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FTX Sues Founder and Former Executives for Alleged Misappropriation of Funds

FTX Trading Ltd has filed a lawsuit against its founder Sam Bankman-Fried and other former executives, accusing them of misappropriating hundreds of millions of dollars before the cryptocurrency exchange went bankrupt.

The complaint, filed in Delaware bankruptcy court, also names Caroline Ellison, Zixiao "Gary" Wang, and Nishad Singh as defendants. Bankman-Fried, who was escorted out of a court building in Nassau, Bahamas in December 2022, is no longer the CEO of FTX.

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