{"id":133722,"date":"2024-07-23T09:00:02","date_gmt":"2024-07-23T06:00:02","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=133722"},"modified":"2024-07-22T23:17:38","modified_gmt":"2024-07-22T20:17:38","slug":"ftx-broker-ordered-to-repay-millions-after-misusing-funds","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ftx-broker-ordered-to-repay-millions-after-misusing-funds\/","title":{"rendered":"FTX Broker Ordered to Repay Millions After Misusing Funds"},"content":{"rendered":"

Thomas Braziel, the founder of crypto bankruptcy claims firms 117 Partners and 507 Capital, was found<\/a> <\/strong>guilty of misappropriating funds from a receivership linked to the bankrupt firm Fund.com. According to the Wall Street Journal, a Delaware court ruled last Thursday that Braziel misused the assets he was supposed to liquidate and distribute to investors.<\/p>\n

Instead of fulfilling his fiduciary duties, Braziel indulged in a lavish lifestyle, spending $1 million on hotels, clothing, art, and high-end jewelry, including a sapphire ring and emerald earrings. He also diverted funds into cryptocurrency, other bankruptcy claims, high-risk stocks, and leveraged loans.<\/p>\n

117 Partners has reportedly handled $300 million in FTX bankruptcy claims, and 507 Capital acquired nearly 4,000 Bitcoin in Mt. Gox claims for $1 million.<\/p>\n