Reuters reported that ftx founder and former CEO, Sam Bankman Fried, has hired lawyer Mark Cohen. The former prosecutor is known for recently defending Ghislaine Maxwell in her sex trafficking trial, and will now defend Bankman-Fried against what comes out of US authorities’ investigations.
As FTX’s collapse routinely made headlines over the past month, Sam Bankman-Fried has been at the center of the discussions. Subsequently, while authorities investigate the situation, the disgraced billionaire enlisted the services of Cohen to defend him.
Bankman-Fried appoints former prosecutor Cohen
The demise of FTX has been the biggest scandal in cryptocurrency’s relatively young history. The cryptocurrency exchange platform filed for bankruptcy earlier this year after reports of misuse of client funds.
The scandal has lost millions of customers and behind all the controversy is its founder, Sam Bankman-Fried. In addition, he has reached the services of notorious lawyer Mark Cohen as authorities in several countries investigate his role in the FTX collapse.
While prosecutors have not charged Bankman-Fried with any criminal activity, it is unknown what the results of their investigation will yield. In addition, Reuters stated that the former CEO is “facing civil lawsuits from investors and FTX clients.”
The report added that David Mills is advising on behalf of Bankman-Fried. Conversely, hiring Cohen has gone after Bankman-Fried the services terminated of lawyer Martin Flumenbaum. Then Flumenbaum stated last month that he was no longer representing Bankman-Fried due to conflict.
Reuters reported the hiring of Cohen, of Cohen & Gresser, via an emailed statement from Bankman-Fried spokesman Mark Botnick. Cohen has so far not commented on the reported hiring.