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Crime: class action against crypto tours FTX submitted

Close to Home by John McPherson

  Close to Home by John McPherson Close to Home by John McPherson

former customers of the crypto tour FTX have submitted a class action against the insolvent company. FTX and its operators have "completely waived their duty or ignored them to set up appropriate controls to protect the customer property held at FTX", according to the submitted court documents. Customers would have to prioritize in the bankruptcy proceedings towards other creditors, the plaintiffs demanded.

FTX war im Mai 2019 gegründet worden. © Marta Lavandier/AP/dpa FTX was founded in May 2019.

The FTX group of finance manager Sam Bankman-Fried collapsed in October for enormous funds in connection with liquidity worries. Billions of customer funds could not be paid out. The US stock exchange supervision SEC has charged Bankman-Fried for fraud.

The authority accuses him of misleading investors with false promises and misappropriating their money. It is more than $ 1.8 billion (more than 1.7 billion euros). He threatens years of prison in the United States.

Ex-Alameda CEO Caroline Ellison and FTX cofounder Gary Wang plead guilty to charges and are cooperating with authorities, US attorneys say .
Ellison and Wang are cooperating with the investigation into the collapse of FTX, said Damian Williams, the US attorney for the SDNY.Ellison and Wang have also agreed to cooperate with the prosecutors, Williams added in a statement.

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