Crypto exchange FTX has called for the return of funds it claims were directed by former CEO Sam Bankman-Fried and other members of his regime.
In a statement, FTX’s new CEO, John John Jay Ray III, said the company will seek to recover the funds through legal means if not voluntarily returned, with interest accruing from the date any action is commenced.
The request comes after FTX suffered a drop in the price of its exchange token, FTT, and was revealed to not have sufficient reserves to honor withdrawals.
Bankman-Fried has been charged with eight financial crimes, including securities fraud, money laundering, and campaign finance violations.
He was a major donor to Democratic candidates in the 2020 election cycle and has been accused of misusing billions of dollars in customer funds.
Some politicians, including former Representative Beto O’Rourke, have already returned funds they received from Bankman-Fried.
