FTX Estate Sues Scaramucci, Crypto.com, and Fwd.us to Recover Funds
The FTX bankruptcy estate files 23 lawsuits targeting Anthony Scaramucci, SkyBridge Capital, and other groups to reclaim money spent on influence-buying. The legal action claims these investments served only to prop up Sam Bankman-Fried's reputation rather than benefit creditors.
The bankrupt cryptocurrency exchange FTX files 23 new lawsuits against Anthony Scaramucci, his hedge fund SkyBridge Capital, Crypto.com, and the Mark Zuckerberg-backed lobbying group Fwd.us. These legal actions aim to claw back millions of dollars for FTX’s creditors following the company's spectacular collapse. FTX executives claim the targeted funds were part of a deliberate "campaign of influence-buying" orchestrated by founder Sam Bankman-Fried.
According to the bankruptcy estate, these financial deals convey little to no actual benefit to the debtors and instead serve solely to boost Bankman-Fried's standing in political and traditional finance circles. The lawsuit alleges Bankman-Fried tries to leverage this enhanced reputation to attract potential equity investments to fill a massive hole in FTX's balance sheet and keep his fraudulent scheme afloat. Bankman-Fried is currently serving a 25-year prison sentence for fraud and money laundering.
The litigation specifically details FTX's $12 million sponsorship of Scaramucci’s SALT conferences and a $10 million investment in the SkyBridge Coin Fund. In return, Scaramucci allegedly takes Bankman-Fried on a global fundraising tour and even lends him a suit and tie so the crypto founder avoids showing up to important meetings in his trademark shorts and t-shirt. Neither SkyBridge nor Fwd.us immediately respond to requests for comment regarding the lawsuits.