Creditors sue FTX bankruptcy administrator for misusing funds to pay for luxury hotels and travel expenses
the FTX bankruptcy trustee has been sued by creditor Lidia Favario for extravagant spending. Favario pointed out that the bankruptcy trustee's expenses in handling the FTX bankruptcy proceedings were too luxurious, including high-end hotel accommodations and excessive transportation costs. She mentioned that A&M professionals spent $971.74 to stay in a luxury hotel in New York for one night, and one professional spent $1,733 on a taxi ride.
In addition, FTX also paid $2,683 for three taxis to wait for CEO John Ray's testimony. Favario called on the court to expand the scope of cost review to ensure compliance with the Department of Justice's reasonable expense standards.
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