FTX founder Sam Bankman-Fried attempted to stall bankruptcy proceedings in the U.S. in order to transfer assets from his crypto exchange to foreign regulators, the Justice Department alleged
FTX founder Sam Bankman-Fried attempted to stall bankruptcy proceedings in the U.S. in November in order to transfer assets from his crypto exchange to foreign regulators, the Justice Department alleged in a filing Monday.
Mr. Bankman-Fried hoped foreign regulators would treat him leniently and eventually allow him to regain control of FTX, according to federal prosecutors. FTX’s lawyers wanted to secure the assets for bankruptcy at the time he was trying to move the money, the prosecutors said.
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