FTX Law Firm S&C Cleared of Fraud Conspiracy by Independent Review
CryptoNewsTerminal Staff25 May, 2024
FTX Law Firm S&C Cleared of Fraud Conspiracy by Independent Review
FTX's law firm, Sullivan & Cromwell (S&C), has been cleared of any involvement in the company's fraud by an independent review. Conducted by former U.S. attorney Robert Cleary, the review found that S&C lawyers made misrepresentations while acting as FTX's legal counsel, but they did so without knowledge of the false information or the company's financial problems and fraud. This finding comes in response to a class-action lawsuit filed against S&C by a group of FTX creditors, who alleged that S&C had a close relationship with FTX and enabled its fraud. However, the independent review found no evidence to support these claims.
