Sam Bankman-Fried, the disgraced founder of now-defunct cryptocurrency exchange FTX, has requested a meeting with new FTX CEO John Ray.
On January 2, Bankman-Fried wrote an email letter to Ray, a bankruptcy specialist who took over the exchange after it filed for bankruptcy last November, asking for funds or “something else,” according to Bloomberg. His help was offered in this regard. Reported monday. He said in the email:
“I know things haven’t gotten off on the right foot, but I really want to be helpful — whether it’s on the fund or something else.”
The move came just a day before the infamous crypto boss pleaded not guilty for cheating and other charges.
Significantly, Ray has already done it rained heavily For the complete lack of financial and other record-keeping in SBF and former FTX management, which made it difficult to trace the funds. Last year, he said that FTX collapsed due to the “concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals”.
As Reported, the SBF is trying to contact and influence some potential witnesses at its trial via the encrypted messaging software Signal. Last week, federal prosecutors said it has “reached out to the current General Counsel of FTX US who may be a witness in the trial.” The current council for FTX US is Raine Miller, also a former partner at Kirkland & Ellis.
The filing states that in addition to Miller, the SBF has also been in contact with “other current and former FTX employees.” US officials claim that the SBF’s request suggests an attempt to influence witness testimony, and that his attempt to repair his relationship with Miller “may itself constitute witness tampering.”
The US Department of Justice has also opposed FTX hiring Sullivan & Cromwell, the law firm currently tasked with investigating the exchange, citing a potential conflict of interest. That’s because Miller, FTX US general counsel, previously worked at S&C for eight years. The DOJ said the investigation would place the law firm “in the conflicting position of investigating itself and its former partner.”
FTX and its group of crypto companies filed for Chapter 11 bankruptcy In early November. Sam Bankman-Fried, disgraced founder of FTX, was arrested later after criminal charges were formally filed against him by US prosecutors in the Bahamas. He was eventually extradited to the US where he was later released from prison. posting a $250m bond in a New York court.
SBF has been charged with eight criminal charges, including conspiracy to commit wire fraud and misappropriation of customer funds. He is due in federal court in October.
