Law Firm Subpoenas FTX Co-Founder, Top Executives, and Former Alameda CEO Over Voyager Digital Deal

On Feb. 6, 2023, instrumentality steadfast Kirkland & Ellis issued a subpoena to FTX co-founder Sam Bankman-Fried and apical executives connected behalf of Voyager Digital. The subpoena requested they nutrient documents and communications related to the “Alameda Loan Agreement” betwixt Alameda Ventures and Voyager, arsenic good arsenic different important documents. Additionally, Voyager Digital has subpoenaed erstwhile Alameda Research CEO Caroline Ellison, FTX co-founder Gary Wang, and erstwhile FTX caput of merchandise and capitalist relations Ramnik Arora.

Law Firm Kirkland & Ellis Requests Documentation for Proposed FTX-Voyager Deal

Kirkland & Ellis, the instrumentality steadfast representing the now-bankrupt crypto lender Voyager Digital, has sent a subpoena to erstwhile FTX and Alameda unit including Sam Bankman-Fried, Caroline Ellison, Gary Wang, and Ramnik Arora. The lawyers are requesting that the parties nutrient each documentation and communications associated with the Voyager woody betwixt Alameda Ventures and West Realm Shire Inc., besides known arsenic FTX.

Prior to FTX’s collapse, FTX and Bankman-Fried insisted that the crypto speech would assistance Voyager’s customers get liquidity successful July 2022. Bankman-Fried tweeted that helium was “happy to bash what we tin to get liquidity to Voyager’s customers” and published a press release connected PR Newswire detailing however FTX would assistance the insolvent crypto firm. After the connection from Bankman-Fried and FTX, reports emerged that FTX would acquisition Voyager and its assets for $1.4 billion.

However, connected October 14, 2022, the Texas State Securities Board (SSB), the Texas Department of Banking, and the Texas lawyer wide objected to FTX’s imaginable purchase. The Texas securities commissioner stated that an probe into FTX was needed earlier the woody could beryllium completed. FTX was nether probe for not being registered arsenic a wealth transmitter oregon successful immoderate different capableness with the Texas Department of Banking, and besides not registered arsenic a securities trader successful the state. Kirkland & Ellis is hoping to get each the documents and communications that the subpoenaed individuals whitethorn person regarding the projected FTX/Voyager deal.

The lawyers privation each documents associated with the Department of Justice fraud case and the Securities and Exchange Commission (SEC) lawsuit arsenic well. The filing mentions documents related to the “Ellison Admissions” and the “Wang Admissions.” Attorneys for Voyager are seeking documentation associated with FTX’s caller CEO, John J. Ray III, and his statements. The lawyers besides authorities that they volition request “text messages, Slack messages, Telegram and Signal messages” betwixt immoderate of the aforementioned parties. The filing besides references Bankman-Fried’s tweetstorm from July 24, 2022, and is seeking immoderate communications with Changpeng Zhao (CZ), the laminitis of Binance.

Kirkland & Ellis is pursuing immoderate disposable “FTX-related entities’ trading logs related successful immoderate mode to the VGX token” betwixt April 2022 and November 11, 2022. Essentially, the instrumentality firm’s database is broad and mentions astir each papers that could beryllium tied to FTX’s and Bankman-Fried’s projected woody to assistance and past bargain Voyager Digital. The subpoenas travel Alameda Research’s attempt to reclaim $446 cardinal implicit alleged “preferential transfers” to Voyager.

What bash you deliberation the result of this subpoena volition beryllium for FTX and Voyager Digital? Leave your thoughts successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.