Bloomberg Law
Nov. 23, 2022, 7:42 PM

‘First’ Accounting Firm in Metaverse Sucked Into FTX Meltdown

Joe Schneider
Joe Schneider
Bloomberg News

An accounting firm that touts itself as the first to open its headquarters in the metaverse was accused in a lawsuit of turning a blind eye to a pattern of racketeering at FTX, the cryptocurrency exchange that collapsed causing billions of dollars in losses.

Prager Metis CPAs LLC, an auditor for FTX, was sued by an investor who claims to have lost almost $20,000. Stephen Pierce also sued Armanino LLP, an auditor for FTX US, FTX’s co-founder Sam Bankman-Fried and others -- accusing all of them of a racketeering conspiracy.

Much of the lawsuit relies on a ...

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