FTX law firm Fenwick & West sued for $525M over alleged fraud concealment

Fenwick & West, a law firm that represented FTX, is facing a $525 million lawsuit for its alleged role in concealing the exchange's fraud, Cointelegraph reported. A group of 20 FTX victims claims the firm not only represented the company but also helped build the foundation that allowed the fraudulent activities to continue. The lawsuit specifically cites testimony from former FTX Director of Engineering Nishad Singh, who allegedly informed Fenwick lawyers about the misuse of customer funds. The plaintiffs assert that instead of reporting the issue, the firm advised on methods to conceal it. The suit further alleges deep involvement in the FTX Group's illegal activities, including the establishment of shell companies to hide the flow of funds.