Bankman-Fried, Ellison tap attorneys as FTX probes ramp up

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FTX founder and former chief executive Sam Bankman-Fried and Caroline Ellison, head of its now-defunct trading affiliate, have tapped defense attorneys as U.S. authorities probe the crypto exchange's collapse, according to a spokesperson for Bankman-Fried and a source familiar with Ellison's selection.

Prosecutors and regulators have not charged Bankman-Fried or Ellison with a crime. They face civil lawsuits from FTX customers.

Cohen, a former assistant United States attorney for the Eastern District of New York, recently defended Ghislaine Maxwell in her sex trafficking trial. Those sources and attorneys, speaking on condition of anonymity, have said that U.S. authorities are likely looking for any evidence of material misrepresentations of information to investors.

 

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