A NEW York judge is being urged to return $143m seized by the US federal authorities to FTX’s Bahamian liquidators who have a “superior interest” to these assets.
John Ray, FTX’s US chief, and his Bahamian counterparts have partnered in petitioning Judge Lewis Kaplan to order that the cash and other assets be handed over to their combined liquidation estate so that they can finance investor recoveries and be paid out to victims of the failed crypto exchange.
The $143m, which was seized by the US Justice Department from two US banks in late 2022 within weeks of FTX’s collapse, is among assets being held by the federal authorities to help satisfy a mammoth $11.02bn forfeiture order and money judgment against Sam Bankman-Fried, the exchange’s disgraced founder who is now serving a 25-year jail term.
A NEW York judge is being urged to return $143m seized by the US federal authorities to FTX’s Bahamian liquidators who […]
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