FTX Pursues $700M Clawback from Celebrity Connection Investment Firm
TL;DR Summary
FTX's new management is suing Michael Kives and his investment firm, K5, to retrieve $700 million allegedly misappropriated by disgraced crypto mogul Sam Bankman-Fried to buy influence. Bankman-Fried authorized the transfer of funds to Kives' K5 entities throughout 2022, according to the lawsuit. The payments were allegedly made through shell corporations. Bankman-Fried was charged with eight financial crimes and now faces 13, including conspiracy to commit wire fraud and conspiracy to defraud the United States and violate campaign finance laws.
- FTX Sues to Reclaim $700M Bankman-Fried Allegedly Spent on Celebrity Connections Decrypt
- Report: FTX Sues Investment Firm K5 Global to Claw Back $700 Million PYMNTS.com
- FTX Seeks $700 Million From Firm That Gave Bankman-Fried Celebrity Access Yahoo Finance
- FTX Sues Ex-Clinton Aide Over Huge Investment From Sam Bankman-Fried The Daily Beast
- FTX files suit against SBF's old pals in $700M clawback attempt Blockworks
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