The lawsuit alleges former FTX CEO Sam Bankman-Fried directed investments in the crypto mining company, funds the exchange’s trust wants returned.
The entity responsible for handling cryptocurrency exchange FTX’s bankruptcy filed a lawsuit seeking to recover more than $1 billion in funds spent by its former CEO, Sam “SBF” Bankman-Fried.
In a Monday filing in the US Bankruptcy Court for the District of Delaware, the FTX Recovery Trust filed a complaint against crypto mining company Genesis Digital Assets (GDA), its affiliates and two of its co-founders as part of its efforts to recover $1.15 billion of “commingled and misappropriated funds.”
According to the filing, the funds were directly tied to Bankman-Fried’s “fraud on customers and other creditors” at FTX in 2021 and 2022.
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