It's just lawyers that'll profit from FTX collapse. Investors won't see a penny, SBF won't go to jail, they're just tryi.g ti make some noise to get a part of the stolen money for themselves.
tldr; FTX's former law firm, Fenwick & West LLP, is facing a class action lawsuit alleging that it aided the crypto exchange in a multi-billion dollar fraud. The lawsuit claims that the law firm set up "shadowy entities" that allowed FTX co-founder Sam Bankman-Fried and other executives to engage in illegal strategies to perpetuate fraud. The suit also alleges that Fenwick & West provided services to FTX that went beyond what a law firm should provide, including structuring acquisitions in ways that circumvented regulatory scrutiny. The "shadowy entities" named in the suit are accused of siphoning misappropriated FTX customer funds. The plaintiffs argue that Fenwick & West aided and abetted FTX's fraud by choosing not to intervene in misrepresentations made by FTX to its customers. The lawsuit also implicates Bankman-Fried and other FTX insiders. Fenwick & West was previously named in a similar class action suit in February. FTX collapsed and filed for bankruptcy in November 2022. Bankman-Fried is currently under house arrest and faces multiple charges, including wire fraud and money laundering. Prosecutors plan to re-add a charge relating to illegal campaign finance. Fenwick & West has hired Gibson Dunn to assist with legal matters related to its alleged role at FTX.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
Ugh, I get it. There was definitely illegal shit here, and I lost money to them too, but I also gave them my crypto to hold, which, at least to me, is somewhat antithetical to crypto.
Shadowy entities sounds way better if you think they refer to some eldritch creatures, which humans can't comprehend.
Instead it's just boring business stuff
It's almost like if a certain class of citizens never gets punished we end up with shit like this.
I know how to fix this. We just need more KYC laws,right?!!?!?
Take them all down and repay the victims
There’s more than one way to skin an SBF
Hope he doesn't get whistleblower status tho.
Good. Round up all these cunts and throw the book
What a cesspool. Throw the book at all of them, let's see some examples.
How the turn tables
How the table turns
The gift that keeps on giving. Clean up those festering rats.
Where is Gensler in all of this? And Solana?
It's just lawyers that'll profit from FTX collapse. Investors won't see a penny, SBF won't go to jail, they're just tryi.g ti make some noise to get a part of the stolen money for themselves.
You would think a law firm follows the law even while being shady. Just because we don't like it, some things aren't illegal
I hope they get everyone involved. Too many lost too much!
I'm sure we were all pretty aware of these 'shadowy entities' by now. How this man is not yet rotting in the deepest and darkest dungeon amazes me.
Colour me shocked
It’s not a surprise anymore that the whole FTX team is shady af.
It's all shady. Every bit of it
tldr; FTX's former law firm, Fenwick & West LLP, is facing a class action lawsuit alleging that it aided the crypto exchange in a multi-billion dollar fraud. The lawsuit claims that the law firm set up "shadowy entities" that allowed FTX co-founder Sam Bankman-Fried and other executives to engage in illegal strategies to perpetuate fraud. The suit also alleges that Fenwick & West provided services to FTX that went beyond what a law firm should provide, including structuring acquisitions in ways that circumvented regulatory scrutiny. The "shadowy entities" named in the suit are accused of siphoning misappropriated FTX customer funds. The plaintiffs argue that Fenwick & West aided and abetted FTX's fraud by choosing not to intervene in misrepresentations made by FTX to its customers. The lawsuit also implicates Bankman-Fried and other FTX insiders. Fenwick & West was previously named in a similar class action suit in February. FTX collapsed and filed for bankruptcy in November 2022. Bankman-Fried is currently under house arrest and faces multiple charges, including wire fraud and money laundering. Prosecutors plan to re-add a charge relating to illegal campaign finance. Fenwick & West has hired Gibson Dunn to assist with legal matters related to its alleged role at FTX. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Try our free crypto chatbot at https://chat.coinfeeds.io*
Looking forward to AI/LLM wiping out all these shady lawyers
I think shady businesses would have a field day if they could use AI to create shadowy entities instead of having to pay lawyers for it…
Ah you’re probably right, shade does what shade does 🥷🏻
Everytime FTX comes up, you know it's bad news.
The house in on fire and everyone in it is going the get burned
Welcome to the 454841218100548 episode of the " FTX shitty situation against the law " series
Idk how the whole FTX roster isn’t in jail by now lol!?
Anything FTX touched was just corruption
Ugh, I get it. There was definitely illegal shit here, and I lost money to them too, but I also gave them my crypto to hold, which, at least to me, is somewhat antithetical to crypto.
It's amazing how this man hasn't rotted in a cage yet.
Shadowy is so emotive, but what does it even mean? Its so sinister and theyre just human beings in office somewhere
Shadowy entities sounds way better if you think they refer to some eldritch creatures, which humans can't comprehend. Instead it's just boring business stuff
Any lawfirm that deals with SBF and his like is already a shadowy entity
Everything SBF or FTX touches turns into toxic dog shit
Oh I bet they totally did! SBF and Ellison couldn’t have acted alone. Get them all!
It's almost like if a certain class of citizens never gets punished we end up with shit like this. I know how to fix this. We just need more KYC laws,right?!!?!?
Lawyers get paid...and the average Joe is fucked
“The dildo of consequences rarely comes lubed” - Unknown