Defrauded FTC Customers Are Getting All of Their Money Back—Plus Interest [Yahoo! Finance]
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Source: Yahoo! Finance
and led to the imprisonment of Sam Bankman-Fried —will get their money back, plus interest, The New York Times reported on Wednesday. The company has recovered some $8 billion in assets, and all of FTX's creditors will receive cash payments equal to 118 percent of the assets they had kept in the exchange, the company's bankruptcy lawyers said, according to the Times More from Robb Report The 'World's First NFT Restaurant' Is Selling Memberships for U.S. Dollars Now Ivy League Universities Do Offer a Better Return on Your Investment: Report Another New York Hedge Funder Is Moving to Florida The amount of money that FTX has found is “in general pretty unheard of,” Yesha Yadav, a Vanderbilt University law professor, told the newspaper. “That's something that is really quite astonishing for a major bankruptcy.” While FTX customers will be receiving refunds, the amount of money will be based on their holdings' value when the company went bankrupt a year and a half ago, the Time
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