According to documents filed in court on Tuesday, Sam Bankman-Fried and his father Joseph, as well as Caroline Ellison, Gary Wang, and Nishad Singh were all served with subpoenas in connection with the FTX group bankruptcy.
On February 16, Joseph Bankman, Ellison, Wang, and Singh, or their agents, are required to hand up a variety of papers in response to the subpoenas issued by the court. The date for Bankman-Fried is February 17.
SBF pleas not guilty
According to Bloomberg, Bankman-Fried has entered a not-guilty plea in response to the claims that he engaged in fraudulent activity at the cryptocurrency exchange FTX for many years. One of the allegations against him is that he permitted the use of client cash for trading at an associated hedge fund called Alameda Research as well as for his own personal needs.
Both Ellison, the former chief executive officer of Alameda, and Wang, a co-founder of FTX, have acknowledged engaging in fraudulent activity and are currently collaborating with federal authorities. According to court documents and statements made by persons with knowledge of the situation, Singh, who managed engineering at FTX, has not been accused of wrongdoing and has cooperated with investigators.
More developments on the lawsuit
The subpoenas called for the production of a wide variety of documents, including those pertaining to an unsuccessful pre-bankruptcy takeover approach made by Binance, the biggest cryptocurrency exchange in the world, for FTX. It was demanded that there be communications between the upper management of FTX as well as documentation to back up tweets, some of which have now been removed.
As he waits for his trial to begin, Bankman-Fried is now out on bail and residing in Palo Alto, California, with his law professor’s parents.
