FTX co-founder and former chief executive Sam Bankman-Fried is not living in reality with his claims that the bankruptcy of his cryptocurrency exchange was not necessary and that he did not steal from customers, new CEO John Ray said Wednesday. "Mr. Bankman-Fried continues to live a life of delusion," Ray wrote in a Manhattan federal court filing ahead of the former billionaire's sentencing set for next week.
"There should be no delusion that because assets have increased in value or that the professionals have been able to recover funds and assets taken or stolen from the estate, that there was no need for the Chapter 11 cases." Ray made the comments in a victim response statement after a filing from Bankman-Fried's defense team the day before, when the attorneys requested U.S
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: FoxBusiness - 🏆 458. / 53 Read more »