According to the latest reports, the once prominent and now collapsed crypto exchange FTX objected to the request of the US Department of Justice. While the department requested an independent investigation on the ongoing condition and the allegations on FTX, the company refused to give consent claiming that the company is already under an elongated investigation that included even the family members of the company’s former CEO Sam Bankman-Fried.
Previously, in November 2022, FTX filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court in November, following which SBF stepped down from his position as the company CEO.
Significantly, regarding the current investigation, the company requested John Dorsey, the US Bankruptcy Judge who is in charge of the Chapter 11 proceedings, to help the company to retrieve its legal documents from SBF and related people. As per the words of executives from FTX, these people made illegal transactions, through which they amassed and used “misappropriated and stolen” funds.
It is revealed that the transac …
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Source: Cryptocurrency - investing.com
