FTX Co-Founder Accused of Delusion and Theft by New CEO

  • 📰 FoxBusiness
  • ⏱ Reading Time:
  • 20 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 53%
  • Publisher: 53%

Cryptocurrency News

FTX,Co-Founder,CEO

FTX co-founder and former CEO Sam Bankman-Fried is accused of living in delusion and stealing from customers, according to new CEO John Ray. Ray made the comments in a court filing ahead of Bankman-Fried's sentencing. The defense team had claimed that the bankruptcy of the cryptocurrency exchange was unnecessary.

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

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 458. in COİN

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.

FTX CEO blasts Sam Bankman-Fried for claiming fraud victims will not sufferThe chief executive of the cryptocurrency company Sam Bankman-Fried founded attacked the onetime crypto power player in a letter to a federal judge, saying his claim that customers, lenders and investors were not harmed was callously false. FTX Trading Limited CEO John J. Ray III told Judge Lewis A.
Source: AP - 🏆 728. / 51 Read more »

New FTX CEO says Sam Bankman-Fried 'living life of delusion' ahead of sentencingNew FTX CEO John Ray says his predecessor, Sam Bankman-Fried, is 'living a life of delusion' by claiming the bankruptcy of his cryptocurrency exchange was not necessary.
Source: FoxBusiness - 🏆 458. / 53 Read more »