Binance and its founder, Changpeng Zhao, subpoenaed investor Kevin O’Leary and author Michael Lewis for evidence in a $1.76 billion lawsuit brought by FTX Recovery Trust and FTX Digital Markets, Bloomberg Law reported, citing a court notice. The requests also reached former Forbes staffer Steven Ehrlich and accounting firm BDO USA PC.
The plaintiffs seek to recover a payment from a July 2021 share repurchase that they allege Alameda Research funded while FTX was insolvent. Binance and Zhao contest the allegations. A July 24 ruling allowed the recovery claims against Zhao and four Binance entities to proceed, but the repayment dispute remains unresolved; the source does not give a year for that ruling.
