Venture Capitalist Kevin O’Leary Says He Plans To Recover Lost Funds From FTX Collapse After Full Investigation
Shark Tank star Kevin O’Leary says that he has plans to recover the funds he lost from collapsed crypto exchange FTX.
In a new interview with Yahoo Finance, O’Leary says that FTX should undergo a full forensic audit so customers and investors can locate and reclaim their lost funds as most of them don’t have a clear path to recovery yet.
According to the venture capitalist, he’s one of the aggrieved parties that cannot track down the money he invested into the firm.
“I’m one of them. That’s exactly what happened to me, and I intend to fix it. I’m gonna go after that money, I want it back, I have the resources to do it, I’m very fortunate that I have millions of followers, I’m going to take them on the journey and I’m going to get the money back.
And where the chips fall, I have no idea. Who’s going to jail? I have no idea. Who was fraudulent? I have no idea, but I will find them because this is 100% auditable.
I don’t care if it takes three, four, five, six, seven years, it doesn’t matter to me, you can’t take my money and expect me to do nothing, I go after it, just like other institutions will do the same thing.”
The business magnate goes on to urge FTX founder Sam Bankman-Fried and the firm handling the crypto exchange’s insolvency to be transparent and disclose the facts behind the crypto exchange’s disintegration.
“Every lawyer and his dog is going after this thing right now, trying to figure out what happened. But we don’t know anything yet. So why don’t we just get the facts first? And if Sam Bankman-Fried can shine light on the facts – because from what I understand, he’s been kicked out of the company, he has no access to even his emails, he has no information past the moment the company went into Chapter 11…
We also have to talk to those that are going to go through the bankruptcy process, and that’s the same team that did Enron, and what I want from them is total transparency on everything, including access to my account and all the information there. And we have regulators all around the world pursuing that same information.
Before this is over, I’ll be able to, in my own team, reconstruct every single transaction that occurred because you can’t take them off the blockchain and I’ll access them by the time I finish litigating every transfer.”
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