FTX investors sue Silicon Valley law firm Fenwick & West, accusing it of aiding funds misappropriation by the SBF team

BlockBeats News, August 12th. According to Decrypt, FTX investors have filed lawsuits against Silicon Valley law firm Fenwick & West in multiple jurisdictions, alleging its "deep involvement" in the collapse of FTX and its assistance in designing shell companies and structures to help the SBF team embezzle billions of dollars of customer funds. This law firm is the only one among the 130 firms that partnered with FTX to be accused of being knowledgeable and substantially aiding in the perpetration of fraud. The plaintiffs claim that Fenwick designed, approved, and implemented shell companies, including North Dimension, to conceal the flow of customer funds, evade regulation, and leverage its reputation to help FTX attract over $1.3 billion in funding. An independent auditor's report indicated that the firm was involved in nearly every aspect of FTX Group's misconduct and provided legal advice knowing that customer funds were being misappropriated.