As part of FTX's bankruptcy proceedings, subpoenas have been issued to former FTX CEO Sam Bankman-Fried, his father Joseph Bankman, and other family members, as well as former FTX and Alameda Research executives including Caroline Ellison, Gary Wang, and Nishad Singh. The subpoenas require these individuals to attend court proceedings and provide all the documents requested as outlined in the subpoena, as per court filings in the U.S. Bankruptcy Court for the District of Delaware.
On February 16, Joseph Bankman, Caroline Ellison, Gary Wang, and Nishad Singh or their representatives must submit various documents related to questionable spending by FTX insiders, such as Bankman-Fried's parents spending $16.7 million on Bahamian real estate and the purchase of a Washington, D.C., headquarters building by an advocacy organization founded by the Bankman-Fried brothers. Recently, FTX obtained court approval to issue subpoenas to former CEO Sam Bankman-Fried and all other affiliates. While Bankman-Fried has pleaded not guilty to fraud allegations, former Alameda CEO Ellison and FTX co-founder Wang have admitted to fraud and are cooperating with federal prosecutors.
A judge has ordered former FTX CEO Sam Bankman-Fried to not use a virtual private network to access the internet, as prosecutors allege that he has been using one to communicate with former employees, despite being prohibited from doing so by a restraining order.
The bankruptcy court has granted FTX's request to exclude its Turkish entities from the bankruptcy proceedings in the United States.
In addition, several venture capital firms, including Sequoia Capital, Thoma Bravo, and Paradigm, that invested in FTX are facing a class-action lawsuit.
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