In today's Biz Breakdown, the FBI arrests a top crypto CEO for fraud, America's pilot shortage gets worse as summer travel surges, and Elon Musk says Twitter's legal team told him he violated his NDA when talking about the platform's bot report.

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Biz Breakdown: FBI Arrests Crypto CEO, Pilot Shortage Gets Worse, Musk Says Twitter Thinks He Violated An NDA

the operator of a new york based Cryptocurrency firm was arrested and charged by the FBI for running a $59 million fraud scheme. The ceo of M ni effects Eddie alexander solicited funds from hundreds of individual investors that after making false representations in connections with his trading platform Between September 2021 and May of this year. Now, Manhattan Federal Court says Alexander allegedly persuaded clients to invest over 59 million all with guarantees of weekly returns from the trading platform using a new technology that he refused to disclose. The statement notes that Alexander invested very little of the money and instead transferred the funds to his personal account, all to buy luxury items. Meanwhile, a pilot shortage in the US is now forcing airlines to cut flights just when the travel season begins to take off. Over 150 flights had to be grounded this year. That is, the industry continues to scramble to replace the growing number of pilots that are leaving the profession to extend aviators time in the sky. Many are now considering legislation to raise the federally mandated retirement age from 65 to 67 or potentially even higher. Airlines are proposing a reduction in flight our requirements before joining a us carrier as well. While others are rethinking training programs to lower the barrier to entry travel experts believe that the pilot shortage will get worse and they warned the issue could take years to solve And Elon Musk says Twitter's legal team is now accusing him of violating a nondisclosure agreement by revealing that the sample size for the social media platforms checks on automated users was 100 on Friday must tweeted that his $44 billion dollar cash deal to take the company private was quote temporarily on hold while he awaited data on the proportion of fake accounts. Well, MA says his team would test a random sample of 100 followers on twitter to identify the bots. His response to that question prompted Twitter's accusation.