FTX’s former law firm hit with lawsuit alleging it set up shadowy entities
The suit claims “shadowy entities” set up by Fenwick & West were allegedly used by FTX and former top executives to misappropriate customer funds.
The suit claims “shadowy entities” set up by Fenwick & West were allegedly used by FTX and former top executives to misappropriate customer funds.
Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too.
Former FTX and Alameda Research executives Sam Bankman-Fried, Caroline Ellison, Gary Wang and Nishad Singh were named in the suit from FTX.
The fund transfer may be part of a recovery effort to repay creditors of the failed FTX crypto exchange.
The Skybridge founder said that Binance CEO Changpeng Zhao is not to blame for the collapse.
While the funds represent a small portion of FTX’s overall asset shortfall, the settlement means the firms can avoid a costly legal battle.
Billions worth of loans and payments flowed from FTX entities to Sam Bankman-Fried and five other former executives of FTX and Alameda Research.
Sam Bankman-Fried’s lawyers said they’re still waiting on evidence from federal prosecutors and as a result need more time to prepare a defense.
Roughly 11 days ago, it was reported that Nishad Singh, the former director of engineering at FTX, was working with federal prosecutors to arrange a plea deal. On Tuesday, Singh…
Another member of Sam Bankman-Fried’s inner circle allegedly plans to plead guilty to criminal charges for his role in the alleged fraud that occurred at the cryptocurrency exchange FTX. According…