Revenue Agenda
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy
No Result
View All Result
Revenue Agenda
No Result
View All Result
Home Editor's Pick

FTX lawyers accuse Sam Bankman-Fried of financing his criminal defense with $10M in misappropriated funds

by
July 25, 2023
in Editor's Pick
0
FTX lawyers accuse Sam Bankman-Fried of financing his criminal defense with $10M in misappropriated funds
0
SHARES
4
VIEWS
Share on FacebookShare on Twitter

Sam Bankman-Fried, co-founder of failed crypto exchange FTX, was sued in Delaware bankruptcy court on Thursday by his ex-company’s lawyers, who accuse him and members of his leadership team of stealing hundreds of millions of dollars.

The lawyers are seeking to recover funds from Bankman-Fried and former executives of FTX and sister hedge fund Alameda Research. One way the attorneys for the bankrupt exchange say Bankman-Fried pilfered money was through a $10 million gift to his father, distinguished legal scholar Joe Bankman.

Much of that $10 million gift was routed from FTX to Bankman-Fried’s Morgan Stanley and TD Ameritrade accounts around January 2022, the lawsuit alleges. The complaint claims those proceeds are now paying for Bankman-Fried’s criminal defense bills.

A representative for Bankman-Fried declined to comment.

Bankman-Fried was indicted on fraud and bribery charges as well as campaign finance violations after FTX filed for bankruptcy late last year. His exchange, once valued at $32 billion, collapsed almost overnight after liquidity dried up and customers demanded withdrawals that the company couldn’t meet.

Bankman-Fried pleaded not guilty. His trial is expected to begin later this year.

Lawyers for FTX have been in search of the company’s remaining assets in an effort to recover as much money as possible for creditors.

More from CNBC

Federal Reserve officially launches new FedNow instant-payments service Why Tesla investors should care about Elon Musk’s multiplying ventures These non-tech stocks are ‘back from the dead.’ Here’s where we stand

FTX and Alameda executives Caroline Ellison, Gary Wang, and Nishad Singh are co-defendants in the case, alongside Bankman-Fried.

This post appeared first on NBC NEWS
Previous Post

IRS stops unannounced in-person visits, citing safety concerns for taxpayers and employees

Next Post

Biden wrestles with Israel’s defiant turn to the right

Next Post
Biden wrestles with Israel’s defiant turn to the right

Biden wrestles with Israel’s defiant turn to the right

  • Trending
  • Comments
  • Latest
Top 10 Potash Countries by Production (Updated 2024)

Top 10 Potash Countries by Production (Updated 2024)

August 21, 2024
Top 10 Phosphate Countries by Production (Updated 2024)

Top 10 Phosphate Countries by Production (Updated 2024)

August 1, 2024
Top 10 Uranium-producing Countries (Updated 2024)

Top 10 Uranium-producing Countries (Updated 2024)

November 6, 2024
7 Biggest Lithium-mining Companies in 2024

7 Biggest Lithium-mining Companies in 2024

September 18, 2024
Eric Sprott Announces Securities of Summa Silver Corp.

Eric Sprott Announces Securities of Summa Silver Corp.

0
New Hampshire Gov. Sununu signs $15.2B ‘miracle’ budget into law

New Hampshire Gov. Sununu signs $15.2B ‘miracle’ budget into law

0

Pennsylvania House clears tax credits for new teachers, nurses, police officers

0
Evers signs bipartisan sales tax bill aimed at sparing Milwaukee from bankruptcy

Evers signs bipartisan sales tax bill aimed at sparing Milwaukee from bankruptcy

0
Eric Sprott Announces Securities of Summa Silver Corp.

Eric Sprott Announces Securities of Summa Silver Corp.

August 2, 2025
Crypto Market Update: Coinbase Misses Q2 Revenue Target, Tariff Headwinds Grow

Crypto Market Update: Coinbase Misses Q2 Revenue Target, Tariff Headwinds Grow

August 2, 2025
Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

August 2, 2025
Silver Crown Provides Corporate Update

Silver Crown Provides Corporate Update

August 2, 2025
Enter Your Information Below To Receive Trading Ideas and Latest News

Error: Contact form not found.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Recent News

Eric Sprott Announces Securities of Summa Silver Corp.

Eric Sprott Announces Securities of Summa Silver Corp.

August 2, 2025
Crypto Market Update: Coinbase Misses Q2 Revenue Target, Tariff Headwinds Grow

Crypto Market Update: Coinbase Misses Q2 Revenue Target, Tariff Headwinds Grow

August 2, 2025
Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

Albemarle Swings to Profit, Lowers Spending Amid Prolonged Lithium Slump

August 2, 2025
Silver Crown Provides Corporate Update

Silver Crown Provides Corporate Update

August 2, 2025
  • About us
  • Privacy Policy
  • Terms & Conditions
  • About us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 revenueagenda.com | All Rights Reserved

No Result
View All Result
  • Investing
  • Latest News
  • Editor’s Pick
  • Economy

Copyright © 2025 revenueagenda.com | All Rights Reserved