by ZeroHedge News Staff at ZeroHedge
Bankrupt crypto exchange FTX on Thursday filed a lawsuit in Delaware against several investment firms it was tied to before its collapsed, in an attempt to claw back over $700 million in investments allegedly made with misappropriated FTX funds.
In its filing, FTX claims that founder Sam Bankman-Fried was a “profligate patron” who showered cash on former CAA talent agent and former Hillary Clinton aide Michael Kives, as well as his partner in K5 Global, Bryan Baum. SBF also gave money to incubator and investment firm Mount Olympus Capital and SGN Albany Capital.
Bankman-Fried described Kives, who served as an aide to Clinton when she was a Democratic U.S. senator from New York, and who worked as a Hollywood agent for clients including actor and former Republican California governor Arnold Schwarzenegger and singer Katy Perry, 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. –Reuters
The suit highlights a 2022 event attended by SBF which was hosted by Kives.
“True to Kives’s reputation as a high-profile ‘super-networker,’ the attendees at the dinner party included a former Presidential candidate, top actors and musicians, reality TV stars and multiple billionaires,” it reads.
The suit then alleges that FTX’s crypto trading arm, Alameda Research, transferred $700 million to Kives, Baum and K5 Global, however they ‘constructed the deals as coming from shell companies SGN Albany and Mount Olympus Capital,’ according to Cointelegraph:…
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