FTX’s former law firm hit with lawsuit alleging it set up ‘shadowy entities’

Source: CourtListenerThe complainants said Fenwick & & West helped and abetted FTXs supposed fraud by selecting not to intervene in a series of misrepresentations allegedly made by FTX to its customers.There was an implied contract between FTX US, other FTX affiliates and Fenwick & & West to deceive clients, the class suit said– something which appealed to the law firm due to the fact that it “stood to gain economically” from FTXs supposed misbehavior, it added.Bankman-Fried, previous Alameda Research CEO Caroline Ellison, former FTX co-founder Gary Wang and former FTX engineering lead Nishad Singh were the 4 so-called FTX experts noted by the plaintiffs. Fenwick & & West was named in a similar class suit in February that also declared it assisted Bankman-Fried and FTX in setting up its business.The February class action– which also targeted FTX investor and venture capital firm Sequoia Capital– declared the services provided by Fenwick & & West were central to Bankman-Frieds fraud.The law company recently worked with peer firm Gibson Dunn to assist with legal matters related to its supposed role at FTX according to a June 21 Reuters report. Cointelegraph got in touch with Fenwick & & West for remark but did not right away get a response.Magazine: Deposit danger: What do crypto exchanges actually do with your money?

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