Home » Former FTX CEO Sam Bankman-Fried’s Attempt to Meet with Current CEO John Ray Revealed

Former FTX CEO Sam Bankman-Fried’s Attempt to Meet with Current CEO John Ray Revealed

by Natalie Christie

Sam Bankman-Fried, the former CEO of FTX, was recently charged with fraud. According to emails filed by Federal prosecutors on Monday, Bankman-Fried had attempted to organize an in-person meeting with the current CEO, John Ray, weeks after the charges were filed. He had asked Ray whether his team was responsible for draining assets from Alameda Research, which he had read about in a media article. Bankman-Fried had also contacted FTX US’s general counsel earlier this month, which the government saw as an attempt to sway potential witness testimony. Bankman-Fried’s lawyer stated that it was merely an innocuous attempt to assist with the bankruptcy process. Bankman-Fried had previously spoken critically of Ray and the law firm Sullivan and Cromwell for trying to extort as many fees from the bankruptcy process as possible. A mysterious hacker had drained $500 million from FTX shortly after the company filed for bankruptcy in November, though their identity remains a mystery. Ray has previously stated that Bankman-Fried is yet to give him any details on the bankruptcy that he doesn’t already know.

Sam Bankman-Fried, the former CEO of FTX, had been charged with fraud in November. Following the charges, Bankman-Fried had tried to organize an in-person meeting with the current CEO, John Ray, in order to be helpful to the asset recovery process. Emails filed by Federal prosecutors on Monday had revealed that Bankman-Fried had asked Ray whether his team was responsible for draining assets from Alameda Research, which he had read about in a media article. He had also contacted FTX US’s general counsel earlier this month, which the government saw as an attempt to sway potential witness testimony. Bankman-Fried’s lawyer had clarified that it was merely an innocuous attempt to assist with the bankruptcy process.

Before the charges were filed, Bankman-Fried had spoken critically of Ray and the law firm Sullivan and Cromwell for trying to extort as many fees from the bankruptcy process as possible. A mysterious hacker had also drained $500 million from FTX shortly after the company filed for bankruptcy in November, though their identity remains a mystery. Ray had previously stated that Bankman-Fried is yet to give him any details on the bankruptcy that he doesn’t already know.

It is yet to be seen how Bankman-Fried’s attempts to meet with Ray and his team will affect the asset recovery process. It is also unclear if Bankman-Fried’s attempts to contact FTX US’s general counsel will have any bearing on the case. Regardless, Bankman-Fried’s actions have raised questions about his involvement in the bankruptcy process and the mysterious hacker who had drained $500 million from FTX.

 

 

 

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