The bankrupt FTX exchange has filed a lawsuit against Ryan Salame, the former co-CEO of its Bahamian subsidiary, seeking to recover approximately $98.8 million in cash and crypto. FTX accuses Salame of assisting other executives in breaching fiduciary duties and misappropriating customer assets. Salame allegedly received substantial benefits from his involvement, including $52.9 million in wire transfers, $29.8 million in cash and crypto withdrawals, and over $7.7 million in salary and bonuses. He also acquired and sold FTT tokens, investing the proceeds in various assets. Salame's guilty plea to conspiracy charges and misuse of estate funds have further complicated the situation. FTX is seeking to disallow Salame's claims in their Chapter 11 proceedings until he returns all misappropriated assets, spanning multiple locations. Salame's legal troubles include a 90-month prison sentence, forfeiture of $1.5 billion, and significant financial penalties. Read more AI-generated news on: https://app.chaingpt.org/news