FTX’s current leadership claims that Bankman-Fried and other executives knew that Alameda Research was insolvent when it finalized a nearly $250 million deal to buy stock clearing platform Embed. The team overseeing the bankruptcy of FTX, Alameda Research and the over 100 other companies affiliated with Sam Bankman-Fried’s failed business empire are suing the former FTX CEO, FTX co-founder Gary Wang, and former FTX senior executive Nishad Singh over what they say was a wildly overpriced acquisition just weeks before the exchange's implosion.