The leadership of the collapsed FTX exchange is trying to return about $71 million from the company’s charitable and life sciences divisions.
Only the scientific fund of the former head of the platform Sam Bankman-Fried (SBF) Latona received about $71.5 million from FTX and Alameda Research. The affiliates also invested in Lumen Bioscience, GreenLight Biosciences, Genetic Networks and 4J Therapeutics between February and October 2022.
According to the lawyers of the crypto exchange, these donations are made “for the personal exaltation of Bankman-Fried.”
“The FTX Foundation was a charitable arm of the group of companies, and Latona was a fictitious non-profit organization registered in the Bahamas,” court documents say.
The company added that the former CEO made donations to “accumulate political capital and increase his influence.”
In June, FTX sued SBF partners and related firms for a $700 million return on investment. According to lawyers, the ex-head “showered” money at several companies as part of a scheme to fraudulently embezzle assets of the exchange for personal purposes.
Earlier, the US Attorney’s Office charged Bankman-Fried with 13 criminal offenses. He pleaded not guilty to any of the counts.
Recall that the Metropolitan Museum of Art in New York has agreed to return $ 550,000 received from the exchange as a donation.
Prior to this, FTX lawyers filed a lawsuit against the bankrupt crypto lending platform Genesis, demanding the return of $4 billion.
The company also sued SBF and other former Bitcoin exchange executives for buying Embed at an inflated price.
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