{"id":125307,"date":"2023-07-21T00:28:59","date_gmt":"2023-07-21T00:28:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/ftx-sues-sam-bankman-fried-and-other-former-execs-to-claw-back-1b-crypto-news\/"},"modified":"2023-07-21T00:29:03","modified_gmt":"2023-07-21T00:29:03","slug":"ftx-sues-sam-bankman-fried-and-other-former-execs-to-claw-back-1b-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ftx-sues-sam-bankman-fried-and-other-former-execs-to-claw-back-1b-crypto-news\/","title":{"rendered":"FTX sues Sam Bankman-Fried and other former execs to claw back $1B\n &#8211; Crypto News"},"content":{"rendered":"<div data-v-2649fa34=\"\">\n<p>FTX has sued former CEO Sam Bankman-Fried and several other former key executives from the now-bankrupt crypto exchange to recover more than $1 billion in misappropriated funds. <\/p>\n<p>A July 20 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/restructuring.ra.kroll.com\/FTX\/Home-DownloadPDF?id1=MTY1NzA5Mg==&#038;id2=-1\">complaints<\/a> filed in a United States Bankruptcy Court named former Alameda Research CEO Caroline Ellison, FTX co-founder Zixiao &#8220;Gary&#8221; Wang, former FTX engineering director Nishad Singh and Bankman-Fried as defendants. <\/p>\n<p>In the lawsuit, FTX claimed the defendants breached their fiduciary duties by allegedly misappropriating customer funds on a &#8220;continuous basis to finance luxury condominiums, political and &#8216;charitable&#8217; contributions, speculative investments and other pet projects.&#8221;<\/p>\n<p>Additionally, the lawsuit alleged the former executives &#8220;abused their control&#8221; over FTX and its related companies to commit &#8220;one of the largest financial frauds in history.&#8221;<\/p>\n<p class=\"post-content__disclaimer\">This is a developing story, and further information will be added as it becomes available.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"\/><\/div>\n","protected":false},"excerpt":{"rendered":"<p>FTX has sued former CEO Sam Bankman-Fried and several other former key executives from the now-bankrupt crypto exchange to recover more than $1 billion in misappropriated funds. A July 20 complaints filed in a United States Bankruptcy Court named former Alameda Research CEO Caroline Ellison, FTX co-founder Zixiao &#8220;Gary&#8221; Wang, former FTX engineering director Nishad [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":125308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-125307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=125307"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125307\/revisions"}],"predecessor-version":[{"id":125309,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125307\/revisions\/125309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/125308"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=125307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=125307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=125307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}