FTX’s former law firm hit with lawsuit alleging it set up shadowy entities

FTX’s former primary counsel Fenwick & West LLP has been hit with a class-action suit claiming it aided the crypto exchange’s alleged multi-billion dollar fraud.

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FTX collapsed and filed for bankruptcy in November 2022 when it was unable to process a large volume of customerwithdrawals.

Bankman Fried remains under house arrest and faces 12 charges including wire fraud, conspiracy and money laundering. He is set to have two criminal trials in October and March.

Prosecutors said on Aug. 8 that they plan to re-add a charge relating to illegal campaign finance, which was previously dropped due to it potentially violating a treaty obligation with the Bahamas.

Cointelegraph contacted Fenwick & West for comment but did not immediately receive a response.

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