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Creditors sue FTX receiver for misusing funds to pay for luxury hotels, travel
Editor
2025-01-08 22:01 4,355
Golden Finance reported that the FTX bankruptcy administrator was sued by creditor Lidia Favario for lavish spending. Favario noted that the receiver's expenses while handling FTX's bankruptcy proceedings were lavish, including high-end hotel accommodations and exorbitant transportation costs. She noted that A&M professionals spent $971.74 a night at a luxury hotel in New York and that one professional spent $1,733 on a cab ride. In addition, FTX paid $2,683 to have three taxis waiting for CEO John Ray's deposition. Favario called on the court to expand its review of expenses to ensure compliance with the Justice Department’s reasonable expense standards.
Keywords: Bitcoin
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