- The former FTX executive was recently requested to appear before a bankruptcy court in light of his earlier attempts to acquire Voyager Digital.
- SBF’s lawyers have termed the documents requested in the summons as ‘unreasonable and unconstitutional.’
The attorneys of the former FTX CEO Sam Bankman-Fried (SBF) have resisted a subpoena served to their client and several of his former colleagues, compelling them to testify in a bankruptcy case of Voyager Digital, saying the summons were not properly issued.
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On February 18, representatives of the unsecured creditors of Voyager Digital issued subpoenas asking former FTX executives – Sam Bankman Fried, Caroline Ellison, Samuel Turbucco, Gary Wang, and Nishad Singh – to appear in a remote repository to testify concerning the attempted acquisition of the crypto lender, Voyager.
SBF’s attorneys now want the judge presiding over the matter to quash the subpoenas, saying they were not properly served, according to coverage by Bloomberg. The legal team argued that the subpoenas were issued to SBF’s mother, Barbara Fried, in the absence of the intended recipient.
“Leaving the Subpoena in possession of Barbara Fried does not satisfy the Rule’s requirement for personal service on Mr. Bankman-Fried. Substitute service is generally not permitted to serve a Rule 45 subpoena,” notes a statement by the legal team.
Request for documents unreasonable and unconstitutional
The summons also required that the above persons produce the documents containing the information about the loan agreement between Alameda Ventures, the investment arm of FTX, and Voyager before February 23, something the representatives of SBF have termed unprocedural, considering the time frame and the nature of engagement.
The rebuttal read: “Each of the documents requests calls for documents that may be relevant to the Criminal Case, in which loans by and to Alameda are at issue. The requested production would entail reviewing a large volume of material and judging their responsiveness. This process could constitute an incriminating testimonial act in the Criminal Case.”
SBF is expected to appear before the US District Court in New York on October 2 to answer eight counts of felony charges following the historic collapse of his exchange FTX – which caused investors an estimated $10 billion worth of losses. The 30-year-old entrepreneur is currently out on a $250 million bond and staying with his parents in California.
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