Category: misappropriated

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FTX Sues SBF, Former Execs to Recover Over $1 Billion

July 22, 2023

Crypto exchange FTX is trying to regain $1 billion in a lawsuit against founder Sam Bankman-Fried (SBF) and some former executives. FTX’s new management argues the funds were misappropriated through dubious deals and transactions made before the coin trading platform went bankrupt last fall. Failed Crypto Firm FTX Files New Lawsuit Against Founders and Chiefs…
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FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy

May 18, 2023

When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value. FTX lawyers are suing former CEO Sam Bankman-Fried, co-founder Zixiao Wang, and former senior executive Nishad Singh over the $220 million acquisition of stock-clearing platform Embed, alleging lack of due…
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