Posted on 06/25/2023 1:35:48 PM PDT by Libloather
FTX is seeking to claw back some $700 million from a former aide to Hillary Clinton-turned Hollywood super agent who was allegedly showered with cash by disgraced fallen crypto mogul Sam Bankman-Fried.
The bankrupt cryptocurrency exchange took legal action on Thursday against Michael Kives, who was an assistant to then-Sen. Hillary Clinton (D-N.Y.), and his company, K5 Global, and firm co-founder Bryan Baum.
According to court papers filed in bankruptcy court in Delaware, Bankman-Fried authorized the transfer of $700 million to K5 entities in 2022, and he leaned on K5’s celebrity and business connections in his effort to obtain rescue financing in the days before FTX went bankrupt in November 2022.
As The Post reported in December, Kives - whose celebrity connections include Warren Buffett, Arnold Schwarzenegger, Katy Perry, and Kendall Jenner - stood to lose hundreds of millions of dollars as a result of K5 Global’s business relationship with FTX’s now-defunct investment arm, Alameda Research.
Bankman-Fried, who has been indicted on fraud and money laundering charges by the feds, described Kives as “probably, the most connected person I’ve ever met,” and “a one-stop shop” for political relationships and celebrity partnerships, according to the complaint.
The fallen crypto mogul was known to cultivate ties with the wealthy and powerful, including Bill and Hillary Clinton.
Bankman-Fried has pleaded not guilty. A trial is set to begin this fall.
(Excerpt) Read more at nypost.com ...
Clintoons always have a washing machine going. More than a few
Since filing for bankruptcy, FTX’s new leadership has recovered more than $7 billion in assets that can be used to repay customers whose funds were frozen when the crypto exchange collapsed.
FTX has also filed lawsuits over its pre-bankruptcy investment in the stock platform Embed and its payments to Genesis Global Capital, the bankrupt lending arm of crypto firm Genesis.
FTX on Wednesday announced a settlement with the Metropolitan Museum of Art, in which the museum agreed to return $550 million in donations that it received from FTX companies in 2022.
This will take the money out of a lot of lib causes.
https://www.cbsnews.com/news/ftx-sam-bankman-fried-house-committee-testify/
John J. Ray III, who stepped in to lead FTX after it filed for bankruptcy
When you lay down with rodents...
The bankrupt cryptocurrency exchange took legal action on Thursday against Michael Kives, who was an assistant to then-Sen. Hillary Clinton (D-N.Y.), and his company, K5 Global, and firm co-founder Bryan Baum.
https://www.k5global.com/founders
No serious prosecutor would dare touch this case.
” FTX sues former Hillary Clinton aide over $700 million in ‘misappropriated funds’”
How about the misappropriated millions Sam Bankman-Fried lost in addition to the $$$$ he donated to the Democrats. Sounds like the pot calling the skillet black again.
And he gave Metropolitan Museum of Art $550 million in donations from FTX companies in 2022 alone?.
That’s a lot of money reclaimed.
I am very surprised. The Met got $550 million of customer monies? Hilary’s aide got $700 million? Crazy.
https://www.abc.net.au/news/2022-11-18/ftx-bankruptcy-report-sam-bankman-fried/101671884
The man appointed to administer FTX in chapter 11 bankruptcy has told a US court he is confronting an “unprecedented situation”, with a total failure of corporate governance and lack of reliable financial information.
Key points:
FTX’s administrator told a US court he had never seen “such a complete failure of corporate controls”
John J. Ray III said most of the group’s accounts were unaudited and some subsidiaries did not have financial accounts at all
He said a “substantial portion” of the estate’s property may be missing or stolen
In a 40-year career in corporate restructuring and administration, John J. Ray III has previously overseen some of the highest profile US corporate collapses, notably of energy giant Enron.
“Nearly every situation in which I have been involved has been characterised by defects of some sort in internal controls, regulatory compliance, human resources and systems integrity,” he told the Bankruptcy Court for the District of Delaware in a legal filing.
The Met got $550 million
The met is money laundering.
LOL
But Jon Corzine just might be the Gold Medal winner for high-profile politician who “disappeared” lots of OPM (other people’s money) and then just disappeared into the woodwork.
Who else do FReepers remember for such noteworthy scamificating?
Zelenski?
I would be loading up on anti suicide medication about now…
Did they get the Democrat bribes, I mean political contributions back?
They can look at the Democrat bank that folded and see the same.
And every major city’s books in the USA.
Did they get the Democrat bribes, I mean political contributions back?
https://news.yahoo.com/ftx-bankruptcy-means-73-million-154025139.html
Looking at the history of the guy in charge it is on the table.
No current news. But there may be a reason for that not being in the news. Think about it.
will keep looking if you will.
I think FTX will show who the corporate criminal .... does not Suprise me that there is a Clinton connection.
https://www.investopedia.com/ftx-seeks-donations-returned-7106383
Here is some recent news. So quietly in process. Media numb on the issue..............
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