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Judge withdraws from SBF-FTX case, citing husband's law firm counseling connection

Published on

December 24, 2022
Read Time:2 Minute, 0 Second

The continuing court docket case involving former FTX CEO Sam Bankman-Fried (SBF) took a brand new flip when District Decide Ronnie Abrams withdrew her participation within the case. The US District Courtroom for the Southern District of New York bailed out of the FTX case after revealing {that a} regulation agency — which employs Abrams' husband as a accomplice — suggested on the crypto change in 2021.

In a December twenty third submissionDecide Abrams introduced that her husband Greg Andres is a accomplice at Davis Polk & Wardwell, a regulation agency the place he has been an affiliate since June 2019. As well as, it was highlighted that the regulation agency had suggested FTX in 2021.

Abrams additionally acknowledged that the regulation agency represents events that will face FTX and SBF in different court docket circumstances. "My husband was not concerned in any of those allegations," she clarified, explaining that the matter was not identified to the district court docket for causes of confidentiality.

"Nonetheless, to keep away from any attainable battle, or the looks of 1, the court docket hereby evades this motion."

Decide Abrams' retirement from the FTX case eliminates any battle of curiosity within the FTX case, on condition that Andres continues to function a accomplice on the regulation agency of Davis Polk & Wardwell.

Courtroom submitting displaying District Decide Ronnie Abrams withdrawing from the Samuel Bankman-Fried case. Supply: documentcloud.org

Andres beforehand served as Assistant US Lawyer for the Jap District of New York, the place he particularly oversaw fraud prosecutions and international bribery investigations.

Associated: Former Alameda CEO confirms billions in agency borrowing from FTX buyer deposits as a part of plea deal

On December 22, SBF was launched on $250 million bail based mostly on a written promise to seem at future court docket hearings and to not interact in any criminality.

Nonetheless, the bail raised eyebrows contemplating SBF beforehand claimed to have lower than $100,000 whereas submitting for chapter.

Humorous how SBF is ready to submit the $250 million bail simply after saying he solely has $100,000.

So he is in all probability utilizing stolen buyer deposits to keep away from jail.

— Benjamin Cowen (@intocryptoverse) December 22, 2022

Private acknowledgment bail allowed Bankman-Fried to flee jail with out making any precise fee. The bail was authorized towards property belonging to his mother and father, a relative and a household pal serving as safety.



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Azeez Mustafa
Azeez began his FinTech career path in 2008 after growing interest and intrigue about market wizards and how they managed to become victorious on the battlefield of the financial world. After a decade of learning, reading and training the ins and outs of the industry, he’s now a sought after trading professional, technical/currency analyst and funds manager – as well as an author.
Last Updated : December 24, 2022
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