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U.S Judge John Dorsey ordered that FTX’s new leadership and its official creditor committee can subpoena the company’s founders and former executives, including Sam Bankman-Fried.
Gary Wang, Caroline Ellison, Nishad Singh, Constance Wang and Bankman-Fried’s family – mother Barbara Fried, father Joseph Bankman and brother Gabriel Bankman-Fried – can also be subpoenaed, the order said. FTX’s Official Committee of Unsecured Creditors and its leadership moved to subpoena the individuals last month.
FTX is looking for information about who may have received funds sent from the company, which may have included misappropriated customer funds.
“Certain insiders are currently cooperating with the Debtors to provide important information. But others are not, and thus authorization to issue subpoenas to those with the missing information is critical to the Debtors’ and Committee’s recovery efforts,” FTX wrote at the time.
Judge Dorsey, of the Delaware Bankruptcy Court, signed off on the order Wednesday, noting that FTX could come back with further requests.
“The Movants are authorized under Bankruptcy Rules 2004 and 9016 to issue subpoenas to the any or all of the Insiders for the production of documents, electronically stored information, or tangible things, including those responsive to the Requests,” he wrote.
The scope of the information demands can still be tweaked if an independent examiner is appointed, the order said, referring to concerns from the Department of Justice that there could be duplication of effort.
The judge also signed a second order allowing FTX to subpoena third parties for information that may be tied to a hack of the exchange from the day it filed for bankruptcy.
Jack Schickler contributed reporting.