Bloomberg Law
March 16, 2023, 4:59 PM

Bankman-Fried Seeks FTX Insurance Coverage of His Legal Costs

Evan Ochsner

Sam Bankman-Fried wants FTX Trading Ltd.'s insurers to help cover costs he has incurred in at least 16 different legal proceedings, but the bankrupt crypto exchange has refused to cooperate, his lawyers said.

Bankman-Fried is covered by insurance policies intended to help pay legal costs incurred in his capacity as the former leader of FTX, his lawyers said in a Wednesday filing in the US Bankruptcy Court for the District of Delaware. But the company he co-founded has declined to pitch in for those costs and declined to help him obtain court clearance to collect from directors and officers insurance ...