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These claims began circulating after crypto specialists observed that digital accounts related to Alameda had been transferring funds. The motion of the cash was seen as a result of cryptocurrency transactions are recorded on a public ledger that anybody can entry and analyze.
In court docket, Ms. Sassoon stated that prosecutors had been investigating the transfers. “Whereas we don’t know whether or not it was the defendant who made these transfers, he did at one level have entry to those wallets,” she stated.
Mr. Cohen denied that Mr. Bankman-Fried had made the transfers.
Ms. Sassoon additionally alluded to a brewing jurisdictional battle between FTX’s new management, which is overseeing the chapter course of in the USA, and the federal government of the Bahamas. She stated that Mr. Bankman-Fried had helped international regulators acquire FTX belongings, and that he had expressed an intention to “stall” the U.S. chapter course of.
Since he licensed FTX to file for chapter on Nov. 11, Mr. Bankman-Fried has stated repeatedly that he regretted the choice. Whereas Ms. Sassoon was talking, the FTX founder seemed agitated, shaking his head and scribbling a observe to his lawyer. Mr. Cohen informed the decide that the switch to regulators that Ms. Sassoon was describing had been ordered by a court docket within the Bahamas.
Choose Kaplan was assigned per week in the past to preside in Mr. Bankman-Fried’s case after the unique decide, Ronnie Abrams, stated she was recusing herself as a result of the legislation agency Davis Polk & Wardwell, the place her husband is a associate, had carried out work for FTX in 2021. Though her husband was not concerned in that illustration, she stated, she was withdrawing to “keep away from any doable battle, or the looks of 1.”
Prosecutors have vowed to proceed investigating, and it’s doable extra executives in Mr. Bankman-Fried’s orbit could possibly be charged. On Tuesday, Damian Williams, the U.S. lawyer for the Southern District of New York, introduced the creation of a particular FTX job drive of prosecutors drawn from his workplace’s models that examine securities fraud; public corruption; and cash laundering and transnational crimes. The duty drive will likely be led by Andrea Griswold, the chief counsel to the U.S. lawyer.
Liset Cruz contributed reporting.
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