TechFlow news, according to CoinDesk, a court filing submitted Thursday evening shows that FTX has sued former employees of Salameda, a Hong Kong-registered entity affiliated with FTX, seeking to recover approximately $157.3 million.
The document states that Michael Burgess, Matthew Burgess, their mother Lesley Burgess, Kevin Nguyen, Darren Wong, and two companies owned or controlled several entities with accounts registered on FTX.com and FTX US, allegedly illicitly withdrawing assets in the days preceding FTX's bankruptcy announcement.
The filing claims that during the 90 days prior to FTX’s bankruptcy petition on November 11, 2022—known as the "preference period"—the defendants benefited from withdrawals that constituted preferential transfers, which are "avoidable under the Bankruptcy Code." The document indicates that the defendants raced to withdraw assets and leveraged their relationships with FTX personnel to ensure priority over other customers.
These transfers were completed just hours before FTX halted withdrawals on November 8, 2022. Of the total $157.3 million—valued as of August 31, 2023—over $123 million was withdrawn on or after November 7.
The document alleges these transfers were intended to "hinder, delay, or defraud existing or future creditors of FTX US."
