FTX Management Sues Sam Bankman-Fried Over $220 Million Deal Made Earlier than Chapter

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FTX attorneys accuse former CEO Sam Bankman-Fried, co-founder Zhixiao Wang, and Zhixiao Wang of the agency of failing to conduct due diligence in its $220 million acquisition of equity-clearing platform Embed. It’s suing former senior govt Nishad Singh.

in line with FTX paid $220 million for the Could 17 submitting. Acquired Embed by way of a US subsidiary As a result of it allegedly “did little or no due diligence” on the platform.

Screenshots of the filings present a visualization of the cash move, in line with FTX attorneys.Supply: Kroll

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