Bankrupt cryptocurrency exchange FTX has filed a lawsuit for $1 billion in suspicious transactions by former top officials, including former CEO and founder Sam Bankman-Fried (SBF).
FTX front 20 July Founder and former CEO Sam Bankman-Fried, chief executive of Alameda Research, who is often mentioned throughout the entire bankruptcy process. Caroline Ellisonco-founder of FTX Gary wang and former FTX engineering director Nishad to Singh get back millions of dollars against and suspect Reason for $1 billion transaction filed a lawsuit.
In the case, the persons named take unfair advantage that they use the funds of the cryptocurrency exchange for interests of FTX customers It was alleged that they did nothing for it.
FTX lawyers specifically accused SBF of using funds from US clients to finance its own litigation. According to the documents submitted to the court, the SBF, 10 million dollars FTX US transferred the funds to his personal account on the platform – then a minute later this amount on behalf of his father sent it to an FTX account. Thereupon, SBF’s father shared a large part of this fund. in litigation transferred to law firms.
Among the accusations, Bankman-Fried and Wang’s death in May 2022. Shares of Robinhood (HOOD) to buy from Alameda $546 million used were also included. FTX lawyers offer interest rates below the commercial market rates of these names. fake loans claimed to have.
On the other hand, another claim of FTX is that former executives, including SBF, luxury apartments, political And charitable contributions, speculative investments and to finance other projects continually embezzling client funds and that they violated their duties.
SBF and Alameda Research linked in case file multiple embezzlement And ill-gotten gain accusation While it was being done, the collapse of trillions of dollars once again came to the surface.