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Voyager Creditors Subpoena SBF and Other FTX Executives

2 mins
19 February 2023, 14:18 GMT+0000
Updated by Ryan James
19 February 2023, 14:19 GMT+0000
In Brief
  • Voyager creditors have subpoenaed Sam Bankman-Fried and other top FTX executives.
  • Voyager wants 'FTX-related entities' trading log on VGX.
  • SBF has until February 20 to submit the requested information and documents.
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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.

According to a Feb. 18 court filing, SBF was subpoenaed to testify at the court deposition and present documents. The other FTX executives that received subpoenas included co-founder Gary Wang, head of product Ramnic Arora, and Alameda CEO Caroline Ellison.

The three were required to provide the needed information by February 17. While SBF has until February 20 to submit the communication and documents.

Voyager Creditors Want Information on Butched FTX Deal

Meanwhile, the deposition of SBF is expected to be remote and scheduled for February 23. The subpoena is connected to FTX’s attempt to bail out Voyager Digital when the crypto lender went bankrupt in July 2022.

At the time, FTX US wanted to acquire Voyager and reached a deal for about $1.5 billion with the lender. But the Texas Security Board pushed against the deal stating that FTX was not registered with the regulator. 

The subpoena is now asking that executives produce documents, information, and objects about the loan agreement between Alameda Ventures and Voyager. 

Additionally, Voyager lawyers are asking for documents such as “Ellison admissions” and “Wang Admissions” and want access to documents related to statements of FTX’s new CEO, John J. Ray III. All texts, Telegram, Signal, and Slack messages between the subpoenaed are also included in the request.

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.

FTX Previously Sued Voyager For Fund Clawback

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. But FTX paid back the debt in September and October 2022, just a few weeks before it became bankrupt. 

With the legal drama between FTX and Voyager coupled with the recent opposition of Alameda to the Binance acquisition of Voyager. Creditors remain in a lurch with only little hope of getting back their funds.


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