Bahamas Liquidators Discover Possibilities Of Fraud From FTX
FTX fiasco, the embattled crypto exchange has got it hot from all corners. On one side is the intensive investigation by the regulators, then legal actions from creditors. A few days after the collapse, the legal actions against the FTX exchange increased. Moreover, the latest update from the bankruptcy filings suggests the firm committed severe offences.
FTX’s Bahamian liquidators submitted some documents to the Southern New York District’s Bankruptcy Court. The documents revealed that Joint Provisional Liquidators’ discovered fraud and mismanagement on the part of the crypto exchange. The court would rule its judgment under Chapter 15 of the United States bankruptcy code, which handles insolvency cases involving many countries.
Source
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