Representatives of Voyager Digital have taken legal action against former FTX CEO Sam Bankman-Fried (SBF) and other top executives of the bankrupt crypto exchange.
The group has subpoenaed SBF and other FTX executives to testify at court depositions and produce documents related to FTX’s attempt to bail out Voyager Digital when the crypto lender went bankrupt in July 2022.
The subpoenas were issued on February 18, and SBF has until February 20 to submit communication and documents. The deposition of SBF is scheduled for February 23 and is expected to be remote. The request is asking that executives produce documents, information, and objects about the loan agreement between Alameda Ventures and Voyager.
Voyager lawyers are also asking for access to documents related to statements of FTX’s new CEO, John J. Ray III. All texts, Telegram, Signal, and Slack messages between the subpoenaed are also included in the request.
Additionally, the filing includes a request for the trading log of all ‘FTX-related entities’ to see their trading activity for the VGX token between April to November 11, 2022.
The timing of the subpoenas is interesting, given that FTX sued Voyager Digital on January 30 to claw back $445.8 million in loan repayments that FTX made to the bankrupt lender.
Alameda was indebted to Voyager when the lender became bankrupt in July 2022. However, FTX paid back the debt in September and October 2022, just a few weeks before it became bankrupt.
With the legal drama between FTX and Voyager coupled with the recent opposition of Alameda to the Binance acquisition of Voyager, creditors remain in a lurch with little hope of getting back their funds.
The subpoenas are the latest development in what has been a complicated and tumultuous process for all parties involved. As the legal proceedings continue, the fate of Voyager Digital and its creditors remains uncertain.