Ways to Contact Inner City Press / Fair Finance Watch, et al.

Welcome to Inner City Press’ Bank Beat. We aim to scrutinize the industry, from high to low. Our other Reporters cover Community Reinvestment, the Federal Reserve, and other beats. ICP has published a (double) book about the Bank Beat-relevant topic of predatory lending - click here for sample chapters, an interactive map, and ordering information. The Washington Post of March 15, 2004, calls Predatory Bender: America in the Aughts "the first novel about predatory lending;" the London Times of April 15, 2004, "A Novel Approach," said it "has a cast of colorful characters." See also, "City Lit: Roman a Klepto [Review of 'Predatory Bender']," by Matt Pacenza, City Limits, Sept.-Oct. 2004. The Pittsburgh City Paper says the 100-page afterword makes the "indispensable point that predatory lending is now being aggressively exported to the rest of the globe." Click here for that review; click here to Search This Site. Click here for Inner City Press' weekday news reports, from the United Nations and elsewhere, which include bank-related topics.

Click here for Inner City Press' weekday news reports, from the United Nations and elsewhere. Click here for a recent BBC piece on Inner City Press' reporting from the United Nations. New: Follow us on TWITTER BloggingHeads.tv Click for March 1, 2011 BloggingHeads.tv re Libya, Sri Lanka, UN Corruption by Inner City Press. Until next time, for or with more information, contact us.

June 16, 2025

Charged With Diverting $10M to Crypto Exchanges Overseas Now Lin Gets Time Served

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, June 12 – For a scheme to rob $10 million from banks and move it to foreign cryptocurrency exchanges, Fei Jiang and two others were indicted and presented on November 16, 2023.

Fei Jiang was ordered free on $50,000 bond in the U.S. District Court for the Southern District of New York Magistrates Court. Inner City Press was there, the only media in the SDNY Mag Court.

Magistrate Judge Robert W. Lehrburger said that if Pre-Trial Services does not find Jiang's resident appropriate, his release may be revisited.

The AUSA added that his GPS should include an exclusion for area airports including Atlantic City and Teterboro. The other defendants are Naifeng Xu (presented in Oklahoma) and Zhong Shi Gao, freed on bond in SDNY.

On November 20, Naifeng Xu was in the SDNY Mag court, and so again was Inner City Press. He too was released on bond.

Jump cut to January 15, 2025, when the trial date was pushed back to September 8: "Defendants Fei Jiang, Tommy Lin and Henry Yau arraigned on Superseding Indictment S8 23 CR 572 (CM) defendants plead NOT guilty. Court sets motion schedule for defendant Henry Yau: Defendant's motions are to be filed by March 14, 2025; Government's response due April 4, 2025; and defendant's reply by April 17, 2025 The trial of this case, previously scheduled for May 12, 2025, is adjourned to September 8, 2025, at 9:30 a.m. The case is adjourned to May 1, 2025, at 2:00 p.m., for a status conference."

On March 14 co-defendant Lin pled guilty before Magistrate Judge Sarah Netburn, with sentencing control date set at June 12.

On June 12, Lin got time served: "Sentencing held on 6/12/2025 for Tommy Lin. The defendant is hereby sentenced to Time Served. Defendant shall pay restitution in the amount of $20,000.00, to the victim named in Schedule A, of the Restitution Order."

The case is USA v. Gao, at el., 1:23-cr-572 (McMahon)

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June 9. 2025

For Tornado Cash Roman Storm Trial He Wants to Asks Jurors About Cryptos and NoKo DeFi

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, June 6 – Roman Storm is charged using his cryptocurrency mixed Tornado Cash to help launder money for North Korea's hackers in the Lazarus Group.

On September 6, 2023 he was arraigned before U.S. District Court for the Southern District of New York Judge Katherine Polk Failla. Inner City Press was there - thread:

Cash helped North Korea's hackers Lazarus Group...There will be discovery from GitHub

On December 5, Judge Failla docketed the trial schedule: "SCHEDULING ORDER as to Roman Storm, Roman Semenov. It is hereby ORDERED that the following trial schedule will be in effect: Trial will be set to begin on September 23, 2024, at 9:00 a.m." Full scheduling order on Patreon here

On March 29, 2024, Storm through counsel submitted motions to suppress and to compel discovery, including into MLATs with The Netherlands, and FinCEN and OFAC communications. Memo/motion on Patreon here

On July 5, a court holiday, Storm's lawyer filed an opposed request for a delay into 2025 of the trial: "We write on behalf of our client Roman Storm to respectfully request that the Court grant a continuance of the trial date from September 23, 2024 to late January or February 2025." Letter on Patreon here.

The US on July 9 filed opposition - just as in the Samouri Wallet case a letter from Senator Lummis and Wyden that cites theTornado Cash case, letter now on Patreon, with Samouri story, here.

On July 12, Judge Failla did delay the trial, but not as far as Storm requested: "trial in this matter is scheduled to begin on 12/2/2024 at 9:00 a.m."

On September 26, Judge Failla denied Storm's motions, from the thread:

SDNY Judge Failla is about to start reading out (long) decision on motions to compel and dismiss. Spoiler alert: she is denying both. Judge: The pre-trial discovery is government by Rule 16...

Brady did not create a Constitutional right to discovery. Mr. Storm's request are too speculative, saying "may," "may" and "may." He does not connect the dots.

Judge Failla continues: I reject the void for vagueness argument... Courts should be cautious when assessing vagueness arguments. Consider US v. Howtar (sp)

Judge Failla: Mr. Storm was arguing that that statutory definition of financial transaction is vague. I reject that. The court finds that the statute gave Mr. Storm adequate notice. He marketed Tornado Cash as a way to conceal, he had notice is was illegal

Judge Failla: So, the motions are denied. I think that is all I need to do today. We have a trial date

On October 10, a hearing Inner City Press covered, from the thread:

oral argument on prosecutors' motion to compel pre-trial disclosuresJudge Katherine Failla: When will the government be producing 3500 material? Assistant US Attorney Nathan Rehn: We have been trying to reach a global agreement on pre-trial disclosures. Judge: Is there a world in which you would not disclose until after testimony?

AUSA: We would hope not- Judge: Mr. Rehn, we're here because you haven't worked that out. It is possible I could propose a schedule for 3500 production? AUSA: There is precedent that the government cannot be ordered to go faster than the statute Judge: I know that

Roman Storm's lawyer: If they delay on the 3500 material, we'll want more time to make advice of counsel disclosure. Judge: I am uncoupling those two issues. Before ruling, I spoke with other SDNY Judges including, about the Eisenberg trial, with Judge Subramanian

Judge: I have considered Judge Kaplan's ruling on Bankman-Fried... Last minute tricks, at least they didn't for Bankman-Fried. We'll do Daubert hearings in November in the same week as the final pre-trial conference. We are adjourned.

On November 1, Inner City Press covered the proceeding and first reported the new trial date: April 14, 2024, here. Then: "proceedings held before Judge Katherine Polk Failla: Telephone Conference as to Roman Storm held on 11/1/2024. Defendant Roman Storm present... Trial in this matter is adjourned to 4/14/2025

On December 9 there was a status conference; Inner City Press went and live tweeted, thread:

All rise! Judge Failla: How do you plead? Roman Storm: Not guilty. Storm's lawyer: We're requesting reconsideration. AUSA: 2d circuit, mandamos was denied. Judge Failla: I didn't know. Last week I was in California at Judicial Conference, hearing budgets are bad

Defense: We want 20 pages, then ten on reply. Judge Failla: Our local rules are moving toward word count, not pages. Defense: We are considering taking the mandamos to the Supreme Court. Judge Failla: Note this, "Judge laughs." Defense: We know it's a long shot

Judge Failla: I've been vindicated twice at the Supreme Court, I hope my batting average stays high.

On December 18 Storm's lawyers filed a request for reconsideration of the denial of their motion to dismiss, arguing among other things that the Fifth Circuit's decision in Van Loon v. Dept of Treasury, No. 23-50669 (5th Cir. 2024) (Slip op.), in which a group of Tornado Cash users won a ruling that the immutable smart contracts at issue could not be considered "property" under IEEPA.

On May 15, 2025, with some wondering if the criminal case or parts of it might be dropped in light of the Blanche memo and other determinations, Storm's lawyer wrote it seeking an order permitting Storm to apply for a Real ID, saying that probation says an order is required. So does "travel document" include a drivers license?

On May 16 Judge Failla ruled: "Order allowing Mr. Storm to obtain a Real ID. ENDORSEMENT: Mr. Storm may obtain a Real ID and does not need his passport to do so."

On May 30 Judge Failla held a conference on Storm's legal teams's arguments about Brady and the Samourai / Rodriguez case (which Inner City Press is also covering). At the end, "The deadlines to file requests to charge, voir dire, motions in limine, and Daubert motions is adjourned to 6/6/2025; oppositions to motions in limine and Daubert motions is adjourned to 6/16/2025."

On June 6 Storm submitted his proposed voir dire questions about Bitcoin and Ethereum, DeFi and North Korea.

The case is US v. Storm, et al., 23-cr-430 (Failla)

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May 26, 2025

On India Inner City Press Asked IMF About Subramanian Out and Safeguards Pakistan Funds Not for Military

By Matthew Russell Lee, Patreon Video Podcast

SDNY COURTHOUSE, May 22 – When the International Monetary Fund held its biweekly embargoed press briefing on May 22, Inner City Press asked about India, and Pakistan: "In India, there is some controversy about why the Modi government abruptly terminated K.V. Subramanian’s tenure as India’s executive director at the International Monetary Fund - does the IMF have any comment or insight?

"Given the IMF's recent moves on Pakistan, over India's objection / abstention, can you state what safeguards the IMF has in place to ensure that program funds do not indirectly support military or militant activities? [There are posts like “IMF gave them money for this propaganda”, “They are spending multi millions to promote themselves!”, “IMF ka pese use ho rahe hai”]

Julie Kozack took the questions, saying the executive director is up to India and that there are safeguards, including the the funds stay with the Central Bank. Transcript on IMF's website.

Inner City Press previously asked: "On Myanmar, since my question and the answers in previous IMF briefings, have the authorities in Myanmar provided anymore disclosure of where the IMF's million have gone? What steps are being taken by the IMF on this?"

To this, the IMF Spokesperson said that while the IMF has not recognized the new government - that step would require one half of the IMF's members' votes - the IMF wants the world to know that the government in control in Myanmar is, in fact, reporting data.

Inner City Press followed up, asking if this answers seeming "positive" on the new government meant that it was complying with the reporting commitment of the previous, overthrown government. Rice chaffed at his answer being called positive, saying the IMF just tries to report facts.

Previously Inner City Press asked the IMF about crypto-currency legislation in Ukraine and again El Salvador, about the coup in Guinea and the role of the Venezuela talks in Mexico on release of the SDRs. YouTube of IMF video here. Full transcript here.

May 19, 2025

Capital One Is Sued for 360 Account by NY AG James and for Predatory Lending in East Harlem

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, April 22 – Capital One Bank, seeking to move forward on its much protested but now Fed approved Discover mega-merger, has been sued by NYS Attorney General Letitia James. While some, seeing the caption, thought it might be the attempt to block the merger that Senator Elizabeth Warren is asking DOJ to move for, that was not the case.

Rather, James is suing Capital One for misrepresentation in its 360 Performance Savings account. If the CFPB won't do it, let the state(s). But what about the merger? And Captial One's predatory lending?

For example, Capital One refused a payment plan and moved to foreclose on woman's property in East Harlem in upper Manhattan, NYC.

She sued in state court - and Capital One moved to transfer the case to Federal court in the U.S. District Court for the Southern District of New York, where Inner City Press found it in the docket.

The plaintiff recounts how she was tricked, akin to predatory lending. She is seeking punitive damages and an injunction preventing further foreclosure actions.

On February 17 Capital One's counsel wrote in asking to extend its time to answer or otherwise respond - then it moved to dismiss.

On April 22 - after a rubber stamp of Capital One's Discover takeover - the plaintiff opposed the motion, asserting breach of contract and wrongful foreclosure.

That case is Sanders v. Capital One, N.A., 1:25-cv-1252 (Broderick)

This newer case is The People of the State of New York, by Letitia James, Attorney General of the State of New York, v. Capital One, et al., 1:25-cv-4037 (unassigned)

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May 12, 2025

Mashinsky of Celsius Sentenced to 12 Years After Pled Guilty to 30 Year Guideline

by Matthew Russell Lee, Patreon

SDNY COURTHOUSE, May 8 – After Alexander Mashinsky of Celsius was arrested on July 13, US Attorney Damian Williams held a press conference, and Inner City Press asked him to explain his thinking in agreeing to release on bail for Sam Bankman-Fried but demanding and obtaining pre-trial detention of Avi Eisenberg.

US Attorney Williams responded that every case is different. Inner City Press asked if his office would be seeking the detention of, or agreeing to release, Mashinsky. He declined to say either way, saying you will soon see.

Jump cut to December 3, 2024 when Inner City Press went to cover US v. Mashinsky - Judge John G. Koeltl asked, do you wish to plead guilty to Counts 2 and 5? He said yes. Thread here.

The plea was accepted and sentencing set for April 8, 2025 - with plea agreement, surprisingly, has a guideline of 360 months, plea agreement (and analysis) on Patreon here

Back on November 7, oral arguments (Inner City Press live tweeted here). Later Inner City Press saw him, along carrying two legal briefs, going into Pre-Trial Services on the 5th floor.

On February 5, 2025 Mashinsky's lawyers wrote in asking to push his sentencing back a month from April 8 to May 8, saying the US Attorney's Office does not for now consent - letter on Patreon here

On May 8, Inner City Press live tweeted the lengthy sentencing proceeding, here. Mashinsky got 12 years, with Otisville recommended.

More detail on X for Subscribers here and Substack here

The case is US v. Mashinsky, et al., 23-cr-347 (Koeltl)

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April 28, 2025

Binance Sought to Dismiss October 7 Victims Lawsuit But Now Reconsideration Denied

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, April 22 – After the October 7, 2023 attacks by Hamas from Gaza, and CZ's and Binance's guilty pleas, the latter two along with Iran and Syria were sued. Argument on Binance's motion to dismiss was heard on January 30 by U.S. District Court for the Southern District of New York Judge John G. Koeltl. Inner City Press was there, thread:

OK- now at case against crypto firm Binance, CZ, Syria and Iran by victims of Oct 7 attack.

Binance lawyer [from Cahill Gordon] We are accused of non-feasance, failures to prevent money laundering and to file SARS. Such cases are routinely dismissed-

Judge Koeltl: I will rule at a later date

On February 25, Judge Koeltl denied the motion to dismiss. And on motions for reconsideration and/or to certify for interlocutory appeal, Inner City Press attended the April 22 argument and ruling. Judge Koeltl denied both motions - this while the Administration has asked for a week to reconsider its predecessor's support for UN immunity for its October 7 role. Watch this site.

More on X for Subscribers here and on Substack here

The case is Raanan, et al. v. Binance Holdings Limited, et al., 1:24-cv-697 (Koeltl)

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April 21, 2025

After Taking $25M from Ethereum Blockchain Peraire Bueno Duo Say Crypto Not Under NSPA

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, April 14 – James Peraire-Bueno was indicted for "conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. The charges in the Indictment arise from an alleged novel scheme by the defendants to exploit the very integrity of the Ethereum blockchain to fraudulently obtain approximately $25 million worth of cryptocurrency within approximately 12 seconds."

On May 15 James Peraire-Bueno was brought in detention before U.S. District Court for the Southern District of New York Magistrate Judge Valerie Figueredo. Inner City Press was there, the only media in the SDNY Mag Court, thread

On May 23, Inner City Press was again the only media present for the arraignment of Anton, and status conference on both, before Magistrate Judge Jennifer E. Willis (to whom Judge Clarke referred the proceeding, and a script). Thread

On June 21 Judge Clarke permitted the two defendants to trade and liquidate four accounts at Chase and Fidelity to pay counsel and for living expenses.

On August 19 an October 2025 trial date was set.

On December 6, the Peraire-Buenos filed a slew of motions - to dismiss, to suppress, to compel, for a bill of particulars - including some redacted, they say, at the US Attorney's Office's demand, including about Victim-1.

On April 7 Inner City Press attended the hearing on the pending motions. The duo's lawyers sought information victims (asking if they were bots) and a Franks hearing to question Agent Diaz.

Thread here; more on X for Subscribers here and Substack here.

On April 14 the defendant filed seeking to dismiss, saying of Count 4 that crypto is not "property" under the National Stolen Property Act and that the prosecution is so novel it violates due process.

Inner City Press is covering this case.

The case is USA v. Peraire-Bueno, et al., 1:24-cr-293 (Clarke)

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April 14, 2025

For Do Kwon Trial Now Set for Feb 17 2026 DOJ Memo Cited so Do Kwon May File Motion

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, April 10 – After the collapse of the crypto firm Terraform Labs, Inner City Press covered the SEC's trial against it and Do Kwon - except that Kwon was in Montenegro. Now, Do Kwon book here

Early on January 2, 2025 Inner City Press learned and vlogged that Kwon would be presented later in the day before U.S. District Court for the Southern District of New York Magistrate Judge Robert W. Lehrburger.

The superseding indictment, Inner City Press immediately put it online here

Just after noon Do Kwon was presented and pled not guilty, was detained, thread

The case was reassigned to Judge Paul A. Engelmayer to whom the US Attorney's Office on January 6 directed a victims' notice motion, on Patreon here

On January 8 Judge Engelmayer held a conference and set a January 26, 2026 trial date, among many other things. Inner City Press pressed and live tweeted, thread

On February 27-28, the US Attorney's Office put in a four page letter describing discovery (including documents from a country left unnamed), and proposed adjourning the upcoming status conference. Filing on Patreon here

On April 10 Inner City Press live tweeted the status conference at which trial was pushed back to February 17, next conference to June 12, and this:

Judge Engelmayer: Let's turn to the Deputy Attorney General's memo and if it has any implication for the case. The memo as reported says something about prosecutions where an issue is whether a digital asset is a security. AUSA: We are aware of the memo

AUSA Lenow: For now we do not have an intention to change the charges. Judge Engelmayer: To the degree there is an internal process, do what you can to move it along so that it comes to rest. It is an Executive Branch internal issue.

Do Kwon's lawyer David Patton: We may file a motion.

More / extra on X for Subscribers here, Patreon (with earlier US case status summary) here

Amid talk of the Administration's crypto executive order and now DOJ memo - and before the SEC moved to drop its case against Coinbase - Inner City Press published a book: "Crypto Death Spiral: Could a Luna Rise Again?" by Matthew Russell Lee, ebook here, audiobook here.

Watch this site

The case is USA v. Kwon, 1:23-cr-151 (Engelmayer)

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April 7, 2025

Rocket Eyes Mr Cooper As Predatory Capital One Discover Merger Pends Amid FOIA Appeal

by Matthew R. Lee

SOUTH BRONX, April 2 – After Capital One applied to buy Discover, in an anticompetitive deal that should be rejected by regulators, now Rocket announces a plan to buy Mr. Cooper, after Redfin. Expect more - including questions.

On March 3, days after the CFPB dropped its lawsuit against Capital One, the OCC suddenly declared Capital One "Outstanding" under the Community Reinvestment Act. Who's in the OCC's wallet, now?

Back on July 26, after a FOIA appeal - and after closing the public comment period - the OCC belatedly gave Inner City Press documents showing Capital One briefed the OCC on a "big" deal in November 2023; it was code named "Project Sirius." That and more now on Inner City Press' DocumentCloud here

Now Inner City Press' FOIA to the Fed resulted in 1000 plus pages, but redactions. It appealed, and on March 11 was granted expedited processing. But will they rule on FOIA before they rule on the merger? Watch this site.

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March 31, 2025

Rap Sheet of Banks Fined in 2024 TD Citigroup Capital One as Fed Snubs BIS Antitrust Study

by Matthew R. Lee

SOUTH BRONX, March 28 – Before Capital One announced and applied to buy Discover, they and their law firm were allowed to meet secretly with the Federal Reserve.

After they applied late March 20, Inner City Press submitted a Freedom of Information Act request to the Fed. While they granted expedited treatment, they delayed nearly a near before on March 4 dumping over 1000 redacted pages.

These begin with ex parte meetings between the bank, its law firm and the Fed - telephone calls in February 2024, and a meeting inside the Fed on March 7, 2024 (the Fed waited until March 4, 2025 to disclose this). 1000 page on Inner City Press' DocumentCloud here. 200+ more pages here. FOIA determination letter here

Inner City Press has filed a FOIA appeal to the Federal Reserve - and raised it in a March 21 comments, along with a new Bank for International Settlements study that cries out for denial of the merger.

On March 24, the Fed's response: "Because your letter was received after the end of the public comment period, it will not be made a part of the record of this case unless the Board in its sole discretion determines to consider your late comments." Yeah, discretion...

Then as the Fed revoked its CRA rule, this list of banks fined in 2024:

1 US US TD Bank (Toronto-Dominion Bank) $3.09B 2024-10-10

2 US US Citigroup $135.60M 2024-07-10

3 US US Navy Federal Credit Union $95.00M 2024-11-07

4 US US USAA Federal Savings Bank $85.00M 2024-12-19

5 Sweden Sweden Klarna Bank AB $46.00M Source View Details 2024-12-11

6 US US City National Bank $65.00M 2024-02-01

7 US US Fifth Third Bank $20.00M 2024-07-09

8 Finland Finland Nordea Bank $35.00M 2024-08-27

9 UK UK Starling Bank $37.44M 2024-10-02

10 US US Green Dot Corporation $44.00M 2024-07-19

Dishonorable mentio: 11 US US Silvergate Bank $43.00M Source View Details 2024-07-01 12 US US JPMorgan Chase & Co $348.20M Source View Details 2024-03-14 13 Belgium Belgium BNP Paribas Fortis $11.27M Source View Details 2024-12-20 14 France France Confédération Nationale du Crédit Mutuel $3.84M Source View Details 2024-03-21 15 UK UK Banque et Caisse d’Epargne de l’Etat $1.83M Source View Details 2024-11-15 16 China China Industrial and Commercial Bank of China Ltd. (ICBC) $30.00M Source View Details 2024-01-19 17 US US Goldman Sachs $64.80M Source View Details 2024-10-23 18 UK UK Citigroup Global Markets Limited $35.85M Source View Details 2024-05-22 19 UK UK Metro Bank $21.53M Source View Details 2024-11-12 20 UK UK HSBC UK Bank plc $8.11M Source View Details 2024-05-23 21 Australia Australia Westpac $6.18M Source View Details 2024-01-31 22 UK UK Barclays Bank $12.91M Source View Details 2024-11-25 23 UK UK Barclays Bank $38.73M Source View Details 2024-11-25 24 UK UK Macquarie Bank Limited $16.82M Source View Details 2024-11-18 25 UK UK TSB Bank plc $14.07M Source View Details 2024-10-10 26 Australia Australia Macquarie Bank Limited $3.15M Source View Details 2024-09-25 27 Japan Japan MUFG Bank $1.75M Source View Details 2024-09-20 28 Austria Austria Raiffeisen Bank International (RBI) $2.24M Source View Details 2024-06-28 29 Australia Australia Commonwealth Bank of Australia (CBA) $4.73M Source View Details 2024-10-17 30 Canada Canada TD Bank (Toronto-Dominion Bank) $6.40M Source View Details 2024-05-02 31 Germany Germany N26 Bank AG $9.97M Source View Details 2024-05-21 32 US US State Street Bank $7.45M Source View Details 2024-07-26 33 South Africa South Africa Capitec Bank Limited $3.04M Source View Details 2024-12-20 34 US US Flagstar Bank $3.55M Source View Details 2024-12-16 35 US US Canadian Imperial Bank of Commerce $30.00M Source View Details 2024-09-24 36 US US U.S. Bank $6.00M Source View Details 2024-03-19 37 US US Barclays Bank PLC $4.00M Source View Details 2024-10-01 38 US US Canadian Imperial Bank of Commerce $1.25M Source View Details 2024-09-24

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March 24, 2025

In Charlie Javice Trial She Subpoenaed a Witness & Wants Judge to Compel Appearance

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, March 20 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond.

On January 24, 2025 Inner City Press published the first book on the case, Fintech Fraudster? here

February 20 openings, thread here.

On February 21 as Houston Cowan took the stand, then paused due to audio problems, Javice filed that "evidence and argument regarding Bank-1 should be excluded." Letter on Patreon here.

On March 3 the US put on a Google record custodian (thread here), then a former Frank staffer Jen Wong who said she was pissed Chase fired her.

On March 5 Jen Wong finished, then a man from ASL (thread)

On March 6 there was Sarah Youngwood, now of NASDAQ, about minutiae (thread) then the orange jumpsuit quote and judge's timing questions.

On March 10 US witness Patrick Vovor was cross examined (thread) including about his body talk and coming onto Charlie.

On March 11 US witness Adam Kapelner described Javice doubling his rate (thread), the NDA for synthetic in the continued thread on X for Subscribers here and Substack here

On March 12, Kapelner was cross examined by Sullivan, thread, then a Capital One witness began direct.

On March 13 the Capital One witness on cross could not remember of Olivier Amar (or Matt Glazer) were on the video calls, or is his camera was on - thread

eextended on Substack here.

On March 17 the trial continued, including with witness quoting Charlie Javice that Frank's customer acquisition cost was below $5, thread

On March 18, the US put on JPMC witnesss Keono Drakeford in from Columbus, Ohio - and it set to rest it case on March 19, when the defense will be asked if it will put on a case. Thread

On March 19, Javice's lawyers files a letter including that Amar’s desire to admit this exhibit exemplifies his antagonistic defense."Letter on Patreon here

On March 20 the defense case proceeded, until one of Javice's lawyers asked Judge Hellerstein to admonish a witness under subpoena that he must remain and testify.

More on X for Subscribers here and Substack here

This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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March 17, 2025

In Charlie Javice Trial US Witness from Capital One No Memory of Olivier Amar on Video Call

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, March 13 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond.

On January 24, 2025 Inner City Press published the first book on the case, Fintech Fraudster? here

February 20 openings, thread here.

On February 21 as Houston Cowan took the stand, then paused due to audio problems, Javice filed that "evidence and argument regarding Bank-1 should be excluded." Letter on Patreon here.

On March 3 the US put on a Google record custodian (thread here), then a former Frank staffer Jen Wong who said she was pissed Chase fired her.

On March 5 Jen Wong finished, then a man from ASL (thread)

On March 6 there was Sarah Youngwood, now of NASDAQ, about minutiae (thread) then the orange jumpsuit quote and judge's timing questions.

On March 10 US witness Patrick Vovor was cross examined (thread) including about his body talk and coming onto Charlie.

On March 11 US witness Adam Kapelner described Javice doubling his rate (thread), the NDA for synthetic in the continued thread on X for Subscribers here and Substack here

On March 12, Kapelner was cross examined by Sullivan, thread, then a Capital One witness began direct.

On March 13 the Capital One witness on cross could not remember of Olivier Amar (or Matt Glazer) were on the video calls, or is his camera was on - thread

eextended on Substack here.

This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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March 10, 2025

Inner City Press asks IMF of Crypto El Salvador And US Proposed Reserve of Bitcoin and Others

by Matthew Russell Lee, Patreon Book Substack

NYC, March 6 – When the IMF held its press briefing on March 6, Inner City Press was able to ask the spokesperson two questions about cryptocurrency, on El Salvador, including its recent purchase of Bitcoin, and on proposals in the US:

Inner City Press: on El Salvador... [and] contrast to the U.S. I mean, President Trump has announced a digital assets reserve, including Ethereum and other coins, as well as Bitcoin. And I wondered if the IMF could comment on the U.S. program or how would you distinguish the two countries and why the IMF might be taking a different approach?

CRYPTO Q&A: Inner City Press today asked the International Monetary Fund about Crypto El Salvador And US Proposed Reserve of Bitcoin, Ethereum and Others - story: https://t.co/wezNTWHl8p pic.twitter.com/NfFxG8roGK
— Inner City Press (@innercitypress) March 7, 2025

MS. KOZACK: All right, let me go ahead and take the El Salvador question in Ethiopia and then we will go back. I see many hands up online. So, on El Salvador, as you know, last week our Executive Board approved a 40-month Extended Fund Facility, EFF, for U.S. $1.4 billion and with an immediate disbursement of $113 million. The program is expected to catalyze financial and technical support from other IFIs. And this will lead to a combined total over the program period of about U.S. $3.5 billion of support for El Salvador. The goals of the program are to restore fiscal sustainability, rebuild external and financial buffers, strengthen governance and transparency, and ultimately create the conditions for stronger and more resilient growth.

Regarding Bitcoin, in particular, the program aims to address the risks associated with the Bitcoin project to protect consumers and investors, as well as to limit potential fiscal costs. So, to start, there were recent legal reforms that have made the acceptance of Bitcoin voluntary, and taxes can be paid only in U.S. dollars. Under the program, the government has committed to not accumulate for their Bitcoins at the level of the overall public sector.

Regarding the recent increase in Bitcoin holding by the Strategic Bitcoin Reserve Fund, the authorities have confirmed that these are consistent with the agreed program conditionality, and we do remain engaged with the authorities on this important issue. And then, to your question. We are obviously closely monitoring President Trump's announcement in this area. The Presidential Working Group on Digital Asset Markets has not yet completed its work. So, we do not yet have details on the implementation of this proposal, but we will come back in due course

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March 3, 2025

In Charlie Javice Trial JPM Exec Thought BofA Was Bidding Admits User Number Not in Reps

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Feb 27 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond.

On January 24, 2025 Inner City Press published the first book on the case, Fintech Fraudster? here

In the February 20 openings, both defendants' lawyers hammered JPM Chase, with Javice's Baez naming Jamie Dimon. Thread here.

On February 21 as Houston Cowan took the stand, then paused due to audio problems, Javice filed that "evidence and argument regarding Bank-1 should be excluded." Letter on Patreon here.

On February 26, the second then third witness, with not four but ten million floated, and running commentary from defense table called out.

On February 27 the third witness Leslie Wims Morris of JPMC admitted they thought BofA was bidding and she's now with Chase Auto

Continued thread and more on X for Subscriber here and Substack here

This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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February 24, 2025

Charlie Javice Trial Opening Hammers JPMC Naming Jamie Dimon US Objections Sustained

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Feb 20 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond.

On January 24, 2025 Inner City Press published the first book on the case, Fintech Fraudster? here

Inner City Press live tweeted the more than two hour hearing on January 23, here. Trial was delayed one week to February 18.

On February 4 the defendants reduced their request to eight staffers. Full thread here

In the February 18 openings, both defendants' lawyers hammered JPM Chase, with Javice's Baez naming Jamie Dimon and his hunger for acquisitions. The US Attorney's Office objected; Judge Hellerstein said the case is not about JPM Chase. We'll see. Full thread here.

Continued thread on X for Subscriber here and Substack here

This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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February 17, 2025

In Florida Disparate United Community Banks Wants ANB But Ignores Lending Disparities

by Matthew R. Lee, Patreon Substack

FEDERAL COURT, Feb 11 – In Florida, United Community Bank is trying to move into the Miami area via merger, with a disparate lending record. Fair Finance Watch with Inner City Press on the FOIA has filed a timely first comment on, the Application by UCB to acquire American National Bank.

But consider United Community Bank's disparate lending record:

In South Carolina in 2023, United Community Banks made 673 mortgage loans to whites with 282 denials. Meanwhile to African Americans in the state it made only FIFTY ONE loans, while denying fully 45 applications.

In Florida in 2023, United Community Banks made 240 mortgage loans to whites with 86 denials. Meanwhile to African Americans in the state it made only TWELVE loans, while denying five applications.

Nationwide, United Community Banks is scarcely better. In 2023 overall it made 5576 mortgage loans to whites with 4114 denials. Meanwhile to African Americans nationwide it made only 477 loans, while denying fully 1246 applications. That is to say, while UCB to whites had more loans then denial, to African Americans it had nearly three times as many denials as of loans.

To this, on February 11 UCB through outside counsel replied that while Fair Finance Watch "cites data for the Bank’s lending in South Carolina, Florida and 'nationwide,' the comment’s assertion that “nationwide” data is relevant is misplaced. The Bank has a Southeastern—not nationwide—mortgage lending footprint consisting of locations in Alabama, Florida, North Carolina, South Carolina, Georgia and Tennessee." Then, "the Bank’s self-assessments have not revealed any evidence of discriminatory practices." What a surprise. They ignore their disparities.

Watch this site.

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February 10, 2025

In Charlie Javice Feb 18 Trial For Fooling JPMC Jury Not Required to Distinguish Capital One

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Feb 4– JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond.

On January 24, 2025 Inner City Press published the first book on the case, Fintech Fraudster? here

Inner City Press live tweeted the more than two hour hearing on January 23, here. Trial was delayed one week to February 18; the motion to sever was denied. The basis for the delay was late production of Amar's Google Drive, which Judge Alvin Hellerstein criticized.

On January 27 Javice argued for inclusion of her two expert witnesses, Ms. Carla Holtze Ceel on digital analytics, and Dr. Konstantinos Psounis on "the role of synthetic data."

On January 28 Javice and Amar filed a motion to compel JPM Chase to disclose the names of 145 employee they claimed did not use messaging applications for work.

On January 31, Chase's lawyers at Davis Polk opposed giving any names, arguing that the request for names was "for the sole purpose of impeaching prospective Government witnesses."

On February 4 the defendants reduced their request to eight staffers. Full thread here, including

Judge Hellerstein: Who was the second bank?

Amar's lawyer: Capital One. But shouldn't the jury have to decide whether Capital One or JPM Chase was the one they say was defrauded?

Judge: Motion denied. Figure out who'll speak

Continued thread on X for Subscriber here and Substack here

This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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February 3, 2025

After Flagstar NYCB Rubber Stamped Despite CRA Now Bank to Close 60 Branches

By Matthew Russell Lee, Patreon

SOUTH BRONX / SDNY, Jan 31 Back in April 2021, Fair Finance Watch and Inner City Press predicted that the proposed merger of New York Community Bank and Flagstar would flounder, on disparate lending and regulatory evasions.

Fair Finance Watch found that in 2019 Flagstar made 60,982 mortgage loans to whites, with 13,963 denial to whites - while making only 3799 loans to African Americans with fully 1777 denials to African American. This was significantly worse than other lenders.

New York Community Bank's record as an enabler of and profiteer off slumlords led Inner City Press file a Community Reinvestment Act challenge to its then-proposed merger with Astoria Bank, which fell apart.

A year a half later, the proposed merger was still not done and the extended deadline was approaching, amid talk of, as we predicted, fair lending action.

Then at 8 am on November 7, the banks bragged they had Fed approval. But a visit to the Fed's website at 8:40 am did not find any press release of approval. The Fed is getting more and more lax. We'll have more on this.

Inner City Press has gone back to find Flagstar's comments on the proposed and still pending Community Reinvestment Act regulations - tellingly, full of resistance: "Because Flagstar supports the goals of the CRA, the Bank submits this comment letter to highlight concerns about the Agencies' proposed reforms to the CRA framework. This Proposal would undermine the objectives of the CRA and run contrary to the Agencies' stated effmts to ensure that the law continues to be an effective force for strengthening banks and the communities they serve, which j: intludes (i) low- and moderate-income ("LMI") individuals, families, and neighborhoods; (ii) small businesses and farms; and (iii) communities in need of financial services and economic development. Flagstar is particularly concerned about the proposed retail lending assessment area requirements, which would impose significant regulatory, operational, and staffing burdens on banks (especially when coupled with the proposed data collection requirements); force banks to spread limited CRA resources thin and undermine the effectiveness of their CRA programs; and place banks at a competitive disadvantage to nonbanks and other lenders not subject to the CRA. In our view, these challenges will discourage banks from engaging in retail lending and other CRA activities that could otherwise benefit local communities, contrary to the spirit of the law. Moreover, as applied to Flagstar, the proposed retail lending assessment requirements would be so overly burdensome and unworkable that they would likely cause us to question and rethink our business model. 1. There is insufficient data to justify abandoning longstanding interpretations of the CRA to require the delineation of lending-based assessment areas; Requiring the delineation of a lending-based assessment area would go beyond the text and purpose of the CRA." Yeah.

In late January 2025, Flagstar CFO Lee Smith said Flagstar is closing about 60 retail branches, most of which it leases; about 20 private-client retail locations; and a couple of operating centers that are owned by the bank.

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January 27, 2025

Book on Charlie Javice Trial For Tricking JPMC Asks Why Fintech Fraudster in Dimon Blindspot

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Jan 24 – JPMorgan Chase bought a start-up called Frank, which claimed to have 4 million students signed up to file their FAFSA forms, for $175 million. Then Chase learned Frank had only 300,000 customers.

On April 4, 2023, Frank founder Ms. Charlie Javice was brought before U.S. District Court for the Southern District of New York Magistrate Judge Barbara C. Moses and was freed on $2 million bond. Inner City Press was there - and has now published the first book about Javice, "Fintech Fraudster?" Book and audiobook on Amazon here

On May 18, Javice was indicted and the case assigned to District Judge Alvin K. Hellerstein.

Inner City Press live tweeted the more than two hour hearing on January 23, here. Trial was delayed one week to February 18.

More on X for Subscriber here and Substack here

This case is USA v. Javice, et al., 1:23-cr-251 (Hellerstein)

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January 20, 2025

BitMEX Hayes Got 6 Months at Home as Delo Back to HK Now $100 Million Fine

By Matthew Russell Lee, Patreon

SDNY COURTHOUSE, Jan 15 – Four executives of the Bitcoin Mercantile Exchange or BitMEX were criminal defendants for violations of the Bank Secrecy Act. On February 24, with no notice, a guilty plea - each to a single count.

Back on October 13, 2021 U.S. District Court for the Southern District of New York Judge John G. Koeltlt held a proceeding. Inner City Press covered it, below.

On May 20, 2022 after Hayes pleaded guilty, he was sentenced - to two years probation, the first six months of which are home confinement with location monitoring. Inner City Press live tweeted it here and below.

On March 17, 2023 Hayes through counsel made a request to Judge Koeltl - with all substance redacted, photo here.

When co defendant Benjamin Delo came up for sentencing on June 15, Delo's lawyer urged no home confinement at all, just travel back to Hong Kong. And he got it - with thirty months probation the administration of which is unclear. Inner City Press live tweeted it here:

Delo's lawyer: Even home confinement is unnecessary. He is a British citizen, here on a tourist visa. He cooperated with the CFTC.

Defense: Ben was living in Hong Kong. He gave money to Oxford. [There are more than a dozen suited persons here in the gallery]

Judge: Didn't he know there were US persons im the platform?

Defense: He didn't encourage it

Delo: This case hurts my philanthropy. AUSA: Yes most messages we used were from Mr Hayes. But many were to Mr Delo. He knew.

Judge Koeltl: Guideline is 6 to 12 months. The US chose not to go for money laundering or fraud. The co-defenfant [Hayes], I sentenced to 6 months home confinement. But Delo has lived in Bermuda. So I sentence Delo to 30 months probation, no home confinement.

On July 13, Delo's counsel filed notice that he will submit a letter motion on or before August 1 to redact portions of the transcript.

On July 18, Delo's counsel emailed Judge Koetlt proposed redactions, the scope of which the public and press cannot see, arguing in a cover letter that the information "should be treated with caution." If so, why did his counsel say it in open court seeking a time served sentence?

Then this: "MEMO ENDORSEMENT as to Benjamin Delo (2) granting [376] MOTION to Redact [367] Transcript. ENDORSEMENT: APPLICATION GRANTED. SO ORDERED. (Signed by Judge John G. Koeltl on 7/19/2022)." Of course, it doesn't change what was said in open court.

Later in July co-defendant Reed was sentenced to 18 months probation, and travel anywhere: "JUDGMENT IN A CRIMINAL CASE as to Samuel Reed (3). THE DEFENDANT: pleaded guilty to count ONE OF THE INDICTMENT. ALL OPEN COUNTS are dismissed on the motion of the United States. PROBATION: Eighteen (18) months on Count One. --The Court will not impose the Special conditions suggested by the Probation Department at Pages 45 and 46 of the Presentence Report. --The defendant will be permitted domestic and international travel, and will be permitted to have contact with Messrs Hayes and Delo. -No fine is imposed, because the fine has already been paid. ASSESSMENT: $100.00. Special instructions regarding the payment of criminal monetary penalties: --The special assessment shall be due immediately. (Signed by Judge John G. Koeltl on 7/22/2022)."

Docketed on June 29, this: "CASH BAIL RETURNED as to Benjamin Delo as per [357] Order, Terminate Motions, dated 06/22/2022, from Judge John G. Koeltl, in the amount of $2,000,000.00, No. 03046969, Check Dated 06/28/2022, payable to SMITH VILLAZOR LLP."

On July 5, Delo's counsel wrote to Judge Koeltl asking that the judgment be amended to allow Delo to speak with Hayes and Reed.

And he got it: "MEMO ENDORSED granting [364] LETTER MOTION Request to Amend Judgment (to reflect that Standard Condition of Supervision Number 8 not apply to contact with Messrs, Hayes and Reed) as to Benjamin Delo (2)... ENDORSEMENT: APPLICATION GRANTED. SO ORDERED. (Signed by Judge John G. Koeltl on 7/5/22)."

On November 16, co-defendant Gregory Dwyer got one year probation: "Minute Entry for proceedings held before Judge John G. Koeltl: Sentencing held on 11/16/2022 for Gregory Dwyer (4) Count 1. Deft Dwyer pres w/atty Jenna Dabbs. AUSA Samuel Raymond. Reporter Sadie Herbert. Deft Dwyer sentenced to one (1) year probation; $150,000 fine."

Jump cut to October 7, 2024, still going, thread:

now at US v. HDR Global Trading a/k/a BitMEX - today was to be sentencing but US has asked for a Fatico hearing, saying loss amount is $128 million.

Judge: The arguments have gotten too personal in this case. The defense says the US is pursuing this because the sentences I imposed on the individual defendants were too low.

Judge: I can't impose home confinement on a corporation.

AUSA: The Fatico hearing would take one day.

Judge: Hearing on Nov 6 and 7, 3500 materials by Oct 21. Adjourned

On January 15, 2025, "HDR GLOBAL TRADING LTD., a/k/a BITMEX," was sentenced today to a fine of $100 million for violating the Bank Secrecy Act by willfully failing to establish, implement, and maintain an adequate anti-money laundering and know-your-customer program."

This case is USA v. HDR Trading Global Limited, 24-cr-424 (Koeltl)

The case is overall case is US v. Hayes, et al., 20-cr-500 (Koeltl)

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January 13, 2025

Do Kwon Trial Set for Jan 26 in 2026 as Motion on Count 9 Previewed Inner City Press to Cover

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Jan 8 – After the collapse of the crypto firm Terraform Labs, Inner City Press covered the SEC's trial against it and Do Kwon - except that Kwon was in Montenegro.

District Judge John P. Cronan had signed an order that the superseding indictment should be unsealed and available as of 9 am. But it was not, until nearly noon. Inner City Press immediately put it online here

Just after noon Do Kwon was presented and pled not guilty, was detained, thread

The case was reassigned to Judge Paul A. Engelmayer to whom the US Attorney's Office on January 6 directed a victims' notice motion, on Patreon here

On January 8 Judge Engelmayer held a conference and set a January 26, 2026 trial date, among many other things. Inner City Press pressed and live tweeted, thread

More / extra on X for Subscribers here, Patreon (with US case status summary) here

Watch this site

The case is USA v. Kwon, 1:23-cr-151 (Engelmayer)

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January 6, 2025

Cadence Bank Faced Fair Lending DOJ Charge Inner City Press Told Fed Now Proxy Delay

By Matthew Russell Lee, Patreon

FEDERAL COURT / BRONX, Dec 30 -- How out of control is the merger rubber stamping of the U.S. Federal Reserve and other regulators, even as they are ostensibly working to improve?

Today it's reported that Cadence Bank is looking to settle with DOJ on lending discrimination. But Inner City Press / Fair Finance Watch protested Cadence to the Federal Reserve in 2018 - and the Fed approved the merger.

Inner City Press / Fair Finance Watch wrote: "timely first comment on, the Applications of Cadence Bancorporation, Houston, Texas; to acquire State Bank Financial Corporation, Atlanta, Georgia, and thereby indirectly acquire State Bank and Trust Company, Macon, Georgia As an initial matter, this is a request that the FRS immediately send by email to Inner City Press all non-exempt portions of the applications / notices for which the Applicants have requested confidential treatment.

Fair Finance Watch has been tracking Cadence Bank: In 2017 in the Dallas, Texas MSA for convention home purchase loans, Cadence made 99 such loans to whites - and NONE, not a single origination, to African Americans. In 2017 in the Houston Texas MSA for convention home purchase loans, Cadence made 236 such loans to whites - and only 15 to African Americans, and only 23 to Latinos. This is not in keeping with the aggregate, which made 37,128 such loans to whites, 3151 to African Americans and 8215 to Latinos.

In 2017 in the Birmingham, Alabama MSA for convention home purchase loans, Cadence made 66 such loans to whites - and only ONE to African Americans. Even combining in Table 4-1, it was 79 home purchase loans to whites and only THREE to African Americans. This should also be address in this proceeding, including at the requested evidentiary hearing: “Cadence Bank - Racist manager 2800 Post Oak Blvd Suite 101, Houston, TX 77056, USA Oct 14, 2017 NOT RESOLVED I had my 2 business accounts at the Williams tower location, I tried talking to the manager about small business loans she always avoided me looking at me kind of weird whenever I done withdrawals she always asked me why I'm taking money out after 3 months she sent me a Leter saying she's going to be closing my account because I take money out ones a week for payroll and she didn't like that”

This was covered not only in Inner City Press, here on FOIA abuses the Fed did nothing about, but also, for example, Barron's, here.

And the Fed rubber stamped the merger.

Jump cut to December 2024 when Cadence had to adjourn its shareholders meeting, to try to "solicit proxies from preferred shareholders in favor of a proposal (Proposal 2) to authorize the Cadence Bank board of directors to implement repurchases of stock in accordance with Regulation H." Watch this site.

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December 30, 2024

Crypto into banking? Fintech LevelField Financial Inc. withdrew its application seeking Federal Reserve approval to acquire Burling Bank on Feb. 12, according to the central bank's most recent H.2 release, but it plans to refile. The company withdrew because it "did not yet have sufficient funds to close the transaction," CEO Gene Grant II told S&P Global Market Intelligence via email. But LevelField plans to refile the application in the near future after the completion of an acceptable funding round, he added. "LevelField continues to believe in the strength of the proposed LevelField Bank business model and remains optimistic about the future working together with the strong team at Burling Bank," Grant said. The transaction was announced in February 2023. With the bank acquisition, LevelField aims to provide depository and lending services directly to cryptocurrency-savvy consumers, Grant previously said. We'll see...

December 23, 2024

Cancer Survivor from Ground Zero Sues Bank of New York Mellon for ADA Discrimination

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Dec 16 – The Bank of New York Mellon has been sued a former staffer who was fired, he said, for disabilities incurred from a 9/11 related cancer.

Seiran Salimov filed suit in the U.S. District Court for the Southern District of New York on December 16; Inner City Press which closely covers the SDNY found it in the docket.

Salimov complaint recounts how, while he was a BNY senior programmer analyst, he was diagnosed with 9/11 related cancer.

He asked for an accommodation but BNY questioned it, finally firing him on June 26, 2023. He got an EEOC Notice of Right to Sue and filed the suit.

The case is Salimov v. Bank of New York Mellon Corporation, 1:24-cv-9596 (Unassigned)

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December 16, 2024

Tornado Cash Roman Storm Trial Still April 14 2025 as His Lawyers Say May Appeal to Sup Ct

by Matthew Russell Lee, Patreon Book Substack

SDNY COURTHOUSE, Dec 9 – Roman Storm is charged using his cryptocurrency mixed Tornado Cash to help launder money for North Korea's hackers in the Lazarus Group.