FTX bankruptcy estate sues Anthony Scaramucci, FWD.us, others
Bankrupt cryptocurrency company FTX filed 23 lawsuits Friday against Anthony Scaramucci (pictured above), his hedge fund SkyBridge Capital, and other
Bankrupt cryptocurrency company FTX filed 23 lawsuits Friday against Anthony Scaramucci (pictured above), his hedge fund SkyBridge Capital, and other organizations including Crypto.com and the Mark Zuckerberg-backed lobbying group Fwd.us.
These lawsuits are an attempt to claw back money for FTX’s creditors following the company’s collapse. FTX claims that the money targeted in these suits was part of “a campaign of influence-buying” by founder and CEO Sam Bankman-Fried, conducted as the company was struggling to meet its own cashflow needs.
The lawsuit claims, “These ‘investments’ conveyed little to no benefit to Debtors, and instead served only to prop up Bankman-Fried’s standing in the worlds of politics and traditional finance,” which he then attempted to leverage as “potential sources of equity investment in FTX to fill the hole in the balance sheet and, therefore, keep his scheme afloat.”
Since the company went bankrupt, FTX executives have been convicted of crimes including fraud and money laundering. Bankman-Fried was sentenced to 25 years in prison and is currently appealing his conviction.
Article
Sam Bankman-Fried appeals conviction, criticizes judge’s ‘unbalanced’ decisions
Lawyers representing Sam Bankman-Fried, the FTX CEO and co-founder who was convicted of fraud and money laundering late last year, are seeking a new
Lawyers representing Sam Bankman-Fried, the FTX CEO and co-founder who was convicted of fraud and money laundering late last year, are seeking a new trial.
#sbf #ftx #crypto #crime #fraud
Following crypto exchange FTX’s collapse, Bankman-Fried was found guilty on all seven counts, then sentenced to 25 years in prison and ordered to pay $11 billion in forfeiture. He has been serving his sentence in Brooklyn.
Bloomberg reports that Bankman-Fried’s appeal focuses on the behavior of U.S. District Judge Lewis Kaplan, alleging that Kaplan’s rulings were “not just erroneous but unbalanced” and that the judge “continually ridiculed Bankman-Fried during trial, repeatedly criticized his demeanor, and signaled his disbelief of Bankman-Fried’s testimony.”
The appeal also claims that Kaplan “repeatedly mocked defense counsel” while helping the government make its case and that he “improperly prodded” jurors to reach a quick verdict.
Bankman-Fried’s lawyers are seeking a new trial under a new judge. The U.S. attorney’s office that prosecuted the case said it does not plan to comment on the filing.