According to the FTX chapter case court docket paperwork, the corporate’s legal counsel are looking to subpoena FTX founder Sam Bankman-Fried and his brother Gabriel Bankman-Fried alongside their mother, father, and siblings. Joseph Bankman and Barbara Fried. The attorneys will also question a few of Bankman-Fried’s principal representatives including FTX cofounder Gary Wang, former Alameda Research CEO Caroline Ellison, former COO Constance Wang, and ex-CEO of inventory engineering Nishad Singh.
FTX lawyers seek to subpoena associates, co-founders, mother, father, and brother
Lawyers from FTX Trading Ltd. and the official committee for collectors within the chapter matter filed a movement that aims at questioning Sam Bankman-Fried (SBF), his mother, father, brother and one of the ex-CEO’s highest lieutenants. The Lawyers contend that insiders have a special connection to the Bankman-Fried and may provide valuable information on monetary issues.
“Certain insiders are currently cooperating with debtors to provide important information. But others are not and, therefore, the authorization to issue subpoenas to those who have the missing data is essential for the recovery efforts of the debtors and the committee,” details of the joint movement read.
The current CEO of FTX, John J. Ray III. informed Congress that Joseph Bankman and “the family certainly received payments” from FTX. Bankman and Barbara Fried have not been charged with any wrongdoing. However, the most recent court docket submitted claims that they had each had association with the corporation. The filing allegations Fried’s Political action committee (PAC), Mind The Gap, was funded by FTX. Barbara Fried “has completely ignored the requests,” the joint motion reveals. Bankman allegedly made tax recommendations to employees, and was concerned with linking FTX to the first litigation agency of the corporation, the court docket submitting explains.
“Experts are best positioned to help” FTX attorneys insist in the latest filing in the case. The document states the attorney’s desire to question Gabriel Bankman-Fried, SBF’s brother. The presentation mentions Bankman-Fried’s brother’s non-profit group, Guarding Against Pandemics. It also references alleged political lobbying which allegedly occurred close to the US Capitol and a “multi-million dollar property,” which “debtors believe was purchased with embezzled client funds.” In addition to Bankman-Fried’s brother, the application names Constance Wang, Caroline Ellison, Gary Wang, and Nishad Singh.
US Bankruptcy Court Judge, in the District of Delaware, John Dorsey, should approve subpoena requests for SBF and its members. Bankman-Fried was indicted by a federal grand jury in Manhattan for charges of “conspiracy to commit wire fraud, wire fraud, conspiracy to commit commodity fraud, conspiracy to commit securities fraud, conspiracy to commit money laundering, and conspiracy to defraud the Federal Election Commission and commit campaign finance violations.” SBF is currently waiting for trial on charges October 3, 2023.
“The debtors have received no significant commitment or any response from Singh or Mr. Gabriel Bankman-Fried,” the filing was completed by FTX’s lawyers.
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