Choose pulls out of SBF-FTX case citing husband’s legislation agency’s advisory hyperlink


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The continued authorized proceedings round former FTX CEO Sam Bankman-Fried (SBF) took a brand new flip as District Choose Ronnie Abrams withdrew her participation from the case. America District Courtroom for the Southern District of New York rescued itself from the FTX case after revealing {that a} legislation agency — which employs Abrams’ husband as a companion — had suggested the crypto alternate in 2021.

In a Dec. 23 filing, Choose Abrams revealed that her husband, Greg Andres, is a companion at Davis Polk & Wardwell, a legislation agency the place he has been employed since June 2019. Moreover, it was highlighted that the legislation agency had suggested FTX in 2021. 

Abrams additionally said that the legislation agency represented events which may be antagonistic to FTX and SBF in different authorized proceedings. “My husband has had no involvement in any of those representations,” she clarified whereas stating that the issues are unknown to the District Courtroom owing to confidentiality.

“Nonetheless, to keep away from any attainable battle, or the looks of 1, the Courtroom hereby rescues itself from this motion.”

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

Courtroom paper displaying District Choose Ronnie Abrams recuse herself from the Samuel Bankman-Fried case. Supply:

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

Associated: Former Alameda CEO confirms firm borrowed billions from FTX customer deposits as part of plea deal

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

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

The non-public recognizance bail allowed Bankman-Fried to stroll out of jail with out making any precise fee. The bail was authorized in opposition to a collateral property owned by his dad and mom, a relative and a household good friend.