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Former FTX’s top lawyer assists US authorities in SBF legal case

former-ftxs-top-lawyer-assists-us-authorities-in-sbf-legal-case
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News
Former FTX’s top lawyer assists US authorities in SBF legal case

Daniel Friedberg, former FTX’s lawyer, is said to be helping the US authorities in the FTX case. He reportedly revealed the customers’ funds abuse to regulators.

Daniel Friedberg collaborates with the US prosecutors

In a recent investigation, Reuters has revealed new information on the FTX case, citing the collaboration of the former FTX lawyer and US prosecutors. Friedberg, a former top-tier lawyer at the disgraced crypto exchange, has been reportedly working with the authorities to investigate the in-depth story of the unexpected collapse. 

Sam Bankman-Fried, former CEO and founder of the platform, is facing criminal charges over the shutdown driving billions of venture capitalists’ investments into losses.

On Nov. 11, FTX filed for bankruptcy. Friedberg reportedly received a phone call from FBI agents based in New York a few days later, on Nov. 14. Per Reuters, he informed them he was willing to share data but was required to request that FTX relinquished his attorney-client privilege.

In consultation with 20 prosecutors on Nov. 22, Friedberg reportedly provided information to DOJ, FBI and SEC. Reuters’ source also showed participants’ emails arranging the gathering with those agencies.

Friedberg allegedly revealed to the investigators at the meeting that SBF used customers’ deposits to fund his vast corporate empire. The lawyer also provided information about the hedge fund Alameda Research and related discussions he had with other top executives.

Friedberg’s participation remains publicly unmentioned

According to persons familiar with the matter, Friedberg is not facing any criminal charges. He expects to appear in SBF’s court trials as a government witness. 

The criminal charge against the currently bankrupt FTX is being handled by Manhattan US Attorney Damian Williams, who stated the following last month:

“If you participated in misconduct at FTX or Alameda, now is the time to get ahead of it.”

Friedberg’s lawyer, Telemachus Kasulis, the FBI, and FTX declined to provide information on Friedberg’s collaboration. The SEC, the DOJ and Bankman Fried’s spokesman were unwilling to comment.

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