- Nicole Kidman, Lulu Wang Break Down ‘Expats’ Premiere, and How Blondie’s ‘Heart of Glass’ Came to Score ‘Haunting’ Dance Scene Variety
- Private yachts, occasional wife-swapping and over-the-counter Ozempic: the secret lives of expats The Telegraph
- Nicole Kidman Astounds in ‘Expats,’ Prime Video’s Haunting Series About Womanhood and Regret: TV Review Variety
- ‘Expats’ review: Lulu Wang and Nicole Kidman team up for a painful exploration of grief Mashable
- ‘Expats’ Premiere Recap: Episode 1: ‘The Peak’ Vulture
Tag Archives: WANG
Secretary Blinken to Host Visit by People’s Republic of China (PRC) Director of the CCP Central Foreign Affairs Commission and Foreign Minister Wang Yi – United States Department of State – Department of State
- Secretary Blinken to Host Visit by People’s Republic of China (PRC) Director of the CCP Central Foreign Affairs Commission and Foreign Minister Wang Yi – United States Department of State Department of State
- Wang Yi to arrive in Washington on October 26th for a three-day visit | World DNA WION
- Beijing Stages Charm Offensive to Pave Way for Xi Trip The Wall Street Journal
- China’s top diplomat to visit D.C. amid tensions over South China Sea, Israel The Washington Post
- Top Chinese diplomat to visit Washington ahead of possible meeting between Biden and Xi Yahoo News
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Vera Wang, 74, says she orders McDonald’s ‘EVERY DAY’ and reveals her secrets to a youthful appearance include – Daily Mail
- Vera Wang, 74, says she orders McDonald’s ‘EVERY DAY’ and reveals her secrets to a youthful appearance include Daily Mail
- Vera Wang Admits She Orders McDonald’s ‘Every Day’ in Fast Food Confession — Three Years After Viral Abs Photo Yahoo Entertainment
- Vera Wang says vodka, McDonald’s, Dunkin’ Donuts and ‘hard work’ keep her looking ageless at 74 Page Six
- Fashion icon Vera Wang’s age-defying secrets: Hard work and fast food… DESIMARTINI – Bollywood News & Reviews
- Vera Wang eats McDonald’s ‘every day’ for two weeks Yakima Herald-Republic
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Readout of National Security Advisor Jake Sullivan’s Meeting with Chinese Communist Party Politburo Member and Director of the Office of the Foreign Affairs Commission Wang Yi – The White House
- Readout of National Security Advisor Jake Sullivan’s Meeting with Chinese Communist Party Politburo Member and Director of the Office of the Foreign Affairs Commission Wang Yi The White House
- White House national security adviser met with top Chinese official in highest US-China engagement since spy balloon incident CNN
- US, China agree to maintain communication as officials meet Al Jazeera English
- US and China hold talks on global security in effort to defuse tensions Financial Times
- U.S. holds ‘candid’ talks with China amid Russia’s war in Ukraine CNBC
- View Full Coverage on Google News
Caroline Ellison and Gary Wang: FTX co-founder and ex-chief of hedge fund Alameda Research each pleaded guilty to multiple charges, are cooperating with fed
CNN
—
Two senior executives associated with collapsed crypto exchange FTX have pleaded guilty to multiple criminal charges and are cooperating with federal prosecutors, according to unsealed court records. Additionally, the pair face civil fraud charges from the Securities and Exchange Commission that were announced Wednesday night.
Gary Wang, the co-founder of FTX, and Caroline Ellison, who served as CEO of the hedge fund Alameda Research, pleaded guilty to multiple counts of conspiracy and fraud for their roles in the fraud scheme that led to the collapse of the crypto-trading platform.
Damian Williams, the US attorney for the Southern District of New York, announced the charges in a video message Wednesday night. In a brief statement, he reiterated that the investigation is still ongoing, noting specifically that these new charges in the case are not the last.
Ilan Graff, an attorney for Wang, said: “Gary has accepted responsibility for his actions and takes seriously his obligations as a cooperating witness.” Wang has already appeared in court for his guilty plea.
Ellison’s attorneys could not be immediately reached for comment.
The charges were unsealed as Sam Bankman-Fried was enroute to the United States from the Bahamas, where he was arrested last week on an eight-count indictment for what Williams called one of the largest financial frauds in American history. Bankman-Fried waived his right to contest extradition on Wednesday and boarded a plane for the United States in the early evening.
Bankman-Fried is expected to appear before a judge in Manhattan on Thursday. Prosecutors and his attorneys have been in discussions about a bail package that would allow him to avoid detention, people familiar with the matter told CNN.
Wang cofounded FTX with Bankman-Fried in 2019 and also worked with him at his hedge fund Alameda Research. Ellison became CEO of Alameda in October 2021, according to court filings.
Prosecutors allege Bankman-Fried engaged in multiple fraudulent schemes. Among them, they allege that Bankman-Fried stole money from FTX customers to support Alameda, made investments in other companies, bought luxury real estate and donated tens of millions of dollars to political campaigns.
In letters dated Sunday, December 18, and signed the following day, Ellison and Wang agreed to plead guilty and cooperate with prosecutors.
Ellison is pleading guilty to seven counts, including wire fraud, conspiracy to commit money laundering, conspiracy to commit securities fraud, conspiracy to commit commodities fraud and conspiracy to commit wire fraud. She is charged with the same crimes as Bankman-Fried, except for the campaign finance charges.
Wang has agreed to plead guilty to four counts: wire fraud, conspiracy to commit wire fraud, conspiracy to commit commodities fraud and conspiracy to commit securities fraud.
“As I said last week this investigation is very much ongoing and it’s moving very quickly,” Williams said. “I also said last week’s announcement would not be our last and let me be clear, once again, neither is today’s.”
Federal regulators also charged Ellison and Wang with playing starring roles in a years-long scheme to defraud FTX investors.
The Securities and Exchange Commission allege that Ellison and Wang actively participated in a “scheme to defraud” the investors. Between 2019 and 2022, Ellison manipulated the price of FTT, FTX’s security token, “at the direction of” Bankman-Fried, regulators alleged. The SEC said this manipulation was conducted by purchasing large quantities of FTT on the open market to prop up its price.
Regulators say this alleged manipulation inflated the holdings of Alameda, overstated the hedge fund’s balance sheet and “misled” investors about FTX’s risk exposure.
“When FTT and the rest of the house of cards collapsed, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang left investors holding the bag,” SEC Chairman Gary Gensler said in a statement.
Wang created FTX’s source code that allowed Alameda to divert FTX customer funds and Ellison used misappropriated funds for the hedge fund’s trading activity, according to the SEC.
“Ellison and Wang were active participants in the scheme to deceive FTX’s investors and engaged in conduct that was critical to its success,” the SEC said in a release.
SEC Charges Caroline Ellison and Gary Wang with Defrauding Investors in Crypto Asset Trading Platform FTX
Washington D.C., Dec. 21, 2022 —
The Securities and Exchange Commission today charged Caroline Ellison, the former CEO of Alameda Research, and Zixiao (Gary) Wang, the former Chief Technology Officer of FTX Trading Ltd. (FTX), for their roles in a multiyear scheme to defraud equity investors in FTX, the crypto trading platform co-founded by Samuel Bankman-Fried and Wang. Investigations into other securities law violations and into other entities and persons relating to the alleged misconduct are ongoing.
According to the SEC’s complaint, between 2019 and 2022, Ellison, at the direction of Bankman-Fried, furthered the scheme by manipulating the price of FTT, an FTX-issued exchange crypto security token, by purchasing large quantities on the open market to prop up its price. FTT served as collateral for undisclosed loans by FTX of its customers’ assets to Alameda, a crypto hedge fund owned by Wang and Bankman-Fried and run by Ellison. The complaint alleges that, by manipulating the price of FTT, Bankman-Fried and Ellison caused the valuation of Alameda’s FTT holdings to be inflated, which in turn caused the value of collateral on Alameda’s balance sheet to be overstated, and misled investors about FTX’s risk exposure.
In addition, the complaint alleges that, from at least May 2019 until November 2022, Bankman-Fried raised billions of dollars from investors by falsely touting FTX as a safe crypto asset trading platform with sophisticated risk mitigation measures to protect customer assets and by telling investors that Alameda was just another customer with no special privileges; meanwhile, Bankman-Fried and Wang improperly diverted FTX customer assets to Alameda. The complaint alleges that Ellison and Wang knew or should have known that such statements were false and misleading.
The complaint also alleges that Ellison and Wang were active participants in the scheme to deceive FTX’s investors and engaged in conduct that was critical to its success. The complaint alleges that Wang created FTX’s software code that allowed Alameda to divert FTX customer funds, and Ellison used misappropriated FTX customer funds for Alameda’s trading activity. The complaint further alleges that, even as it became clear that Alameda and FTX could not make customers whole, Bankman-Fried, with the knowledge of Ellison and Wang, directed hundreds of millions of dollars more in FTX customer funds to Alameda.
“As part of their deception, we allege that Caroline Ellison and Sam Bankman-Fried schemed to manipulate the price of FTT, an exchange crypto security token that was integral to FTX, to prop up the value of their house of cards,” said SEC Chair Gary Gensler. “We further allege that Ms. Ellison and Mr. Wang played an active role in a scheme to misuse FTX customer assets to prop up Alameda and to post collateral for margin trading. When FTT and the rest of the house of cards collapsed, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang left investors holding the bag. Until crypto platforms comply with time-tested securities laws, risks to investors will persist. It remains a priority of the SEC to use all of our available tools to bring the industry into compliance.”
“As alleged, Mr. Bankman-Fried, Ms. Ellison, and Mr. Wang were active participants in a scheme to conceal material information from FTX investors, including through the efforts of Mr. Bankman-Fried and Ms. Ellison to artificially prop up the value of FTT, which served as collateral for undisclosed loans that Alameda took out from FTX pursuant to its undisclosed, and virtually unlimited, line of credit,” said Sanjay Wadhwa, Deputy Director of the SEC’s Division of Enforcement. “By surreptitiously siphoning FTX’s customer funds onto the books of Alameda, defendants hid the very real risks that FTX’s investors and customers faced.”
The SEC’s complaint charges Ellison and Wang with violating the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC’s complaint seeks injunctions against future securities law violations; an injunction that prohibits Ellison and Wang from participating in the issuance, purchase, offer, or sale of any securities, except for their own personal accounts; disgorgement of their ill-gotten gains; a civil penalty; and an officer and director bar. Ellison and Wang have consented to bifurcated settlements, which are subject to court approval, under which they will be permanently enjoined from violating the federal securities laws, the above-described conduct-based injunctions, and officer and director bars. Upon motion of the SEC, the court will determine whether and what amount of disgorgement of ill-gotten gains plus prejudgment interest and/or a civil penalty is appropriate, as well as the length of the officer and director bar and the conduct-based injunction imposed against Wang.
In a parallel action, the U.S. Attorney’s Office for the Southern District of New York today announced charges against Ellison and Wang.
Ellison and Wang are cooperating with the SEC’s ongoing investigation, which is being conducted by Devlin N. Su, Ivan Snyder, and David S. Brown of the Crypto Assets and Cyber Unit and Brian Huchro and Pasha Salimi. It is being supervised by Amy Flaherty Hartman, Michael Brennan, Jorge Tenreiro, and David Hirsch. The SEC’s litigation will be led by Amy Burkart and David D’Addio and supervised by Ladan Stewart and Olivia Choe. Additional assistance to the investigation was provided by Therese Scheuer, Alistaire Bambach, Ainsley Kerr, William Connolly, and Howard Kaplan.
The SEC appreciates the assistance of the U.S. Attorney’s Office for the Southern District of New York, the FBI, and the Commodity Futures Trading Commission.
Vera Wang Poses With Her Daughters in a Rare Family Photo for Thanksgiving
Vera Wang, known for her iconic wedding dresses, chic and contemporary style, and inexplicable ability to defy aging, gave fans a rare glimpse into her family life this Thanksgiving. The designer shared three photos on Instagram of herself standing alongside her “squad” — which included daughters, Cecilia, 32, and Josephine, 29 — cooking up what looks to be an absolutely delicious Thanksgiving feast.
“Girls just wanna have fun…. …to my squad. Cecilia for the beautiful table scapes Josephine for the cheddar cheese crusted apple pie and Sin for her much beloved TURKEY DINNER,” Wang, 72, captioned the set of photos. Even in a somewhat oversized black apron and matching chef’s hat, Wang manages to look as stylish as ever. Her daughters stand on each side of their mom, giving the camera a small smile.
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Wang also took a quick break from cooking Thanksgiving dinner to show off the bottom half of her outfit: a silky silver skirt with a slit up the middle, revealing thigh-high, floral-patterned boots with a stilettoed heel. Just another day in the kitchen, no big deal!
Of course, Wang also shared a glimpse of her family’s Thanksgiving table setting, which her daughter Cecilia put together. Clearly, she has inherited her mother’s classic but contemporary style. The plates are neutral-toned and delicately rimmed with gold, and they sat neatly on top of a simple black place setting. A crystal wine and water glass were set at each seat, and a short crystal vase housed a small bouquet of white roses in the center of the table.
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Wang’s daughters usually stay out of the spotlight. The designer and her ex-husband Arthur P. Becker adopted both Cecilia and Josephine during their 23-marriage, which came to an end in 2012. As far Wang’s approach to parenting, it is as effortlessly chic sounding as you’d expect. She told Harper’s Bazaar that she had a more “hippie” approach than her own mom, and that she wanted her girls to be able to grow up however they wanted to: “I don’t live through my kids. But I do know what will happen in life, and I just want them well prepared.”
Before you go, click here to see the all the celebrities who’ve adopted children!
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US concerned at China’s ‘alignment’ with Russia, Blinken tells Wang Yi
Both diplomats described their first in-person talks since October as “candid”, with the meeting taking place a day after they attended a gathering of G20 foreign ministers on the Indonesian island of Bali.
“I shared again with the state councilor that we are concerned about the PRC’s alignment with Russia,” Blinken told a news conference after the talks, referring to the People’s Republic of China.
He said he did not think China was behaving in a neutral way as it had supported Russia in the United Nations and “amplified Russian propaganda”.
After the meeting, a US official said “neither side held back”.
“We were very open about where our differences are … but the meeting was also constructive because despite the candor, the tone was very professional,” the official said.
Blinken said Chinese leader Xi Jinping had made it clear in a call with President Vladimir Putin on June 13 that he stood by a decision to form a partnership with Russia.
Shortly before Russia’s February 24 invasion of Ukraine, Beijing and Moscow announced a “no limits” partnership, although US officials say they have not seen China evade tough US-led sanctions on Russia or provide it with military equipment.
US officials have warned of consequences, including sanctions, should China offer material support for the war that Moscow calls a “special military operation” to degrade the Ukrainian military. Kyiv and its Western allies say the invasion is an unprovoked land grab.
Asked about his refusal to hold talks with Russian Foreign Minister Sergei Lavrov at the G20, Blinken said: “The problem is this: we see no signs whatsoever that Russia, at this moment in time, is prepared to engage in meaningful diplomacy.”
Wang exchanged in-depth views on “the Ukraine issue” during Saturday’s talks, according to a statement released by his ministry, without giving details.
He also told Blinken that the direction of US-China relations was in danger of being further led “astray” due to a problem with the United States’ perception of China.
“Many people believe that the United States is suffering from an increasingly serious bout of ‘Sinophobia’,” Wang was quoted as saying.
Question of tariffs
Wang also said Washington should cancel additional tariffs imposed on China as soon as possible and cease unilateral sanctions on Chinese companies.
US officials had said before the talks that the meeting was aimed at keeping the difficult US-China relationship stable and preventing it from veering inadvertently into conflict.
In late June, US national security adviser Jake Sullivan said US President Joe Biden and China’s Xi were expected to speak again in the next few weeks.
Daniel Russel, a top US diplomat for East Asia under former President Barack Obama who has close contact with Biden administration officials, said ahead of the talks a key aim for the meeting would be to explore the possibility of an in-person meeting between Biden and Xi, their first as leaders.
The US calls China its main strategic rival and is concerned it might one day attempt to take over the self-ruled democratic island of Taiwan.
Despite their rivalry, the world’s two largest economies remain major trading partners, and Biden has been considering scrapping tariffs on a range of Chinese goods to curb surging US inflation before November midterm elections.
China-Russia relations show ‘strong resilience,’ says Wang Yi
Chinese Foreign Minister Wang Yi met Russian Foreign Minister Sergei Lavrov on on the sidelines of a G-20 summit in Bali, Indonesia. This photo shows the two men in a 2021 meeting in Beijing, China.
Russian Foreign Ministry Press Service Handout | Anadolu Agency | Getty Images
China and Russia have demonstrated “strong resilience and strategic determination” in their relationship amid a volatile global landscape, Chinese Foreign Minister Wang Yi said, according to CNBC’s translation of the Chinese text.
Wang met Russian Foreign Minister Sergei Lavrov Thursday on the sidelines of the Group of 20 summit in Bali, Indonesia, according to a statement from the Chinese foreign ministry on Friday.
In relation to Russia-Ukraine, Beijing will continue to uphold an “objective and fair” stance, and support all efforts toward a peaceful resolution to the crisis, Wang said.
Beijing has so far refused to call Russia’s attack on Ukraine an invasion. After a high-profile meeting between Chinese President Xi Jinping and and Russian President Vladimir Putin in February, a readout said there were “no limits” or “forbidden areas” of cooperation, without mentioning Ukraine.
Meanwhile, Wang said China will also continue to pursue Xi’s vision for global security and will work with all parties to ensure that. He added that Beijing will continue to oppose unilateral pursuits by groups of countries seeking hegemony.
This is breaking news. Please check back for updates.
Pacific Islands security pact: China plays for influence on Wang Yi’s tour
The draft proposal sent by China to potential partners in the South Pacific calls for greater cooperation in security, policing and cybersecurity, and in economic development, among other areas.
The draft proposal, provided to CNN by a person with direct knowledge of the matter and first reported by Reuters, is expected to be discussed at the second China-Pacific Island Countries Foreign Ministers’ Meeting in Fiji next week — part of a 10-day regional diplomatic tour by Chinese Foreign Minister Wang Yi.
Wang’s tour began Thursday in the Solomon Islands and will bring the minister to Kiribati, Samoa, Fiji, Tonga, Vanuatu, Papua New Guinea and East Timor, according to China’s Foreign Ministry.
It’s not clear whether the proposed pact would gain wide support among Pacific Island nations with relations with Beijing. But, if accepted, it would mark a significant advance in Beijing’s connection to the region, which holds geo-strategic importance in the Indo-Pacific.
The Pacific Islands’ location, largely to the northeast of Australia, means the island nations have long been viewed by military strategists as a vital connecting thread between the US territory of Guam and US-allied Australia.
Both the US and Australia are wary of a China that has grown increasingly assertive in the South China Sea extending its reach further into Pacific waters, and potentially isolating that vital island chain network.
Meanwhile, the island nations themselves — typically more concerned about the ravages of climate change than geopolitics — have been wary of being viewed as pawns in a great power struggle.
Already at least one country to which the agreement was directed has raised concerns, and there has been broader backlash from other regional powers who are wary of China’s intentions.
In a letter to 22 other Pacific leaders seen by CNN, the President of the Federated States of Micronesia, David Panuelo, said the draft proposal was intended to shift Pacific nations with diplomatic ties to China “very close into Beijing’s orbit.”
Panuelo argued that in addition to impacting the sovereignty of Pacific nations, signing such an agreement could bring about a new “Cold War” amid tensions between China and the West.
News of the draft proposal and Wang’s tour may have struck a deeper chord of concern from other powers as it comes on the heels of the Solomon Islands and China inking a bilateral security deal last month — sparking fears of providing an opening for a Chinese military base on the island.
In remarks in Honiara on Thursday, Wang defended that Solomon Islands-China security deal as “open and transparent” and said there were no intentions to establish military bases.
“China supports Pacific Island Countries in strengthening security cooperation and working together to address regional security challenges … Pacific Island Countries are sovereign and independent states and are not anyone’s ‘backyard,'” he said.
Last month, Solomon Islands Prime Minister Manasseh Sogavare made assurances Honiara’s deal with Beijing would “complement” an existing security agreement with Australia and would “not adversely impact or undermine the peace and harmony of our region.” The Solomons is around 1,000 miles (1,600 kilometers) from Australia’s northeastern coast.
But concerns about China’s regional intentions were of apparent high concern for Australia this week, with new Prime Minister Anthony Albanese — who had been critical of his predecessor’s failure to avert China’s deal with the Solomon Islands — saying Thursday his country “cannot afford” to “drop the ball” in its response.
“This is China seeking to increase its influence in that region of the world where Australia has been the security partner of choice since the Second World War,” he said, adding that Canberra would need to offer more support.
In a mark of the Albanese government’s concern, Australian Foreign Minister Penny Wong traveled to Fiji on Thursday, where — in a speech that didn’t name China directly — she pitched Australia as “a partner that doesn’t come with strings attached, nor imposing unsustainable financial burdens.”
“We are a partner that won’t erode Pacific priorities or Pacific institutions. We believe in transparency. We believe in true partnerships,” Wong said.
The US, for its part, announced Thursday that Fiji will be joining its recently unveiled flagship economic plan for the region, known as the Indo-Pacific Economic Framework for Prosperity.
Beijing has not confirmed it is seeking a multilateral agreement in the region.
Wang’s visit was meant to “further strengthen high-level exchange, consolidate political mutual trust, expand practical cooperation, and deepen people-to-people bond so as to build an even closer community with a shared future for China and Pacific Island countries,” a Chinese Foreign Ministry spokesperson said Wednesday.
The spokesman also pushed back when asked about fears that a Pacific Islands security agreement could spark a Cold War — calling this “sensational remarks.”
In Washington on Wednesday, US State Department Spokesman Ned Price said the US was “aware that China seeks to negotiate a range of arrangements during the foreign minister’s visit to the region.”
“We are concerned that these reported agreements may be negotiated in a rushed, non-transparent process,” he said, pointing to what he described as a pattern of Beijing offering “shadowy, vague deals,” while adding the US respects countries’ ability to make their own sovereign decisions.
The proposed draft security deal and Wang’s tour come amid heightened concern from other regional powers over Beijing’s ambitions in the Indo-Pacific.
China claims almost all of the vast South China Sea as its sovereign territory. It has been building up and militarizing its facilities there, turning islands into military bases and airstrips, and allegedly creating a maritime militia that could number hundreds of vessels.
And in the East China Sea, China claims sovereignty over the Japanese-controlled Senkaku Islands, also known as the Diaoyu Islands. In recent years, the US has reiterated its promise to defend the islands in the event of foreign aggression.
In a joint statement Monday, US President Joe Biden and Japanese Prime Minister Fumio Kishida “voiced concern” over China’s security agreement with the Solomon Islands and its lack of “addressing regional voices of concern.”