An investigation into the guidelines agency Sullivan & Cromwell LLP, which labored with the now-defunct crypto substitute FTX, printed that the agency used to be neither considering relating to the fraud nor conscious of the financial troubles that plagued the collapsed shopping and selling platform.
Sullivan & Cromwell Cleared of Negligence in FTX Give plot
Following a contemporary investigation, feeble U.S. prosecutor Robert Cleary disclosed that Sullivan & Cromwell LLP used to be neither implicated within the fraud at FTX nor conscious of any misconduct. In step with a file from Reuters, Cleary found no proof that the guidelines agency neglected “purple flags” while working with the FTX financial slay and at some level of the indirectly unsuccessful Voyager Digital acquisition.
The probe defined that while the guidelines agency conveyed misleading statements to third events, Sullivan & Cromwell used to be unaware that the statements were inaccurate, Cleary talked about. One cited instance used to be at some level of the Voyager, when Sullivan & Cromwell partner Andy Dietderich believed FTX’s funds were “rock stable” on the the same day Sam Bankman-Fried used to be looking out for a buyer or investor for FTX.
After the investigation concluded, Sullivan & Cromwell responded to Cleary’s findings. “Sullivan & Cromwell stays confident in our pre-petition work for FTX and the commencement of the Chapter 11 instances, and we welcome the examiner’s findings to this level rejecting varied baseless allegations about our work for FTX,” Sullivan & Cromwell commented.
What form remember the the investigation’s findings? Share your thoughts and opinions about this self-discipline within the feedback piece below.
