineries, vehicles, bank accounts and fixed deposits. The 36 bank accounts … Read more

How bedroom trader Navinder Sarao made his first millions and kickstarted an odyssey that ended with historic market manipulation and a $1 trillion crash

Navinder Singh Sarao was arrested in 2015, accused of helping cause a $1 trillion market crash. Sarao was accused by the US government of manipulating markets by posting then canceling huge volumes of orders to trick other participants about supply and demand — a brand new offence known as ‘spoofing.’ In this extract from hs … Read more