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FTX Pursues $700M Clawback from Celebrity Connection Investment Firm

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Source: Decrypt
FTX Pursues $700M Clawback from Celebrity Connection Investment Firm
Photo: Decrypt
TL;DR

FTX's new management is suing Michael Kives and his investment firm, K5, to retrieve $700 million allegedly misappropriated by disgraced crypto mogul Sam Bankman-Fried to buy influence. Bankman-Fried authorized the transfer of funds to Kives' K5 entities throughout 2022, according to the lawsuit. The payments were allegedly made through shell corporations. Bankman-Fried was charged with eight financial crimes and now faces 13, including conspiracy to commit wire fraud and conspiracy to defraud the United States and violate campaign finance laws.

Topics:businesscryptocurrency#cryptocurrency#ftx#lawsuit#michael-kives#misappropriated-funds#sam-bankman-fried
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  1. FTX Sues to Reclaim $700M Bankman-Fried Allegedly Spent on Celebrity Connections  Decrypt
  2. Report: FTX Sues Investment Firm K5 Global to Claw Back $700 Million  PYMNTS.com
  3. FTX Seeks $700 Million From Firm That Gave Bankman-Fried Celebrity Access  Yahoo Finance
  4. FTX Sues Ex-Clinton Aide Over Huge Investment From Sam Bankman-Fried  The Daily Beast
  5. FTX files suit against SBF's old pals in $700M clawback attempt  Blockworks

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