Newly Released Emails Sam Bankman-Fried requested an in-person meeting with John Ray, CEO of FTX
Sam Bankman-Fried is the disgraced founder and CEO of the now-defunct cryptocurrency trading platform FTX.
Bankman-Fried sent Ray an email on January 2nd. Ray is a bankruptcy expert and took over the exchange in November 2013. He offered his assistance with funds or “anything else.” Bloomberg reported Monday. In an email, he stated:
“I’m sorry that things haven’t started off well, but I want to help — in any way possible — with the funds or anything else.”
This move was made just one day after the disgraced Crypto boss pleaded not guilty for fraud and other charges.
Ray has been critical of SBF and the former FTX management in the past for not keeping financial records. This makes it difficult to track funds. He stated that FTX’s collapse last year was due to “concentration in control in the hands a very small number of grossly inexperienced, unsophisticated individuals.”
According to reports, SBF attempted to influence potential witnesses through the encrypted messaging program Signal. Federal prosecutors reported last week that SBF had reached out to Ryne Miller (current General Counsel of FTX US) in an attempt to influence potential witnesses at his trial. Ryne Miller was also a former partner with Kirkland & Ellis.
According to the filing, SBF had also been in touch with “other current or former FTX employees” other than Miller. The US authorities claim that SBF’s request to Miller suggests that he is trying to influence his testimony and that Miller’s efforts to improve their relationship “may be witness tampering.”
The US Department of Justice also opposes FTX’s hiring of Sullivan & Cromwell as the law firm that is currently assisting with the investigation. This was due to potential conflicts of interests. Miller, the general counsel for FTX USA, has previously worked eight years at S&C. According to the DOJ, the investigation would put the law firm in a conflicted situation of investigating its former partner and itself.
FTX and its crypto-company group filed Chapter 11 bankruptcy early November. After US prosecutors filed formal criminal charges against Sam Bankman-Fried (the disgraced founder and CEO of FTX), he was arrested in The Bahamas. After posting a bond of $250m in New York, he was finally extradited to the USA.
SBF was charged with eight crimes, including wire fraud and conspiracy to misuse customer funds. He will appear in federal court on October.