PANews reported on September 24th that, according to The Block , FTX Recovery Trust filed a lawsuit against Bitcoin mining company Genesis Digital Assets in U.S. Bankruptcy Court , alleging that former FTX CEO Sam Bankman-Fried ( SBF) used commingled funds to invest $1.15 billion in the company , $550 million of which went to co-founders Rashit Makhat and Marco Krohn . The lawsuit alleges that Genesis Digital failed to provide truthful financial statements and that the company's valuation was significantly overstated. FTX Trust is seeking the court's recovery of the funds. SBF has been sentenced to 25 years in prison for misappropriating client assets.PANews reported on September 24th that, according to The Block , FTX Recovery Trust filed a lawsuit against Bitcoin mining company Genesis Digital Assets in U.S. Bankruptcy Court , alleging that former FTX CEO Sam Bankman-Fried ( SBF) used commingled funds to invest $1.15 billion in the company , $550 million of which went to co-founders Rashit Makhat and Marco Krohn . The lawsuit alleges that Genesis Digital failed to provide truthful financial statements and that the company's valuation was significantly overstated. FTX Trust is seeking the court's recovery of the funds. SBF has been sentenced to 25 years in prison for misappropriating client assets.
FTX Trust sues Genesis Digital for $1.15 billion in investment
PANews reported on September 24th that, according to The Block , FTX Recovery Trust filed a lawsuit against Bitcoin mining company Genesis Digital Assets in U.S. Bankruptcy Court , alleging that former FTX CEO Sam Bankman-Fried ( SBF) used commingled funds to invest $1.15 billion in the company , $550 million of which went to co-founders Rashit Makhat and Marco Krohn . The lawsuit alleges that Genesis Digital failed to provide truthful financial statements and that the company's valuation was significantly overstated. FTX Trust is seeking the court's recovery of the funds. SBF has been sentenced to 25 years in prison for misappropriating client assets.
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