Bankman-Fried

Bankrupt cryptocurrency exchange FTX sued one of its former top lawyers, accusing him of aiding fraud by company founder Sam Bankman-Fried and silencing whistleblowers who reported wrongdoing at the company.The complaint, filed on Tuesday in US Bankruptcy Court in Delaware, describes Daniel Friedberg, a former chief compliance officer at FTX and general counsel of its related crypto hedge fund Alameda Research, as a "fixer" for Bankman-Fried and other FTX executives who enabled the "wholesale raiding" of customer funds.…

Sam Bankman-Fried, the former founder of collapsed cryptocurrency exchange FTX, has now been charged with bribing Chinese officials to the tune of $40 million.The US Department of Justice has alleged that Bankman-Fried "authorised and directed a bribe of at least $40 million to one or more Chinese government officials".According to The Verge, the bribe by Bankman-Fried was an attempt to get Chinese officials to "unfreeze" some of the accounts associated with FTX's sister firm, Alameda, which contained over $1 billion in…

Bankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through related entities, the company's new management said. Overall more than $3.2 billion was transferred through payments and loans to company founders and key employees, FTX said in a statement on Wednesday. These payments were made chiefly from Alameda Research hedge fund, FTX said, adding that it made these disclosures by filing schedules and statements of financial affairs with the bankruptcy court. The…

Sam Bankman-Fried should be allowed while on bail to have a flip phone with no internet capability and a basic laptop with limited functions, but be forbidden from using other electronic communication devices, the U.S. Department of Justice said.The proposal to limit the indicted FTX cryptocurrency exchange founder's communications was filed late on Friday in Manhattan federal court, on behalf of the government and Bankman-Fried's defense team.It requires approval by U.S. District Judge Lewis Kaplan, who oversees the…

Sam Bankman-Fried, far left, was last in court Feb. 9. Prosecutors were concerned the failed FTX founder has been trying to communicate with encrypted messaging apps like Signal.Photo: Michael M. Santiago (Getty Images)Federal prosecutors are squinting pretty hard, trying to keep an eye on what the failed FTX founder Sam Bankman-Fried has been doing while he’s been ordered by the court to live under his parents’ roof. The young crypto founder has reportedly been accessing the internet using a VPN, and the U.S. Attorneys…

Lawyers for Sam Bankman-Fried on Saturday urged a U.S. judge not to ban the indicted FTX cryptocurrency executive from communicating with former colleagues as part of his bail, saying prosecutors "sandbagged" the process to put their client in the "worst possible light."The lawyers were responding to a Friday night request by federal prosecutors that Bankman-Fried not be allowed to talk with most employees of FTX or his Alameda Research hedge fund without lawyers present, or use the encrypted messaging apps Signal or…

Sam Bankman-Fried has been charged with eight counts of fraud and conspiracy for using FTX customer funds as a personal piggy bank with his hedge fund Alameda Research.Photo: Michael M. Santiago (Getty Images)Failed co-founder and CEO of the FTX crypto exchange Sam Bankman-Fried reportedly has a few layers of security while he’s at home waiting for trial, including security guards and a 75-pound German shepherd. Though since his address is easily Googleable, angry former fans still seem intent on paying the once-crypto…

The US government plans to launch a website for victims of FTX cryptocurrency exchange founder Sam Bankman-Fried's alleged fraud to communicate with law enforcement. In court papers filed on Friday, federal prosecutors in Manhattan asked U.S. District Judge Lewis Kaplan for permission to use the website to notify victims, rather than contacting each individually. FTX could owe money to more than 1 million people, making it "impracticable" to contact each, the papers said. Federal law requires prosecutors to contact…

FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried on Tuesday, seeking a declaration that the company's holdings of digital assets belong to customers. The lawsuit is the latest legal effort to lay claim to the dwindling assets of FTX, which is already feuding with liquidators in the Bahamas and Antigua as well as the bankruptcy estate of Blockfi, another failed crypto company. FTX pledged to segregate customer accounts and instead…

Sam Bankman-Fried was released on a $250 million bond package on Thursday while he awaits trial on fraud charges related to the collapse of the FTX crypto exchange. Federal prosecutors in Manhattan have accused him of stealing billions of dollars in FTX customer funds to plug losses at his hedge fund, Alameda Research. Bankman-Fried was not asked to enter a plea on Thursday. He has previously acknowledged risk-management failures at FTX, but has said he does not believe he has criminal liability. His defense lawyer, Mark…