The saga surrounding the collapse of crypto company FTX took another twist today after the bankrupt business unveiled a fresh lawsuit against its former boss Sam Bankman-Fried in a bid to recoup hundreds of millions of dollars.
The lawsuit alleges that Bankman-Fried, along with a number of other senior members of FTX including co-founder Gary Wang, participated in fraudulent transactions for their own personal benefit. That includes the pair having allegedly taken $546 million from Alameda Research, their privately-held crypto hedge fund, to buy shares in another trading app, Robinhood, as well as using fake loans to acquire shares in FTX that had been worth $250 million.
