A recent lawsuit lodged in a Miami federal court alleges Sullivan & Cromwell, the long-established law firm, of participating in the multibillion-dollar fraud of crypto trading platform, FTX Group. The lawsuit has been initiated by FTX investors, who argue the firm played an active role in the fraud while earning millions in legal fees as counsel for FTX during the exchange’s noteworthy collapse.
Read more about the case here.
Attorneys Adam Moskowitz and Joseph Kaye, from Moskowitz Law Firm based in Coconut Grove, are heading the lawsuit. This proposed class lawsuit represents the aggrieved FTX investors battling Sullivan & Cromwell on the controversial grounds of their alleged complicity in the fraudulent actions of FTX.
As stated in the lawsuit, Sullivan & Cromwell’s earnings from this collaboration totaled $180 million. This sum represents approximately 10% of the total publicly reported revenues of the firm, collected throughout 2022.