FTX files lawsuit against former company executives for $1 billion – Kommersant
[ad_1]
FTX has filed lawsuit to the US Bankruptcy Court against four former company executives, accusing them of illegally transferring funds from a cryptocurrency exchange totaling more than $1 billion. Now the exchange is demanding that former top managers return the misappropriated funds to it.
The lawsuit is filed against founder and former CEO of the exchange Sam Bankman-Fried, FTX co-founder Gary Wang, former head of Alameda Research Caroline Ellison and former FTX CTO Nishad Singh. The lawsuit notes that all four regularly transferred tens of millions of dollars to their accounts and the accounts of loved ones, marking the transfers as loans. None of these loans ended up being repaid, FTX lawyers say.
Recall that FTX Group announced filed for bankruptcy on November 11 last year. The founder of the exchange, Sam Bankman-Fried, was accused of organizing a scheme to deceive investors who invested almost $ 1.8 billion in the crypto exchange. According to the investigation, the founder of FTX transferred client funds to the accounts of his other company, the Alameda Research trading platform.
At the end of December, his guilt in the case of fraud in the FTX Group recognized Gary Wang and Caroline Ellison. They are cooperating with the investigation. In March, Nishad Singh also pleaded guilty. FTX founder Sam Bankman-Freed has been charged with more than a dozen charges, including fraud, conspiracy to defraud, negligence in the management of the exchange, bribery, etc. He was arrested in the Bahamas last December and then extradited to the United States. He is currently under house arrest. Bankman-Fried pleads not guilty.
[ad_2]
Source link
