The Daily Money: FTX founder Sam Bankman-Fried faces more legal challenges
Charisse JonesHello Daily Money readers. It's hump day, which next to Friday might be my favorite day of the work week because I know the weekend's not far off! It's Charisse Jones with your top headlines.
FTX founder Sam Bankman-Fried is facing a new set of charges.
The cryptocurrency entrepreneur is accused of conspiring to violate the anti-bribery provisions of the Foreign Corrupt Practices Act according to an indictment, unsealed by the Southern District Court of New York on Tuesday.
The charges stem from allegations that the 31-year-old businessman funneled $40 million in bribes to at least two Chinese officials to get them to unlock accounts connected to his cryptocurrency enterprise.
Bankman-Fried faces 13 federal criminal fraud charges for allegedly misappropriating billions of dollars of his customer' funds.
EV maker Lucid to lay off workers
Lucid, a manufacturer of electric cars, says it's laying off roughly 1,300 workers and contractors.
The cuts, which the company says are aimed at paring costs, will impact roughly 2 out of 10 Lucid workers according to a regulatory filing. The move comes in the wake of the company failing to meet revenue projections and production goals during the fourth quarter.
The layoffs, first reported by Insider, are the result of "evolving business needs and productivity improvement,'' CEO Peter Rawlinson said in a letter to staff. Those whose jobs are being cut will be told this week.
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🍔 Today's Menu 🍔
Oreo's got a new flavor: Blackout Cake. The limited-edition treat will feature double layers of creme - one tasting like chocolate cake and the other like dark chocolate - between the two cookies. The sweet hits stores April 3, and will be a limited edition so get it while you can.
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TL;DR version: how decisions by the Federal Reserve, government and companies impact you.
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