Sam Bankman-Fried has parted ways with the white-shoe lawyers helping him as he faces federal investigations into the collapse of his crypto empire, people familiar with the matter said.
Bankman-Fried, the 30-year-old whose FTX exchange and web of related crypto firms unraveled last week, had been working with Martin Flumenbaum at Paul, Weiss, Rifkind, Wharton & Garrison, a dean of the white-collar bar who defended Michael Milken in his securities fraud trial in the 1990s and AIG in its post-2008 dealings with the Justice Department.
“We informed Mr. Bankman-Fried several days ago, after the filing of the FTX bankruptcy, that conflicts have arisen that precluded us from representing him,” Flumenbaum said in a statement.
Bankman-Fried is now represented by Greg Joseph, former president of the American College of Trial Lawyers. Also on his legal team as an advisor is David W. Mills, who teaches criminal law at Stanford Law School, where Bankman-Fried’s parents are both professors, some of the people said.
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