Alameda Research and West Realm Shires of the bankrupt FTX_Official empire, are seeking to claw back $6.9 million from Embed Financial, a broker-dealer that Sam Bankman-Fried acquired using FTX funds. By JamieCrawleyCD.
Alameda Research and West Realm Shires, two wings of the bankrupt FTX empire, are seeking to claw back $6.9 million from Embed Financial shareholders, a broker-dealer that Sam Bankman-Fried acquired using FTX funds.
According to a Wednesday court filing in Delaware, Alameda alleges that Bankman-Fried and other FTX insiders paid Embed using misappropriated funds in late September 2022, only weeksAlameda and West Realm Shires are seeking to reclaim money paid to Embed shareholders under bankruptcy laws, whereby courts to undo"fraudulent transfers," transfers of a company's assets in order to prevent them being repaid to creditors.
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