The descent into hell of the ex-CEO of FTX continues. The former crypto prodigy faces a setback from his lawyer. This time, it is his lawyers who slam the door. Tired of his recurring actions which put him in the way, the legal firm Paul Weiss finally threw in the towel.
Red line crossed by SBF
Prior to this announcement, it was Martin Fluemenbaum who acted as lead legal advisor to Samuel Benjamin Bankman-Fried, alias SBF. He is an experienced lawyer who counts Christian Larsen, the CEO of Ripple Labs, among his clients.
According to Bloomberg, SBF itself is the cause of this decision. Lawyers for Paul Weiss have reportedly said he is disrupting reorganization efforts with “relentless and disruptive tweets.”
Indeed, on November 10, SBF tried a mea culpa exercise that was not to the taste of its lawyers:
A man alone facing his destiny?
SBF was quick to find new counsel. According to Semaforhe would now be represented by Greg Joseph, the former president of the American College of Trial Lawyers and David W. Mills, a professor of criminal law at Stanford Law School.
Even if it smells scorched for SBF, it is a help that we imagine to be welcome. Incidentally, a class action lawsuit was filed on Thursday by a group of crypto investors against SBF and everyone else who helped promote FTX. Thus, this complaint filed by the law firm Moskowitz and Boies Schiller evokes damages of 11 billion dollars.
FTX continues to spill ink. This decision by Paul Weiss adds to the many red lights around SBF which has definitely fallen out of favor. Also, his tweets are blessed bread for the Securities and Exchange Commission (SEC) who will surely sift them. One cannot help thinking that the ex-legal adviser of Bankman-Fried would know the outcome of this case. Would Paul Weiss have just left the ship before it sank? ?
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