The former FTX CEO’s legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per the filing, the policies “provides priority of payment to individual insureds with un-indemnified loss like Mr. Bankman-Fried.” Meaning the former CEO would be on top of the FTX payout list.
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Source: Cryptocurrency - investing.com
