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Media personality Charles Gasparino has called out David Boies, a well-known lawyer in the United States, for representing the victims of the Sam Bankman-Fried-led FTX exchange. Taking to Twitter to express what seems like a conflict of interest, Gasparino said the representation is raising eyebrows in the legal circle.
According to Gasparino, Boies has enough conflict of interest to deal with regarding the ties he has to people close to Bankman-Fried, also known as SBF. He pointed out that the attorney is close to James Fox-Miller, SBF's uncle. Additionally, he said his wife helped SBF with a high-profile FTX-sponsored charity event prior to the exchange's implosion.
David Boies repping of @SBF_FTX victims is raising eyebrows in legal circles: A long time partner James Fox-Miller is SBFs uncle. His wife Barbara Miller helped SBF w a high profile FTX charity event. Plus, money men close to @RonDeSantisFL say hes running more @FoxBusiness 345pm
— Charles Gasparino (@CGasparino) January 31, 2023
The bankruptcy of the FTX exchange introduced uncertainty for everyone involved. While it has been established that Sam Bankman-Fried has close ties to the political class, it is unclear whether his influence extends to judicial favors.
Calling out David Boies may or may not mean much, however, for creditors looking for a speedy conclusion to the bankruptcy proceedings, any form of detrimental conflict of interest may not be in their best interest.
Alex DovbnyaSBF still looking for leniency
Despite the alleged pain and loss that his leadership of the bankrupt crypto trading platform caused its users, Sam Bankman-Fried is reportedly looking for leniency from foreign regulators. As detailed, the 30-year-old wanted to delay bankruptcy proceedings by transferring assets from the exchange to regulators abroad.
The assumption was that these foreign regulators would be more lenient with him and perhaps allow him to regain control of the digital currency trading platform. While it is unclear whether this move will be entertained by the bankruptcy court, the U.S. Department of Justice will definitely not want to set a new precedent this way.
With the proceedings still young, many creditors cannot place a definitive peg on when they will be able to recoup their locked funds.
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov