Representatives of unsecured creditors for Voyager Digital have subpoenaed former FTX CEO Sam Bankman-Fried (SBF) and other top executives of the bankrupt crypto exchange.
The subpoenas are related to FTX’s attempt to bail out Voyager Digital when the crypto lender went bankrupt in July 2022. FTX US wanted to acquire Voyager and reached a deal for about $1.5 billion with the lender.
However, the Texas Security Board opposed the deal stating that FTX was not registered with the regulator. The subpoenas ask that executives produce documents, information, and objects about the loan agreement between Alameda Ventures and Voyager.
The filing also includes a request for the trading log of all ‘FTX-related entities’ to see their trading activity for the VGX token between April to November 11, 2022.
The timing of the subpoenas is interesting given that FTX sued Voyager Digital on January 30 to claw back $445.8 million in loan repayments that FTX made to the bankrupt lender.
Alameda was indebted to Voyager when the lender became bankrupt in July 2022. However, FTX paid back the debt in September and October 2022, just a few weeks before it became bankrupt.
The subpoenas require SBF and other executives to provide the necessary information by February 17, with SBF having until February 20 to submit the communication and documents. The deposition of SBF is expected to be remote and scheduled for February 23.
The legal drama between FTX and Voyager, coupled with the recent opposition of Alameda to the Binance acquisition of Voyager, leaves creditors in a lurch with little hope of getting back their funds.
Voyager lawyers are also requesting documents related to statements of FTX’s new CEO, John J. Ray III, and all texts, Telegram, Signal, and Slack messages between the subpoenaed parties.
The creditors hope that the information obtained from the subpoenas will shed light on the loan agreement between Alameda Ventures and Voyager and provide some clarity on the situation.
