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<ul class="summary-list"><li>Former FTX Chief Regulatory Officer, Daniel Friedberg, was allegedly involved in covering up a $50 million online poker cheating scandal.</li><li>Friedberg also gave the maximum allowable donation to GOP House member George Santos' campaign last year.</li></ul>FTX's former chief regulatory officer Daniel Friedberg has ties to multiple affairs in addition to the fallen crypto exchange, including controversy-plagued Congressman George Santos and an infamous online-poker scandal. The Seattle-based attorney <a href="https://www.nbcnews.com/news/ftxs-regulatory-chief-4-job-titles-2-years-was-really-rcna57965" target="_blank" rel="noopener">reportedly</a> had four roles in his two-year stint working in Sam Bankman-Fried's once-$32 billion crypto operation, according to CNBC. He served as legal counsel for Alameda Research, the sister trading firm that's been accused of misusing billions worth of FTX customer deposits. Besides connections to what US prosecutors have called "one of the <a href="https://www.axios.com/2022/12/13/ftx-bank-man-fried-sdny" target="_blank" rel="noopener">biggest financial frauds</a> in American history," Friedberg was reportedly involved in another controversy that shook up an entire industry — the online poker world.The 52 year old was an exec at a Canadian software company called Excapsa, whose poker platform had a role in a long-running cheating scandal that exploited $50 million from players, including actor Ben Affleck. The poker website, Ultimate Bet, later confirmed that the cheating had taken place on the platform, adding that an "unfair advantage" was given to certain players, which allowed them to see their opponents' cards. "The individuals responsible were found to have worked for the previous ownership of Ultimate Bet [or Excapsa]," said the company.Along with other former Excapsa execs, Friedberg was recorded in a conversation about covering up the cheating scheme, industry trade publication <a href="https://www.pokernews.com/news/2013/05/audio-tapes-expose-ultimate-bet-cheating-scandal-14986.htm" target="_blank" rel="noopener">PokerNews</a> reported in 2013.<h2>Donation to George Santos' campaign</h2>Similar to many FTX higher-ups, Friedberg gave money to aspiring politicians. He gave the maximum allowable $5,800 to Santos' campaign in the New York Republican's run for office last June, The Seattle Times first <a href="https://www.seattletimes.com/seattle-news/politics/the-seattle-attorney-connected-to-george-santos-the-ftx-crypto-scandal/" target="_blank" rel="noopener">reported.</a>Friedberg almost never made political donation prior to Santos, but several FTX executives also gave money to the beleaguered GOP House member, according to the news outlet, citing Federal Election Commission filings."Obviously he's a terrible candidate but this was unknown to me at the time," Friedberg said in an email to The Seattle Times, adding that he only contributed because of a friend's recommendation. Santos now faces criminal and ethics probes around his falsified resume and campaign finances. The newly-elected Republican has also been accused of taking thousands of dollars from a homeless veteran's GoFundMe account, which was raising funds for his sick service dog. In terms of the ex-regulatory chief's involvement in FTX's alleged wrongdoings, he is working with US prosecutors, according to a <a href="https://www.reuters.com/business/finance/ftxs-former-top-lawyer-aided-us-authorities-bankman-fried-case-2023-01-05/" target="_blank" rel="noopener">Reuters report.</a> Elsewhere, Friedberg was listed in a <a href="https://www.documentcloud.org/documents/23601136-amended-class-action-lawsuit" target="_blank" rel="noopener">class action lawsuit,</a> alleging that the former exec was "instrumental in perpetrating [FTX's] nefarious activities, in part by helping to cover up any indications that the FTX scheme was unraveling."Friedberg could not be reached for comment.

FTX's former regulatory chief was at the center one of the largest online poker cheating scandals ever and a donor to George Santos' campaign

Until last week, India has seen an incredible TRP rating for its <keyword id="6356028" type="COMPANY" weightage="20" keywordseo="Sports">sports</keyword> channel, thanks to the much talked about <keyword id="6354312" type="CITY" weightage="100" keywordseo="IPL">IPL</keyword> cricket series. With Mumbai Indians winning the grand finale in a breathless game, the IPL ended with a surprising note. But if you are thinking that with IPL, your sports appetite is over, you are wrong. For <keyword id="3998380" type="UNKNOWN" weightage="20" keywordseo="Poker-Sports-League">Poker Sports League</keyword> (PSL) is on your platter and tomorrow the finale will be played at Goa. Well, it’s Poker and what’s fun without casinos! In an <keyword id="6370284" type="ORGANIZATION" weightage="20" keywordseo="Exclusive">exclusive</keyword> interview with Business Insider, Pranav Bagai, CEO of <keyword id="4582334" type="UNKNOWN" weightage="20" keywordseo="sports-poker-league">Sports Poker League</keyword> is very clear that Poker isn’t gambling. “The vision of the leagues is to sportify the game of Poker. We want to educate wider audience about the fact that poker is a skill-based sport – not chance, not gambling.The design of the Poker Sports League itself proves that it’s a game of skill. Anybody who wants to be part of the team will have to perform well in multiple events and the luck element definitely goes away. It’s a game of the probabilities, mathematics, and logic and the design of the league proves that.” Bagai got his idea in 2015, when the Vice Chairman of Dabur India Ltd, Amit Burman connected with him. “After developing the format of the league over a couple of months, the project was kept on hold for more than a year. In 2016, Anuj Gupta, Founder of Adda52.com – India’s largest Poker portal - expressed his interest in starting an offline <keyword id="3997604" type="UNKNOWN" weightage="100" keywordseo="Poker-league">poker league</keyword> to me. Soon, Mr Burman and Anuj connected - leading to the inception of Poker Sports League,” said Bagai. Format of the game The Poker Sports League is one unified poker league, which offers Indian poker players the chance to be a part of 12 teams who fight it out for the ultimate glory in poker. Just like cricket or hockey premiere leagues in India, Poker Sports League has teams from Kolkata, Delhi, Hyderabad, Goa, Gujarat and various other states. Unlike cricket that continues for month, PSL is a 4 day event. There is remuneration for every player who is selected as an active player in any PSL team. Each player will also have a winning incentive which will be a percentage of the total prize pool of the team. These remunerations will increase based on team performance in the Finale. Also the remuneration for Season 2 will at least be double of Year 1. 75% of the winnings go to the Team Owner, 20% towards Player Incentive and 5% towards Mentor Incentive. The Prize Pool is Rs 3.36 crore where position 1 will get Rs 1.5 crore and Position 2 Rs 1 crore. Positio 3 and 4 would be receiving Rs 50 lakhs and Rs 35 lakhs respectively. Just like the team owners and founder, the team members are equally excited. Captain of Goan Nuts Team, Dhaval Mudgal, is one of the most consistent performers at the Asia Circuit. He has been a part of the Poker industry for a long time in various roles, as Chief Editor of Card player India, Tournament Organizer and Player. Last evening ended with Mumbai and Punjab occupying the top position in terms of total points scored.

Move over IPL, you can play Poker League and earn money now

<ul class="summary-list"><li>Jenny Woo is the founder of Mind Brain Emotion, which sells emotional-intelligence card games.</li><li>She started her company in 2018 after polling parents and school counselors for ideas.</li></ul>This as-told-to essay is based on a conversation with Jenny Woo, the 40-year-old founder of <a href="https://mindbrainemotion.com/" target="_blank" rel="noopener">Mind Brain Emotion</a>, from Irvine, California. Insider has verified her business' revenue with documentation. The following has been edited for length and clarity.I moved to the US from China when I was 10 and am the first one to earn multiple advanced degrees in my family. While in school, I learned to maintain a positive attitude in the face of adversity, advocate for myself, and develop authentic relationships — the starting point for what would later become a brand for teaching emotional intelligence.I started working when I was 15 at dim-sum restaurants and Denny's, but I've always had various entrepreneurial projects on the side, like scalping concert tickets in high school and selling photo-booth props and custom event designs on Etsy. As someone passionate about human development, I later held jobs as a human-capital consultant at Deloitte, a manager of talent strategy at Cisco Systems, an MBA career coach at <a href="https://www.businessinsider.com/how-to-get-into-uc-berkeley-haas-school-of-business">UC Berkeley</a>, a director of a Montessori school network, and a fitness trainer.But in 2018, I quit my job at the Montessori school and founded my company, Mind Brain Emotion, where I sell practical card games on emotional intelligence. My company's revenue in 2022 was more than $877,000.This is how I did it.<h2>The idea came together for me when I had 3 kids under 3 who would endlessly send me on an emotional roller coaster</h2>My work in child development as a school director had highlighted to me the value of learning social and emotional skills early on in life. And as a student, I was in a class once where the instructor grouped students in pairs and had them draw poker cards with ice-breaker questions on them. I learned that a deck of cards was the perfect simple and tactical medium for my idea.Next came the conceptualization stage. I studied the kind of language my target audience was using in Facebook groups for parents, counselors, and educators, and I polled a couple of groups to see how my products resonated with them.Many moms in the groups said they struggled to connect with their kids because they didn't know what to ask and didn't have enough time in the day, so I highlighted a feature to respond to this pain point — "engaging prompts to connect with your kids on the go: in the car, while waiting in line, and at the dinner table" — in my product description.In the early stages, I was iterating my product design myself almost every other week. I picked the card-deck design because I thought repurposing card suits and numbers would help users understand which skills they were working on without having to read a manual — the suits categorized the skills into competencies, and the numbers sorted them by level of difficulty.I now hire a part-time copywriter and a seasonal designer when I'm working on a new product. My team is currently three people: a part-time content developer, a part-time salesperson, and me.<h2>I started with a campaign on Kickstarter</h2>In May 2018, I advertised 1,000 preorders on Kickstarter for my first product, a deck called 52 Essential Conversations. I told friends and family, emailed schools and parent organizations, posted in Facebook groups, ran Facebook ads, and made an Amazon storefront.More than a third of the decks were bought via that <a href="https://www.kickstarter.com/projects/900100964/52-essential-conversations-a-game-on-life" target="_blank" rel="noopener">Kickstarter campaign</a>. I allocated the remaining decks to promote on Amazon and my website for the rest of the year, but everything sold out within the next two months after The Harvard Gazette <a href="https://www.gse.harvard.edu/news/18/09/power-conversation" target="_blank" rel="noopener">published an article</a> about my product. The publicity skyrocketed my sales on Amazon, and I plastered it all over my marketing copy and packaging.I also invited teachers, counselors, and college professors to record audio on the theme and content of a single card in the deck on my podcast, then integrated a "<a href="https://mindbrainparenting.org/parenting-podcast" target="_blank" rel="noopener">lessons by topic</a>" section into my website and promoted it as a virtual-card feature on Amazon. The expert guests and I then cross-promoted each other on social media.<h2>I used Amazon Ads to bid on keywords that consumers used to search for similar products</h2>A bid is the amount of money you're willing to spend toward a keyword or advertisement. <a href="https://affiliate.insider.com?postID=63cee14038646745ea72be33&amp;site=bi&amp;u=https%3A%2F%2Fadvertising.amazon.com%2Flibrary%2Fwebinars%2Fgetting-started-with-budgets-bids%2F%3Fref_%3Da20m_us_search_title" target="_blank" rel="nofollow noopener sponsored">Amazon Ads</a> includes an algorithm that recommends keyword bid prices to you. I bid on keywords related to what someone on Amazon might type when they searched for products related to emotional intelligence, such as "EQ for kids."To get preliminary data on which keywords were the most effective for driving people to my product, I used an <a href="https://affiliate.insider.com?postID=63cee14038646745ea72be33&amp;site=bi&amp;u=https%3A%2F%2Fadvertising.amazon.com%2Fsolutions%2Fproducts%2Fcustom-solutions%3Ftag%3Dgooghydr-20%26hvadid%3D448098134815%26hvpos%3D%26hvexid%3D%26hvnetw%3Dg%26hvrand%3D14027723695740280773%26hvpone%3D%26hvptwo%3D%26hvqmt%3Db%26hvdev%3Dc%26hvdvcmdl%3D%26hvlocint%3D%26hvlocphy%3D9067609%26hvtargid%3Dkwd-924350940226%26ref%3Dpd_sl_k83prr78e_b_sspa_ggl_d_us_ct_448098134815" target="_blank" rel="nofollow noopener sponsored nofollow sponsored">Amazon tool</a> that chooses keywords for you to bid on based on your product listing and related customer searches.I learned that product-listing optimization was vital to my profitability and organic indexing, where you don't have to pay to get on top of the search-results page. You have limited time to catch a shopper's attention, so your product title, image, and description need to be as relevant as possible to what people are searching for and what you're providing. The more people who click to buy your product after a relevant search, the more likely Amazon will rank your product higher in the search results.I also talked to game-industry buyers at a conference in Chicago, and their feedback gave me the clarity I needed: I'd been marketing my cards as children's toys, which would mean I'd be competing in vain against fun games backed by giant game makers. I decided to switch my language from "card game" to "educational learning tool."<h2>Next, I conducted a satisfactory survey</h2>The survey consisted of 74 of my customers across dozens of schools in 11 countries. I used <a href="https://www.qualtrics.com/">Qualtrics</a>, an online-survey platform, and my email list to invite people to fill out the survey.My goal was to get an inside look at how, where, and why my customers were using my product. I came up with 20 questions — a mix of multiple choice, checking all boxes that apply, and open-ended inquiries — and was amazed to discover that educators and mental-health professionals were using this tool more than parents were, as I thought it'd surely be the opposite. Their reasons were that my cards complied with their educational standards and were easy to use and understand.The results helped me fine-tune my marketing copy on Amazon. I made it more educator-oriented by focusing on the learning and behavioral benefits in schools and after-school settings — speech and language support, class discussion, reflective writing prompts, and peer mentorship — and including photos from the educators' classrooms on my website.I did more market research in late 2018 and by the following March, another card deck was born: 52 Essential Relationships.I've since expanded, and I now sell seven different decks. I went backward to move forward in my business because I recognized that in order to have genuine conversations, trust and understanding are prerequisites.

I made more than $877,000 in revenue last year selling emotional-intelligence card games online. Here's how I built my business.

<keyword id="164916" type="PERSON" weightage="100" keywordseo="Alok-Mittal">Alok Mittal</keyword> as a full-time entrepreneur and a part-time investor says that his early investments were obviously non-tech related as he was a Cannan Partner. By 2014, he was back at his own game and his style of investing is non-intrusive, where he doesn’t take advisory positions in the companies. “If the entrepreneur needs me then I’m available but I think you should let the founder do their job; I don’t mind losing money for a good cause,” says <keyword id="6367997" type="COMPANY" weightage="20" keywordseo="Mittal">Mittal</keyword> who has been an angel investor in many other <keyword id="6362513" type="ORGANIZATION" weightage="20" keywordseo="Startups">startups</keyword>, and will continue to participate in further rounds if the company is viable. 

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Mittal has acted as an angel investor in over 40 companies including edtech startup Cue Learn, online meal-booking platform for train passengers TravelKhana; SaaS-based training and recruitment startup Capabiliti; car rental startup JustRide; Envoged, a social platform for buying and selling pre-owned luxury fashion products, and many others varied investments such as StayClose, Supafoods, Autoflik, Cardback, Moneyview, Curofy, Wishberry, Qikwell, Bite Club, Globalthen, Taxspanner, Knowcross, Adda52, among others. The Big <keyword id="6354859" type="COMPANY" weightage="20" keywordseo="IIT">IIT</keyword> Startup Theory In regards to his IIT entrepreneurial roots, Mittal says he tries to contribute to debunking the myth that only IITians start great companies and even though he has network commitments only 15% of his portfolio companies are founded by people hailing from the IITs. 

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Mittal says that he is not swayed by the sector-specific approach but yes, if a sector is suddenly the talk of the market, he is biased to invest in that sector-specific startup. “Now that I’ve started <keyword id="3082456" type="UNKNOWN" weightage="20" keywordseo="Indifi">Indifi</keyword>, the momentum of investments has gone down but I will never stop investing as I can be hands-off,” says <keyword id="19142" type="PERSON" weightage="20" keywordseo="alok">Alok</keyword>, who says that his passion is borne from commitment. 

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 Lending as an Investor vs. as a Founder Indifi has a sector-based approach to lending business, which is unique in this arena which means that every client gets a unique solution. Lenders like what they do and so do online businesses like MakeMyTrip, Paytm, Shopclues etc. who use this startup to find easy lending options for their vendors. Mittal says that his entrepreneurial journey seems long and arduous as lending might be a $400 Million business but the demand is endless, with new opportunities opening up every other week. Mittal says that his journey is never-ending as India needs entrepreneurs and founders need capital; every person who is trying to create employment, even if it’s just his own, has no lesser objective than the start-up founder who is trying to create the next billion dollar tech company.

Exclusive: Angel Investor Alok Mittal, is Debunking the Myth that IITian-led Start-ups are the only Good Bets in the Ecosystem

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>LONDON - British online fashion retailer Boohoo.com is bidding $20 million (£16.3 million) for the brand and customer list of bankrupt US clothing brand Nasty Gal.Founded in 2006 in Los Angeles, Nasty Gal began as an eBay shop for vintage clothing. It specialises in fashion for young women, marketing itself as an edgy brand indicative of LA's carefree attitude.Nasty Gal's founder, Sophia Amoruso, has become a business icon in America, writing the New York Times best-selling book #Girlboss, which is being turned into a Netflix series. Amoruso has <a href="http://uk.businessinsider.com/sophia-amoruso-steps-down-nasty-gal-ceo-2015-1">stepped back from the business in recent years.</a>Despite strong early growth and popularity, venture capital-backed Nasty Girl has struggled in recent years. It had revenues of $77.1 million (£62.8 million) in the year to February 1, according to Boohoo, but made a loss of $21 million (£17.1 million) in the same financial year. <a href="http://uk.businessinsider.com/sophia-amoruso-hands-over-ceo-title-2016-11">It filed for bankruptcy protection in early November.</a>Industry blog the Business of Fashion suggested the company's demise was driven by <a href="https://www.businessoffashion.com/articles/intelligence/nasty-gal-what-went-wrong">over-ambitious investment in infrastructure such as warehouses and high fixed costs.</a> Nasty Gal raised $65 million (£52.9 million) in total, with $49 million (£39.9 million) coming from well-known European VC house Index Ventures.Boohoo <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/proposed-acquisition/201612280700148317S/">said in a statement to the market on Wednesday</a> that Nasty Gal is "a bold and distinctive brand for fashion-forward, free-thinking young women which the Board believes would complement boohoo's own inclusive and inspirational brand." Boohoo says it hopes the deal will accelerate its international expansion, particularly in the US.Boohoo.com was founded in Manchester in 2006, the same year as Nasty Gal, and offers own-brand "fast fashion" - cheap and trendy - to millennials online.The deal is subject to US bankruptcy proceedings and requires court approval, which Boohoo.com said it will seek on January 5.Boohoo.com joint CEOs Mahmud Kamani and Carol Kane <a href="http://www.investegate.co.uk/boohoo-com-plc--boo-/rns/proposed-acquisition/201612280700148317S/">said in a statement:</a> "Should we be successful in acquiring Nasty Gal it would represent a fantastic opportunity to add such a well-established, global brand to the Boohoo family."Following our recent acquisition of PrettyLittleThing.com, we believe this would represent an ideal next step in inspiring an ever-growing range of young customers internationally."&#xa0;<div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/michael-lewis-wall-street-change-liars-poker-2016-12">MICHAEL LEWIS: The biggest way Wall Street culture has changed since 'Liar's Poker'</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="8wdjVjODE6MkOHMQxihgcOG-j5umumOz" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

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