Executive Liability

FTX Founder Sam Bankman-Fried Sues Insurer to Cover Defense Costs in New York Criminal Trial

According to a complaint filed in the Northern District of California federal court, an insurance company must pay for his legal defense "without regard to whether payments may exhaust the policy limit.”

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Indicted FTX founder Sam Bankman-Fried sued an insurance firm for assistance with his defense costs one day before jury selection began in his fraud trial in Manhattan.

Bankman-Fried’s attorneys at Lewis & Llewellyn and Cohen & Gresser argued that the Continental Casualty Co., also known as CNA, has breached its contractual obligation to pay Bankman-Fried’s defense costs “on a current basis, without regard to whether payments may exhaust the policy limit.”

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