FTX Trading Ltd. Seeks To Subpoena Sam Bankman-Fried and Family

• FTX Trading Ltd. and the bankruptcy case’s official creditors committee have filed a motion to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, his parents Joseph Bankman and Barbara Fried, as well as some of his top deputies.
• The motion claims that specific insiders associated with Bankman-Fried’s dealings could provide much-needed insight into financial matters.
• The current FTX CEO, John J. Ray III, stated that Joseph Bankman and his family had received payments from the firm.

FTX Trading Ltd. and the bankruptcy case’s official creditors committee recently filed a motion to subpoena FTX co-founder Sam Bankman-Fried, his brother Gabriel Bankman-Fried, his parents Joseph Bankman and Barbara Fried, as well as some of his top deputies. The motion seeks to question these individuals in order to gain insight into the financial matters of the company.

The list of individuals includes some of Bankman-Fried’s top deputies, such as FTX co-founder Gary Wang, ex-Alameda Research CEO Caroline Ellison, the former chief operating officer Constance Wang, and the exchange’s former director of engineering Nishad Singh. The lawyers contend that these associates could provide important information about the company’s financial status.

In addition, the current FTX CEO, John J. Ray III, told Congress that Joseph Bankman and „the family certainly received payments“ from FTX. Bankman and Barbara Fried have not been charged with any wrongdoing, but the documents allege that Fried’s political activities were associated with the firm.

The joint motion details that a subpoena is necessary in order to gain access to the missing information. „Certain insiders are currently cooperating with the debtors to provide important information. But others are not, and thus authorization to issue subpoenas to those with the missing information is critical to the debtors‘ and committee’s recovery efforts,“ the document states.

This request by FTX and the creditors committee comes after a political action committee called Mind the Gap had previously called for an investigation into Bankman-Fried and his family’s financial activities. The FTX bankruptcy case is ongoing, and it remains to be seen whether or not the lawyers will be granted permission to question the individuals associated with Bankman-Fried.