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Hedge Fund Arm of Bankrupt FTX Empire Seeks Return of $700M Paid for Access to Celebrities and Politicians

June 23 (Cointime) - Alameda Research, the hedge fund division of FTX, which filed for bankruptcy in November, is seeking the return of $700 million that founder Sam Bankman-Fried allegedly paid to "super networkers" Michael Kives and Bryan Baum for access to celebrities and politicians.

Lawyers for FTX's new management claim that Bankman-Fried treated the companies he controlled as a "slush fund" and that Kives and Baum "acted with dishonest minds" by accepting money that personally benefited Bankman-Fried without providing any equivalent payoff to Alameda. The transfers of $700 million made from Bankman-Fried's companies to Kives' and Baum's had the badges of fraud under bankruptcy law, according to the filing.

Alameda Research FTX bankruptcy Sam Bankman-Fried Fraud
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