FTX Faces $12.7 Billion Payout After Massive Fraud Scandal
#FTX #cryptocurrencyfraudFTX has been ordered to pay $12.7 billion in a fraud case, with founder Sam Bankman-Fried sentenced to 25 years in prison for stealing $8 billion from customers. The settlement resolves the litigation and requires restitution and disgorgement. read more
#CryptocurrencyFraud #FTXLawsuit
Disgraced "crypto king" Sam Bankman-Fried plans to sue celebrities Tom Brady and Larry David for supporting his failed FTX cryptocurrency exchange, seeking to recover $11bn in losses for American consumers. Bankman-Fried, serving a 25-year sentence, aims to cooperate in exchange for dropping civil claims. read more