FTX’s Bankman-Fried Hires Ghislaine Maxwell’s Defense Attorney

Unnamed sources claim that US authorities are probably looking for proof of substantial misrepresentations made to investors. To counter this, FTX’s Bankman-Fried hired Ghislaine Maxwell’s defense attorney.

FTX's Bankman-Fried Hires Ghislaine Maxwell's Defense Attorney

Sam Bankman-Fried, the founder and former CEO of FTX, has been playing the “simple jack” card in numerous interviews. At the DealBook conference the other week, he claimed, “I don’t personally think that I have [criminal liability],” but his most recent legal action implies otherwise.

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Reuters reported on Tuesday that SBF has retained white collar defense lawyer Mark S. Cohen to defend him as US authorities look into the collapse of SBF’s cryptocurrency exchange. Ghislaine Maxwell was recently represented by Cohen, a former assistant US attorney for the Eastern District of New York, in her sex trafficking prosecution.

Regulators from all over the world, including those in the Bahamas, where FTX is based, and the US, are investigating the company’s top executives at the time of its collapse. Following a liquidity crisis that saw about $1 billion of customer funds vanish, FTX filed for bankruptcy last month. To attempt to fill the hole before its collapse, FTX covertly transferred consumer funds to its subsidiary, Alameda Research.

David Mills, a professor of law at Stanford, is also consulting on the subject. Furthermore, SBF’s father, a Stanford professor, has apparently withdrawn from teaching an upcoming class in order to assist in his son’s defense.

Bankman-Fried had previously hired Martin Flumenbaum of law firm Paul, Weiss, Rifkind, Wharton & Garrison, but the law firm said last month it was no longer representing him due to conflicts.

In recent weeks, U.S. authorities have sought information from investors and potential investors in FTX, according to two sources with knowledge of the requests. Federal prosecutors in New York are asking for details on any communications such firms have had with the crypto firm and its executives, including Bankman-Fried, the sources said. Bloomberg previously reported the information requests.

The Securities and Exchange Commission has been asking for similar information from investors as well, one of the sources said.


Unnamed sources claim that US authorities are probably looking for proof of substantial misrepresentations made to investors.

“I didn’t ever try to commit fraud,” SBF claimed at the DealBook conference.

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  1. Lets see how many people have the balls to admit they were wrong when they find out he didn’t actually do anything bad.

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