The court judge granted the petition to disclose the name of guarantors, behind the bail of FTX’s former CEO Sam Bankman-Fried (SBF).
Sam Bankman-Fried (SBF) is the former CEO & co-founder of the FTX exchange. Allegedly he misused the FTX customers’ fund for personal benefits for his other Crypto hedge company Alameda Research. In the first week of Nov 2022, FTX exchange went bankrupt and on 19 Nov FTX company filed for bankruptcy in a US bankruptcy court under the chapter 11 code.
At present, SBF is living with his parents on behalf of a $250 million bail bond. The bail bond was signed by his parents and other two anonymous people, which are unknown to the public.
Just a few weeks ago, on behalf of 8 news media, a few people from law firms submitted their request in the court to disclose the name of people, who were guarantors behind the FTX co-founder’s bond bail.
On 30 Jan 2023, United States District Judge Lewis Kaplan ruled that SBF’ bail backers names should be disclosed publicly.
But the court judge also confirmed that there is a due date for the SBF’s legal counsel to file a motion against this court ruling. If SBF lawyers will present a very strong point to keep the SBF guarantors’ name hidden then there will be very less chance to see any good news for FTX’s former customers, who lost their funds on the FTX exchange.
US authorities to ban SBF’s meeting
Just a few days ago, FTX bankruptcy lawyers filed a motion in the court to introduce some changes in the SBF’s $250 million bond bail.
The court documents revealed that SBF was meeting with current FTX bankruptcy case witnesses and also had a meeting with the current FTX’s American subsidiary FTXUS president.
FTX lawyers urged the court to ban any kind of online or offline communication of the FTX former CEO with any of the employee of the FTX & its affiliated companies.