FTX, the insolvent cryptocurrency company, has filed a formal objection on Friday against Anthony Scaramucci, his hedge fund SkyBridge Capital, and other entities, including Crypto.com.
These lawsuits represent a renewed attempt by FTX’s creditors to recover assets following the company’s collapse. FTX alleges that the funds frozen during these incidents were part of a “marketing campaign of influence-buying” orchestrated by founder and CEO Sam Bankman-Fried, executed as the company battled to meet its internal liquidity requirements.
The lawsuit alleges that these “investments” yielded minimal returns for Debtors, primarily serving to bolster Bankman-Fried’s reputation within financial circles and politics.
The bankruptcy of the firm has led to criminal convictions for FTX executives on charges of fraud and money laundering, among other crimes. Bankman-Fried was a young billionaire and is currently the CEO of FTX.
The announcement of FTX’s acquisition of a 30% stake in SkyBridge, spearheaded by financier Anthony Scaramucci, former White House Communications Director under Donald Trump, emerged in September 2022 – mere months preceding FTX’s bankruptcy and the subsequent arrest of Bankman-Fried.
As part of its settlement with regulatory bodies, FTX made a $12 million sponsorship payment for Anthony Scaramucci’s SALT conferences, in addition to investing $10 million in the SkyBridge Coin Fund. Scaramucci took Bankman-Fried on a whirlwind US tour with FTX. With a keen eye on Middle Eastern markets, Scaramucci actively promoted potential buyers to Bankman-Fried, who was “so invested” in the fundraising efforts that he even lent him his personal suit and tie prior to their meetings, thereby preventing Bankman-Fried from making a memorable impression in his trademark shorts and t-shirt.
The lawsuit alleges that funds from Alameda Research, FTX’s sister company, were diverted to Fwd.us as part of a deliberate scheme by FTX insiders to drain assets from group investors and boost their personal reputations at investors’ expense.
SkyBridge and Fwd.us did not immediately respond to a request for comment from TechCrunch.
