L'auteur de "Moneyball" et "The Big Short" travaillera sur un livre sur FTX et son fondateur, Sam Bankman-Fried.

FTX poursuit Bankman-Fried pour un contrat de $220 millions

  • Bankman-Fried and former executives at FTX paid little attention to records and due diligence, which led to the company’s collapse.
  • Le procès vise à récupérer $236,8 millions auprès des dirigeants de Giles et Embed. 

La plate-forme de trading de crypto en faillite FTX poursuit son ancien PDG Sam Bankman-Fried, le co-fondateur Zixiao Wang et l'ancien dirigeant Nishad Singh pour récupérer les plus de $220 millions qu'elle a dépensés pour acquérir la plate-forme de trading d'actions Embed. Le procès prétend que d'anciens dirigeants n'ont fait preuve d'aucune diligence raisonnable avant d'acheter la plate-forme logicielle largement inefficace et boguée.

Les trois procès, which were filed on Wednesday in U.S. Bankruptcy Court in Delaware, also targeted some Embed executives, such as founder Michael Giles, and some shareholders. FTX’s leadership accused Bankman-Fried and other executives of misappropriating the exchange’s funds for their acquisition. The lawsuit claims that Bankman-Fried and other insiders took “advantage of the FTX Group’s lack of controls and recordkeeping to perpetrate a massive fraud.”

FTX lawyers claimed the former leadership concluded the purchase despite knowing that the exchange was insolvent at the time. The lawyers additionally stated that FTX insiders created false records to hide Alameda Research’s contribution to financing the Embed purchase, alleging that funds had been exchanged between both companies rather than from Bankman-Fried, Singh, and Wang as had been represented.

Since filing for bankruptcy in November, FTX’s new leadership has been working to recover assets to pay back customers. Interestingly, U.S. law permits débiteurs récupérer les paiements effectués dans des conditions spécifiques avant le dépôt de bilan et utiliser ces fonds pour régler les créanciers.

FTX’s downfall wiped off billions of customer funds. As part of its plans to raise funds, FTX attempted to sell Embed. However, Giles made the highest offer, a meager $1 million. FTX lawyers claimed that the bid shows that the funds used to purchase Embed were “wildly inflated relative to the company’s fair value, which Giles well knew.” FTX’s lawyers claimed that Giles had “personally received approximately $157 million in connection with the acquisition.”

“The bidders had figured out what the FTX Group and FTX Insiders did not bother to assess prior to the Embed acquisition, namely, that Embed’s vaunted software platform was essentially worthless,” FTX lawyers wrote in the lawsuit.

The lawsuit claimed that insiders at Embed expressed disbelief that FTX spent so much for their company after a brief meeting with Giles and were shocked at the exchange’s hasty approach to the deal.

Laurent Woriji
Laurent Woriji Auteur vérifié

J'ai couvert des histoires passionnantes dans ma carrière de journaliste et je trouve les histoires liées à la blockchain très intrigantes. Je crois que Web3 va changer le monde et je veux que tout le monde en fasse partie.

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