Former FTX executives rushed to appoint attorneys not to be get convicted in US FTX case
Former FTX executives rushed to appoint attorneys not to be get convicted in US FTX case

Former FTX executives appointing defence attorneys for FTX case

The former CEO of the cryptocurrency exchange platform FTX Sam Bankman-Fried along with Caroline Ellison who was the CEO of the sister company of FTX that is Almeda Research has Been taping for the defense attorney generals in the US. these former executives of FTX are undergoing bankruptcy protection proceedings in the US after the fall of the cryptocurrency exchange platform FTX. 

Which defense executives are appointed by the former FTX executives?

The former CEO of FTX has retained law firm Cohen & Gresser’s Mark S. Cohen as their defense attorney in the case. Cohen had been recently working on the defense side for the Ghislaine Maxwell sex trafficking trial in the Eastern District of New York case.

Before Cohen Sam Bankman had hired Martin Flumenbaum of law firm Paul, Weiss, Rifkind, Wharton & Garrison Hardev gift bankruptcy proceedings. but the firm last month mentioned that they are no longer working on the FTX case. The Spokesperson of Sam Bankman Mark Botnick Mentioned these details through an email to a news platform.

Former FTX executives rushed to appoint attorneys not to be get convicted in US FTX case
source : financialtimes.com

Along with Sam Bankman, the other top executive of FTX group and the CEO of Almeda research carolin Elison has also hired defense attorneys from Wilmer Cutler Pickering Hale and Dorr which is a Washington-based law firm. A person familiar with the issue mentioned these issues in detail to a news platform Reuters. The regulators in the US are working on bankruptcy protection proceedings against the Bahamas-based cryptocurrency exchange platform FTX after its collapse last month which created havoc in the Crypto market.

Along with the regulators of the US, regulators around the globe are having investigations into the collapse of cryptocurrency exchange platforms FTX. The collapse of the cryptocurrency exchange platform FTX caused a huge amount of disturbances is into the Crypto market as FTX was considered one of the biggest currency exchanges in the world.

FTX platform collapsed last month after it was having a liquidity crunch in its operation for approximately $1 billion. During the liquidity crunch solution, the platform was not able to work upon the withdrawal request of its users which resulted in the collapse of the cryptocurrency exchange platform FTX.

As per the present status of bankruptcy protection proceedings in the US, the prosecutors and regulators in the US have not charged the former executives Sam Bankman and Ellison with criminal proceedings in the case of FTX but these executives are facing Civil lawsuits in the US. A Professor at Stanford Law School David Mills is also working on the consultation part with Sam Bankman During the US bankruptcy protection proceedings.