- The exchange and its affiliates are accused of not paying taxes
- The biggest lawsuit is filed against Alameda Research, for $20.4 billion
- The IRS got the highest priority for refunds
The IRS (Internal Revenue Service) filed 45 lawsuits against FTX and its affiliates in late April. The total claim exceeds $44 billion.
There are two lawsuits against Alameda Research LLC, for $20.4 billion and $7.9 billion.. The IRS accuses the company of failing to pay corporate and partnership income taxes.
In addition to this company, the IRS has made claims against West Realm Shires (a subsidiary of FTX.US), LedgerX, whose sale was recently approved by the court, and Blockfolio.
It is notable that IRS claims are designated as “administrative”. This means that the agency will receive the highest priority for payment in the liquidation of the counterparty.
The agency declined to comment on the situation, citing the fact that the law prohibits the service to disclose details of the case.
We note that the exact amount of FTX assets is still unknown.. Immediately after the bankruptcy there was talk of $5 billion, then $10 billion.
But even if that figure were twice as high, there still wouldn’t be enough money. The IRS claim jeopardizes the very fact that anyone else will be compensated at all.
We previously reported that Amazon released a book on the FTX and SBF bankruptcy. Strange as it may seem, Bankman-Fried does not appear in it as a rogue, but as a kind of hero of Antiquity.