Judge Who Released SBF Withdraws from Case: Link to FTX Revealed!

Every day, new statements are made about FTX and its former managers. The latest development, which emerged late Friday, concerns the ongoing lawsuit of Sam Bankman-Fried.

Judge Ronnie Abrams’ Spouse Revealed to Advise FTX

U.S. District Judge Ronnie Abrams withdrew from the SBF case due to conflict of interest. Apparently, Abrams’ husband, cryptocurrency He is a partner at a law firm that advises the stock exchange FTX.

In the ruling, Abrams explained that the law firm Davis Polk & Wardwell LLP represents parties that may be against FTX and SBF in other cases, adding:

“My husband has nothing to do with any of these agencies. These matters are confidential and their content is unknown to the court. However, the court is withdrawing from this case in order to avoid a possible conflict or appearance of conflict.”

Now, another judge will be appointed to take over the case. Besides SBF, parties involved in the case include two other executives, Gary Wang and Caroline Ellison, who recently pleaded guilty to fraud. They are currently cooperating with investigations against them.

Ellison has reportedly pleaded guilty to seven crimes: conspiracy to commit fraud on FTX customers, fraud on FTX customers, conspiracy to scam Alameda Research lenders, and fraud on Alameda lenders.

Ellison also pleaded guilty to conspiracy to commit commodity fraud, conspiracy to commit securities fraud, and conspiracy to launder money.

Gary Wang, co-founder of FTX, admitted only four charges. These included conspiracy to commit fraud on FTX customers, conspiracy to commit fraud on FTX customers, conspiracy to commit commodity fraud, and conspiracy to commit securities fraud.

*Not investment advice.