Sam Bankman-Fried Agrees to Help FTX Investors Go After Celeb Promoters
Summary
Sam Bankman-Fried has reached a settlement with FTX customers, who will drop their class action lawsuit in exchange for his help pursuing celebrity promoters of the collapsed exchange. The agreement, filed in a Miami court, would release Bankman-Fried from current and future civil liability. He will provide information and financial documents to aid in victim recovery and litigation efforts against celebrity promoters and venture capital firms. Bankman-Fried's co-defendants and smaller celebrity promoters have also settled. However, big-name promoters and venture capital firms are fighting the lawsuit. Bankman-Fried is appealing his conviction and sentence for fraud related to FTX's collapse.
