{"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":"<p>Thomas Braziel, the founder of crypto bankruptcy claims firms 117 Partners and 507 Capital, was <strong><a href=\"https:\/\/www.wsj.com\/articles\/ftx-claims-broker-thomas-braziel-stole-1-9-million-from-a-receivership-for-personal-gain-court-says-d3375130\">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<p>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<p>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<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/worldcoin-faces-allegations-of-price-manipulation-and-market-control\/\" title=\"Worldcoin Faces Allegations of Price Manipulation and Market Control\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2023\/08\/worldcoin-orb-214-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Worldcoin Faces Allegations of Price Manipulation and Market Control<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>The embezzlement investigation into Braziel began in 2022 after a shareholder accused him of stealing $3 million. Despite attempts to hide his misdeeds, Braziel eventually conceded to the findings. He has been ordered to repay the amount within 20 days.<\/p>\n<p>Braziel had posted on Thursday, \u201cI\u2019m on a wave \u2014 I\u2019m very lucky \u2014 but I\u2019m not letting go,\u201d though this message has since been deleted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An FTX claims broker with experience in Mt Gox, Celsius, and Voyager Digital cases has been mandated to return $1.9 million after using embezzled funds for personal luxury and crypto investments.<\/p>\n","protected":false},"author":3,"featured_media":32890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[26],"tags":[],"class_list":["post-133722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocrime"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FTX Broker Ordered to Repay Millions After Misusing Funds - 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