FTX sues former employee of Hong Kong subsidiary Salameda, attempting to recover assets worth approximately $157.3 million

ChainCatcher news, court documents show that FTX is suing former employees of its Hong Kong subsidiary Salameda, accusing them of preferential or fraudulent asset transfers in an attempt to recover approximately $157.3 million in assets. Michael Burgess, Kevin Nguyen, Darren Wong, and Matthew Burgess, along with Lesley Burgess and two other companies related to FTX, allegedly withdrew assets from FTX preferentially or fraudulently before the bankruptcy proceedings.

Within 90 days prior to FTX's bankruptcy protection filing in November, the defendants "collectively benefited from withdrawing digital assets and fiat currency from their FTX.com and FTX US accounts." FTX stated that the vast majority of these assets (over $123 million) were withdrawn on or after November 7, including more than $73 million allegedly fraudulently transferred to Michael Burgess.