FTX’s legal counsel requested insurers to advance or reimburse Bankman-Fried’s defense costs and fees under the company’s directors and officers (D&O) insurance.
News Own this piece of history
Sam Bankman-Fried is seeking to use FTX’s insurance policies to cover his legal expenses, according to a court filing on March 15.
Trending: Manhattan D.A. Alvin Bragg Responds To Trump’s Statements About Being Arrested, Calls To Action: Report
The former FTX CEO’s legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per the filing, the policies “provides priority of payment to individual insureds with un-indemnified loss like Mr. Bankman-Fried.” Meaning the former CEO would be on top of the FTX payout list.
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!