FTX cases-Judge refused to consider
2022.12.24 12:09
FTX cases-Judge refused to consider
Budrigannews.com – With District Judge Ronnie Abrams’s withdrawal from the case, the ongoing legal proceedings involving former FTX CEO Sam Bankman-Fried (SBF) took a new turn. After learning that a law firm with Abrams’ husband as a partner had advised the crypto exchange in 2021, the United States District Court for the Southern District of New York recused itself from the FTX case.
Judge Abrams disclosed that her husband, Greg Andres, is a partner at Davis Polk & Wardwell, a law firm where he has worked since June 2019. This information was made public in a filing on December 23. In addition, the fact that the law firm had advised FTX in 2021 was brought up.
Additionally, Abrams stated that the law firm represented opposing parties in other legal proceedings to FTX and SBF. She clarified by stating that the matters are confidential and that the District Court is unaware of them. My husband has had no involvement in any of these representations.
“Nonetheless, to avoid any possible conflict, or the appearance of one, the Court hereby recuses itself from this action.”
Given that Andres continues to be a partner at Davis Polk & Wardwell, Judge Abrams’ withdrawal from the FTX case eliminates any potential conflict of interest.
Document from the court indicating that District Judge Ronnie Abrams withdrawn from the Samuel Bankman-Fried case. Source: documentcloud.org
Andres previously held the position of Assistant United States Attorney for the Eastern District of New York, where he was responsible for the prosecution of criminal fraud and the investigation of foreign bribery.
SBF was granted bail on a $250 million bond on December 22 in exchange for a written promise to attend all subsequent court appearances and refrain from engaging in illegal activity.
However, given that SBF had previously claimed to have less than $100,000 when it filed for bankruptcy, the bail raised questions.
Funny how SBF is able to post the $250M bail not long after saying he only had $100k.
So he probably is using stolen customer deposits to stay out of jail.
— Benjamin Cowen (@intocryptoverse) December 22, 2022
Bankman-Fried was able to walk out of prison without having to make any actual payments thanks to the personal recognizance bail. His parents, a relative, and a friend of the family were approved as collateral for the bail.
More 12 million for FTX bankruptcy
