The founder and former CEO of bankrupt crypto exchange FTX, Sam Bankman-Fried (SBF), as well as his father Joseph Bankman and former company executives, were subpoenaed and required to produce various documents as part of the bankruptcy proceedings in course.
FTX debtors request various documents from SBF and associates
He summons noticewhich was addressed to SBF, his father Joseph Bankman, Gary Wang, Caroline Ellison and Nishad Singh, was filed with the United States Bankruptcy Court for the District of Delaware on February 14, 2023.
According to the filing, FTX’s trade debtors requested all of the named individuals or their representatives to produce various documents related to the company’s activities.
The debtors are seeking documents on SBF’s decision to step down as CEO and appoint John Ray as replacement, the impact of the collapse of Terra USD and LUNA on FTX, among many others.
The subpoena also requested documents regarding Binance’s potential purchase of FTX, which fell through, along with any investment or divestment from FTX.
While Joseph Bankman, Wang, Ellison, and Singh are expected to submit the specifically requested documents on Feb. 16, the founder of the crypto exchange will submit the required documents on Feb. 17. The latest development comes shortly after FTX received court approval to subpoena SBF and other members of the firm.
Following the fall of FTX, which cost investors billions of dollars and the company’s subsequent bankruptcy filing in November 2022, SBF has been the subject of a series of criminal charges.
However, the former CEO continues to plead not guilty, while his other associates have pleaded guilty to fraud charges and are cooperating with prosecutors.
