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<a href="https://bitcoinworld.co.in/swiss-prosecutor-raids-tyr-capital-partners-over-ties-with-ftx/" title="Swiss Prosecutor Raids Tyr Capital Partners Over Its Ties With FTX" rel="nofollow"></a>
Raided by a Swiss prosecutor, Tyr Capital Partners is facing accusations of criminal mismanagement due to its ties with FTX. 
The Switzerland-based crypto hedge fund, Tyr Capital Partners, came under scrutiny in August 2023 after investors raised concerns about its failure to adhere to internal risk limits regarding its exposure to the now-defunct FTX crypto exchange, the Financial Times <a href="https://www.ft.com/content/2bfc1f50-3b5e-4bd1-99be-8a111e4b8dc4">reports</a>, citing legal documents filed in the Cayman Islands. 
The legal action against Tyr Capital Partners was reportedly brought by TGT, another hedge fund that had invested with Tyr.&nbsp; 
TGT is currently seeking to wind up the portfolio and gain control of the remaining assets, which include a $22 million claim against FTX, the report says.&nbsp; 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/ftx-secretly-used-deltec-bank-to-create-and-sell-tether-for-profit-lawsuit-alleges/" aria-label="“FTX Secretly Used Deltec Bank To Create And Sell Tether For Profit, Lawsuit Alleges” (Edit)">FTX Secretly Used Deltec Bank To Create And Sell Tether For Profit, Lawsuit Alleges</a> 
Despite the allegations, Tyr, which manages assets totaling $140 million, has denied any wrongdoing. 
According to TGT, the firm had warned Tyr’s chief investment officer, Edouard Hindi, about FTX’s financial instability between Nov. 7 and Nov. 10, 2022, just days before the exchange collapsed.&nbsp; 
However, Tyr Capital Partners allegedly attempted to withdraw its assets from FTX around Nov. 11, the same day the exchange filed for bankruptcy, according to the legal filing. 
Additionally, TGT lodged a criminal complaint against Tyr with the Geneva prosecutor’s office in April 2023, citing suspicions of “criminal management” and requesting a “dawn raid” on the fund manager’s premises.&nbsp; 
A spokesperson for the Geneva prosecutor confirmed that the investigation is still ongoing. 
FTX made headlines in November 2022, when it filed for <a href="https://bitcoinworld.co.in/ftx-files-to-exit-bankruptcy-and-repay-billions-to-affected-customers/">Chapter 11 bankruptcy</a>, disclosing an $8 billion deficit in its accounts, leading to its formal declaration of bankruptcy.&nbsp; 
Its founder, Sam Bankman-Fried, faces potential imprisonment of up to 100 years on multiple charges in connection with the exchange’s collapse. 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/swiss-prosecutor-raids-tyr-capital-partners-over-ties-with-ftx/">Swiss Prosecutor Raids Tyr Capital Partners Over Its Ties With FTX</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Swiss Prosecutor Raids Tyr Capital Partners Over Its Ties With FTX

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