Summary:
- FTX Founder Sam Bankman-Fried was subpoenaed along with other company execs like former Alameda CEO Caroline Ellison and ex-engineering chief Nishad Singh.
- Bankman-Fried’s father was also served a court notice over real estate properties in the Bahamas where the bankruptcy crypto exchange was domiciled.
- The served parties have until February 16 and February 17 to submit the requested documents, per the court filing.
FTX Founder Sam Bankman-Fried was subpoenaed along with other company execs like former Alameda CEO Caroline Ellison and ex-engineering chief Nishad Singh. The top-ranking execs and insiders were served as the bankruptcy team led by CEO John Ray III hopes to understand the financial dealings within SBF’s sunken crypto empire.&
The court issued specific documents for each subpoenaed party to turn over. In the case of Nishad Singh who led engineering efforts at FTX, the notice asked for records on the crypto exchange’s liquidation engine. Prosecutors and regulators alleged that Singh, on the orders of SBF, excluded Alameda Research from liquidation protocols on the platform.&
Singh was reportedly involved in a proffer session with prosecutors from the Southern District of New York (SDNY) as part of a potential plea deal.
SBF’s father Joseph Bankman was also served a court notice. Bankman was asked to turn over documents concerning real estate in the Bahamas. CNBC reports alleged that FTX bought a $16.4 million property in the Bahamas for Bankman and his wife, Barbara Fried.&
FTX Founder Probed Over Emergent Fidelity Technologies
Disgraced Founder Sam Bankman-Fried was given perhaps the most comprehensive list of records to provide. SBF’s subpoena demanded all company and personal communication on FTX’s sister firm Alamada and the crypto exchange itself.&
Bankman-Fried was also asked to submit documents on Emergent Fidelity Technologies, a holding company leveraged for purchasing around $600 million in Robinhood shares back in May 2022.
SBF told a court in Antigua that he and former CTO Gary Wang used loans from Alameda to buy Robinhood stock via Emergent.
According to the court summons, the parties have until February 16 to turn over the requested documents. However, Bankman-Fried will have until February 17 due to the weight of records he is expected to produce.&
Civil Cases Against SBF Deferred Till After Criminal Trial
U.S. Judge John T. Dorsey ruled in favor of focusing on the criminal charges levied against Bankman-Fried. The court ruling came after U.S. Attorney Damian Williams of the SDNY argued for the criminal case to take priority.&
Williams noted that the criminal trial will address overlapping charges from the Justice Department, CFTC, and SEC cases while also optimizing state resources.
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