FTX to Collect $404 Million in Proposed Deal With Modulo
- FTX says deal returns money Bankman-Fried wrongly transferred
- Settlement avoids a costly legal fight in FTX bankruptcy case
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FTX Group will recover about $404 million that its disgraced founder Sam Bankman-Fried allegedly transferred to the investment fund Modulo Capital, according to a proposed bankruptcy settlement made public Wednesday.
The agreement adds to the slowly growing pot of money FTX has been trying to collect since the crypto firm filed bankruptcy last year.