US Requests Bahamas Consent to Continue FTX Bankman-Fried Post-extradition Charges

The Bahamas government’s response will determine whether to go on with or drop some of the cases. Sam Bankman-Fried was apprehended last year in the Bahamas and subsequently transferred to the United States. The allegations against him involve multiple charges relating to financial fraud and the collapse of FTX. Bankman-Fried is charged with engaging in … Read more

Temasek Executives behind FTX Stake See Compensation Reduced

According to Temasek, despite the absence of any misconduct, both its senior management team and investment body assumed collective accountability and accepted a reduction in their compensation. Executives of Singapore investment firm Temasek Holdings who oversaw the company’s investment in FTX will have their compensation slashed. According to reports, the firm ranked second among the … Read more

IRS Files Claim against FTX & Affiliates, Seeks $44B in Unpaid Taxes

In its claim, the IRS alleged that FTX, Alameda, and co failed to report transactions and activities for a sustained period.  The US Department of Treasury and Internal Revenue Service (IRS) has filed a $44 billion claim against FTX and its subsidiaries. In the documents, dated April 27th and 28th, the IRS alleged that the embattled crypto exchange … Read more

Former FTX CEO SBF Files Motion to Dismiss Fraud Charges

Meanwhile, the defunct FTX continues to pursue various options to recover customer funds. Former FTX CEO Sam Bankman-Fried has on Monday filed an ex parte motion before a Federal Court. The motion, as filed through the office, seeks to dismiss 10 out of 13 US charges against the former CEO. The remaining charges include conspiracy … Read more

FTX Officials Seek to Recover Over $3.88B from DCG-backed Genesis Global

The officials claim FTX-affiliated Alameda Research had largely repaid the $8 billion borrowed from Genesis Trading, a few weeks before the former filed for Chapter 11 bankruptcy protection. The bankrupt FTX and Alameda Research officials are stopping at nothing to recover lost funds by the former administration led by Sam Bankman-Fried (SBF). The crypto exchange … Read more