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FTX Bankruptcy Lawyers Channel their Inner Sam Bankman-Fried – Bill $21,000 for their Meals Over Just 20 Days
The shenanigans going on in Judge John Dorsey’s bankruptcy courtroom, which is overseeing the FTX bankruptcy proceedings of Sam Bankman-Fried’s collapsed crypto empire, are reaching levels that should be attracting the attention of federal prosecutors. The head of the newly-created FTX Task Force, U.S. Attorney for the Southern District of New York, Damian Williams, has called the looted FTX customer accounts “one of the biggest financial frauds in American history.”
On Monday, February 6, the lead counsel in the bankruptcy case, Sullivan & Cromwell, and its hand-picked CEO for FTX, John Ray, argued vehemently against the appointment of an independent examiner in the FTX matter. The independent examiner has been requested since December 1 by the U.S. Trustee, who works for the U.S. Department of Justice. Sullivan & Cromwell law partner, James Bromley, and Ray, cited the high cost likely to be charged by the independent examiner as one of their arguments against the appointment.
The very next day, Tuesday, February 7, Sullivan & Cromwell submitted a compensation request for $7.6 million in legal fees for 19 days work in November, plus $105,000 in expenses. As part of those expenses, Sullivan & Cromwell included a request to be reimbursed for $7,202.19 for “Conference Room Dining,” and $1,840.00 for “overtime” meals. Accentuating the increasingly tone deaf nature of this law firm, just a few months ago Sam Bankman-Fried was making headlines for spending $2500 on lavish lunches for himself and staff while his customers’ accounts were being looted.
Bromley, who was so concerned about the cost that might be incurred if an independent examiner was hired, billed at an hourly rate of $2,165 for a total of $381,689.50 in legal fees for the period of November 11 through November 30, 2022. Another Sullivan & Cromwell law partner, Andrew Dietderich, also billed at an hourly rate of $2,165 for a total of $465,042.00 over the same span of time. (Emails recently surfaced in another crypto bankruptcy case where Dietderich had written in an email to a different law firm on November 7 that FTX was “rock solid.” FTX halted customer withdrawals the next day and filed bankruptcy on November 11. See Bombshell Emails Raise Questions about What Sullivan & Cromwell Knew about Fraud at Sam Bankman-Fried’s Crypto Firms.)
As lead counsel in the FTX bankruptcy matter, Sullivan & Cromwell is well aware that the bankruptcy estate is missing $8 billion of looted customer funds. What it bills is highly likely to reduce what the defrauded customers get paid.
Sullivan & Cromwell’s $7.6 million in legal fees for 19 calendar days comes out to $400,000 per day. Annualized, that’s $146 million over the course of a year. The bankruptcy proceeding is expected to last as long as two years.
Another compensation request filed on Tuesday was from a firm advising FTX on restructuring, Alvarez & Marsal. Its legal fees for 20 days in November came in at $5 million while expenses tallied to more than $180,000. Its FTX team devoured meals worth $12,324.88 for which it requested compensation.
https://wallstreetonparade.com/2023/02/ftx-bankruptcy-lawyers-channel-their-inner-sam-bankman-fried-bill-21000-for-their-meals-over-just-20-days/
They (the inet barroons) were based out of the closed Castle AFB in the central Valley in CA and since they leased a big portion of Moffett Federal Airfield in 2014 they probably just moved it there. It used to be NAS Moffett Field.
Brin and Page basically use it as a private airport now-big NASA presence there as well..but it's been an AFB and last military was as Navy and they lasted until late 90's even though they say there was none after 94-that is BS as still had Naval Aviation going on-some of the last U2 flights from the Bay Area were from that base too-before it all moved to Beale further north. NASA Ames Research Center now and that was established when it was still NACA-they built it for the USS Macon and similar blimp program in the 1930s-the big hangar in the cap housed the Macon
All sorts of stuff went on there-built components for the ISS, animal testing-and they said they did none but know they did-empty bags of monkey chow in the garbage bins in the back of the bldg just adjacent to the big wind tunnel that still operates-but that is a different story.
Google Leases NASA's Moffett Field, Historic Hangar for $1.2 Billion
A Google subsidiary will lease a NASA facility in California's Bay Area for $1.16 billion over the next 60 years, agency officials announced Monday (Nov. 10).
Planetary Ventures, LLC will lease Moffett Federal Airfield (MFA), which is currently managed by NASA's Ames Research Center, and restore the facility's historic Hangar One, a huge building that has been a Silicon Valley landmark since the 1930s.
https://www.space.com/27741-google-leases-nasa-moffett-field.html
yup they just let it totally degrade and was a pity too-lotsa history there
They started to rebuild it and stripped all the outer shell off but I don't know how far they got with it-last I saw it was just skeleton
Got to go to the top of it in the mid 90s
Tons of liquor bottles and used rubbers strewn all over the top
>>18316719 pb
Mexi AF FAM3526 737 returning to Mexico City after a stop about 1h 15m at Guadalajara-Zapopan AB
They left from Mex. City Int'l instead of the AB NE of the City as first reported
night