• FTX Trading Ltd. and the bankruptcy case’s official creditors committee filed a motion to subpoena Sam Bankman-Fried, his parents, his brother, and a few of the former CEO’s top lieutenants for financial insight.
• The lawyers contend that specific insiders associated with Bankman-Fried’s dealings could provide much-needed insight into financial matters.
• Barbara Fried’s political action committee (PAC) Mind the Gap received funds from FTX according to the court filing.
FTX Trading Ltd. and the bankruptcy case’s official creditors committee have filed a motion in an attempt to gain insight into the financial dealings of FTX co-founder Sam Bankman-Fried, his family, and his inner circle. The joint motion seeks to question Bankman-Fried, his brother Gabriel Bankman-Fried, Joseph Bankman and Barbara Fried, his parents, as well as some of the former CEO’s top lieutenants. This includes FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief operating officer Constance Wang, and the exchange’s former director of engineering Nishad Singh.
The current FTX CEO, John J. Ray III, told Congress that Joseph Bankman and „the family certainly received payments“ from FTX. This has led the lawyers to believe that these specific insiders could provide much-needed insight into financial matters. The filing alleges that Fried’s political action committee (PAC) Mind the Gap received funds from FTX. Barbara Fried, however, „has ignored the requests altogether,“ the joint motion discloses. Bankman allegedly gave tax advice to FTX investors and is believed to have substantial knowledge of the company’s financial dealings.
The lawyers are seeking to gain access to information on the nature and extent of Bankman-Fried’s assets, any entities he owns or controls, and any other transactions he has been involved in or had knowledge of. The creditors committee is trying to determine if Bankman-Fried has assets that can be used to satisfy some of the company’s outstanding debts.
The motion has been filed in an attempt to gain a better understanding of the company’s financial dealings and to ensure that all creditors are paid in full. With the help of Bankman-Fried’s family and inner circle, the attorneys will be able to better assess the company’s financial situation and come to a resolution that is in the best interest of all parties involved.