The ongoing authorized proceedings round former FTX CEO Sam Bankman-Fried (SBF) took a brand new flip as District Judge Ronnie Abrams withdrew her participation from the case. The United States District Court for the Southern District of New York rescued itself from the FTX case after revealing {that a} law agency — which employs Abrams’ husband as a associate — had suggested the crypto change in 2021.

In a Dec. 23 submitting, Judge Abrams revealed that her husband, Greg Andres, is a associate at Davis Polk & Wardwell, a law agency the place he has been employed since June 2019. Additionally, it was highlighted that the law agency had suggested FTX in 2021. 

Abrams additionally acknowledged that the law agency represented events that could be antagonistic to FTX and SBF in different authorized proceedings. “My husband has had no involvement in any of these representations,” she clarified whereas stating that the issues are unknown to the District Court owing to confidentiality.

“Nonetheless, to avoid any possible conflict, or the appearance of one, the Court hereby rescues itself from this action.”

Judge Abrams’ withdrawal from the FTX case eradicates any battle of curiosity within the FTX case, contemplating the truth that Andres continues to function a associate at Davis Polk & Wardwell law agency.

Court paper displaying District Judge Ronnie Abrams recuse herself from the Samuel Bankman-Fried case. Source:

Andres beforehand labored as an Assistant United States Attorney for the Eastern District of New York, the place he particularly oversaw prison fraud prosecutions and international bribery investigations.

Related: Former Alameda CEO confirms agency borrowed billions from FTX buyer deposits as half of plea deal

On Dec. 22, SBF was launched on a $250 million bail bond based mostly on a written promise to seem for future courtroom appearances and never have interaction in criminal activity.

However, the bail raised eyebrows contemplating that SBF beforehand claimed to own lower than $100,000 amid chapter submitting.

Funny how SBF is ready to submit the $250M bail not lengthy after saying he solely had $100k.

So he in all probability is utilizing stolen buyer deposits to remain out of jail.

— Benjamin Cowen (@intocryptoverse) December 22, 2022

The private recognizance bail allowed Bankman-Fried to stroll out of jail with out making any precise fee. The bail was accredited towards a collateral property owned by his dad and mom, a relative and a household buddy.


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