Voyager creditors serve SBF a Subpoena to appear in court for a ‘remote deposition’

February 19, 2023 Coin Telegraph

Bankruptcy

Bankman-Fried has only a matter of days to meet document requirements before his appearance in court next week.

Representatives for Voyager's Unsecured Creditors have requested that former FTX CEO Sam Bankman-Fried (SBF) and a number of top-level executives from FTX and Alameda Research, provide documents and appear in court remotely next week for a deposition.

A court filing on Feb. 18 in the United States Bankruptcy Court for the Southern District of New York, stated that Bankman-Fried has been served a “Subpoena to Testify at a Deposition in a Bankruptcy Case.”

*A snippet of Voyager's subpoena for Sam Bankman-Fried. Source: cases.stretto.com*

It was served by the Official Committee for the Unsecured Creditors of Voyager Digital Holdings, a bankrupt crypto lending exchange, who stated that he must appear for the “remote deposition” on Feb. 23.

It also stated that Bankman-Fried produce all requested “documents and communications” no later than Feb. 20.

This comes after it was revealed in a Feb. 6 court filing that Voyager’s lawyers had served a subpoena to Bankman-Fried as well as Alameda CEO, Caroline Ellison, FTX co-founder, Gary Wang and FTX’s head of product, Ramnic Arora.

All individuals were required to provide the requested information by Feb. 17.

Judge John Dorsey had previously authorised FTX debtors under bankruptcy court rules to issue subpoenas for information and documents from former FTX colleagues and family members of Bankman-Fried.

It was revealed on Feb.16 that Bankman-Fried could potentially have his bail revoked after Judge Lewis Kaplan stated that there was “probable cause” to believe that he engaged in attempted witness tampering.

Previous court documents filed on Feb. 3 also revealed that Bankman-Fried’s holding company, Emergent Fidelity Technologies, filed for bankruptcy protection.

Sam Bankman-Fried’s holding company files for bankruptcy

February 3, 2023 Coin Telegraph

Bankruptcy

Emergent Fidelity Technologies filed for Chapter 11 in U.S. Bankruptcy Court for the District of Delaware to pursue a “form of joint administration” between its case and FTX's.

Emergent Fidelity Technologies, a Sam Bankman-Fried holding company based in Antigua and Barbuda, has filed for bankruptcy protection.

According to court records filed on Feb. 3, Emergent Fidelity Technologies submitted a voluntary petition to declare bankruptcy under a Chapter 11 filing in United States Bankruptcy Court for the District of Delaware. The company was already the target of a lawsuit filed by crypto lending firm BlockFi in November regarding the status of roughly 55 million shares of Robinhood.

The Robinhood shares — worth more than $590 million at the time of publication — have been a point of contention among parties including BlockFi, FTX creditor Yonathan Ben Shimon, and Bankman-Fried himself. The Justice Department announced on Jan. 6 it had seized the shares as well as roughly $20 million in U.S. dollars as part of the case against FTX and its executives.

Emergent Fidelity Technologies claimed ownership of the shares and the $20 million as its “only known assets," previously held by brokerage firm Marex Capital Markets before the DOJ seizure. According to a declaration by Angela Barkhouse, one of the Joint Provisional Liquidators in the case, Emergent Fidelity Technologies filed for Chapter 11 in the same court as FTX to pursue a “form of joint administration” between the two bankruptcies.

“The [Joint Provisional Liquidators’] duties are to the Debtor’s creditors, whoever those creditors may be,” said Barkhouse. “Given the many parties claiming to be creditors or outright owners of the [Robinhood shares] in proceedings in the U.S., the JPLs believe that chapter 11 protection is the only practical way to empower the Debtor to defend itself, the Assets, and its creditors’ interests in the U.S.”

According to Barkhouse, Bankman-Fried owns 90% of the firm, and FTX co-founder Gary Wang owns the remaining 10%. Bankman-Fried’s criminal trial is scheduled to begin in October, while Wang has already pled guilty to fraud charges.

US Government Seizes Nearly $700,000,000 Worth of Sam Bankman-Fried’s Assets As Fraud Investigation Intensifies

January 22, 2023 The Daily Hodl

BlockFi sues FTX’s Bankman-Fried over shares in Robinhood

November 29, 2022 Coin Telegraph

Bankruptcy

BlockFi is demanding Bankman-Fried’s investment company turn over its shares in Robinhood as collateral it agreed to pay as part of a pledge agreement.

Newly-bankrupt crypto lending platform BlockFi has filed a lawsuit against Sam Bankman-Fried’s holding company Emergent Fidelity Technologies seeking his shares in Robinhood that were pledged as collateral earlier in November.

The suit was filed on Nov. 28 in the United States Bankruptcy Court for the District of New Jersey just hours after BlockFi filed for Chapter 11 bankruptcy in the same court.

As per the filing, BlockFi is demanding Emergent turnover collateral as part of a Nov. 9 pledge agreement that saw Emergent agree to a payment schedule with BlockFi that it has allegedly failed to pay.

BlockFi names the collateral as “including certain shares of common stock.”

In May, Bankman-Fried acquired a 7.6% stake in the online brokerage firm Robinhood, buying a total of $648 million in Robinhood shares through his Emergent investment company.

BlockFi is one of the latest firms to file for bankruptcy as a result of the collapse of FTX crypto exchange.

The crypto firm initially previously denied that a majority of its assets were held on FTX earlier in the month, but also acknowledged “significant exposure” to FTX.

In its bankruptcy filing, BlockFi stated that it has assets between $1 billion and $10 billion with liabilities in the same range, along with over 100,000 creditors.

emergent fidelity technologies