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ARTICLE · 23 NOVEMBER 2022

What To Pay Attention To In FTX Fraud Probe

Lewis Brisbois Bisgaard & Smith LLP
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Atlanta and Savannah Partner Steven H. Lee and Fort Lauderdale Partner Sean P. Shecter recently authored an Expert Analysis piece for Law360 titled,...

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Steven H. Lee
Steven H. Lee
Sean P. Shecter
Sean P. Shecter
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Atlanta, Ga. (November 21, 2022) - Atlanta and Savannah Partner Steven H. Lee and Fort Lauderdale Partner Sean P. Shecter recently authored an Expert Analysis piece for Law360 titled, "What To Pay Attention To In FTX Fraud Probe." The article addresses the collapse of FTX Cryptocurrency Exchange, the related federal investigations and lawsuits currently surrounding the company, and recommendations concerning how crypto-based companies may avoid the same fate as FTX.

Messrs. Lee and Shecter open the article by explaining that the Department of Justice (DOJ) and the Securities Exchange Commission (SEC) recently launched investigations into whether FTX Founder Sam Bankman-Fried used billions of dollars of customer funds to prop up his other investments. They also describe the $11 billion class action lawsuit that was recently filed against Mr. Bankman-Fried and several celebrities who endorsed FTX, alleging that they engaged in a "fraudulent scheme . . . to take

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