Close Menu
  • Homepage
  • Local News
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
  • Business
  • Technology
  • Health
  • Lifestyle
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
Facebook X (Twitter) Instagram Pinterest
JHB NewsJHB News
  • Local
  • India
  • World
  • Politics
  • Sports
  • Finance
  • Entertainment
Let’s Fight Corruption
JHB NewsJHB News
Home»Finance»Sam Bankman-Fried is paying defense lawyers with FTX funds: lawsuit
Finance

Sam Bankman-Fried is paying defense lawyers with FTX funds: lawsuit

July 21, 2023No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Sam Bankman-Fried is paying defense lawyers with FTX funds: lawsuit
Share
Facebook Twitter LinkedIn Pinterest Email

Indicted FTX founder Sam Bankman-Fried exits United States Courtroom in New York Metropolis, June 15, 2023.

Mike Segar | Reuters

Sam Bankman-Fried, co-founder of failed crypto alternate FTX, was sued in Delaware chapter court docket on Thursday by his ex-company’s attorneys, who accuse him and members of his management crew of stealing lots of of thousands and thousands of {dollars}.

The attorneys are looking for to get better funds from Bankman-Fried and former executives of FTX and sister hedge fund Alameda Analysis. A method the attorneys for the bankrupt alternate say Bankman-Fried pilfered cash was by a $10 million present to his father, distinguished authorized scholar Joe Bankman.

associated investing information

Morgan Stanley stock surges after earnings beat. Here's what the pros are saying

CNBC Pro

A lot of that $10 million present from was routed from FTX to Bankman-Fried’s Morgan Stanley and TD Ameritrade accounts round January 2022, the lawsuit alleges. The criticism claims these proceeds at the moment are paying for Bankman-Fried’s prison protection payments.

A consultant for Bankman-Fried declined to remark.

Bankman-Fried was indicted on fraud and bribery prices in addition to marketing campaign finance violations after FTX filed for chapter late final 12 months. His alternate, as soon as valued at $32 billion, collapsed nearly in a single day after liquidity dried up and prospects demanded withdrawals that the corporate could not meet.

Bankman-Fried pleaded not responsible. His trial is anticipated to start later this 12 months.

Legal professionals for FTX have been in the hunt for the corporate’s remaining belongings in an effort to get better as a lot cash as potential for collectors.

FTX and Alameda executives Caroline Ellison, Gary Wang, and Nishad Singh are co-defendants within the case, alongside Bankman-Fried.

WATCH: Taylor Swift agreed to FTX partnership, however the crypto alternate bailed

Taylor Swift agreed to FTX partnership, but the crypto exchange bailed: source

Source link

BankmanFried defense FTX funds Lawsuit lawyers paying Sam
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

SharpLink Announcement Breathes New Life Into Ether ETFs

May 30, 2025

Broadridge Partners with Novisto to Launch Advanced Sustainability Reporting Platform

May 30, 2025

U.S.-China talks ‘stalled’ and need Trump and Xi to weigh in, Bessent says

May 30, 2025

Taiwan Semiconductor Manufacturing Company Limited (TSM) Slid due to Broader Market Correction

May 30, 2025
Add A Comment
Leave A Reply Cancel Reply

Editors Picks

SharpLink Announcement Breathes New Life Into Ether ETFs

May 30, 2025

Bengaluru police crack woman’s murder, arrest relative and friend | Bangalore News

May 30, 2025

Tripura CM Manik Saha on Pradyot Kishore being denied audience with Gomati DM

May 30, 2025

When Shilpa Shetty Kundra opened up about suffering from an autoimmune condition: ‘I had a couple of miscarriages’ | Health News

May 30, 2025
Popular Post

North Koreans secretly hate Kim Jong Un’s ‘plump, well-dressed’ daughter: Report | World News

Global stocks mostly higher after Wall Street tech gains

Badminton Asia Mixed Team: Fit-again PV Sindhu to spearhead India’s challenge

Subscribe to Updates

Get the latest news from JHB News about Bangalore, Worlds, Entertainment and more.

JHB News
Facebook X (Twitter) Instagram Pinterest
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • DMCA
© 2025 Jhb.news - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.