An attorney for the company claims that the defunct cryptocurrency exchange FTX has discovered more than $5 billion (£4.1 billion) in assets.
However, a US bankruptcy court was informed on Wednesday, that it is yet unknown how much money clients have lost.
Sam Bankman-Fried, the former CEO of FTX, is charged by prosecutors of planning an “epic” scam that may have cost investors, clients, and lenders billions of dollars.
A claim that Mr. Bankman-Fried defrauded investors has been met by his plea of not guilty.
“We have located over 5 billion dollars of cash, liquid cryptocurrency and liquid investment securities,” Andy Dietderich, an attorney for FTX, told US Bankruptcy Judge John Dorsey in Delaware.
Mr Dietderich stated the recovered funds do not include assets seized by the Securities Commission of the Bahamas, where FTX was based and where Mr Bankman-Fried was living at the time of his arrest.
The proceedings did not reveal the names of the majority of FTX’s clients and investors who have suffered losses.
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Tom Brady, his ex-wife Gisele Bündchen, and New England Patriots owner Robert Kraft were all addressed in court documents, though.
The 30-year-old was detained in the Bahamas in December and then deported to the US. He is charged with carrying out “one of the largest financial frauds in US history.”
On November 11, FTX, which had a $32 billion market value a year prior, filed for bankruptcy protection. $8 billion in client funds is estimated to have gone missing.
US federal prosecutors accuse Mr. Bankman-Fried of using money from FTX clients without authorization to pay his cryptocurrency company Alameda Research’s debts and make other investments.
Eight criminal charges, including wire fraud, money laundering and crimes related to campaign funding violations, were made public by the prosecution in December. Additionally, claims have been made against Mr. Bankman-Fried by financial regulators.
In connection with their alleged participation in the collapse of the company, Caroline Ellison, the former CEO of Alameda, and FTX co-founder Gary Wang have also been charged. They both reportedly cooperated with the inquiry, according to authorities.
Mr. Bankman-Fried was granted $250 million bail and released from custody at the end of December, with the restriction that he does not leave his parents’ house in California.
Prior to his arrest, he spoke with BBC News and said: “I didn’t knowingly commit fraud. I don’t think I committed fraud. I didn’t want any of this to happen. I was certainly not nearly as competent as I thought I was.”
Source: Bbcnews
