FTX customers accuse hedge fund Olympus Peak of underpaying them for bond sale proceeds

FTX customer Nikolas Gierczyk sued hedge fund Olympus Peak, alleging that the fund bought his claims and made more than $1 million from the trade, but did not pay him the full amount of his proceeds. Gierczyk said Olympus Peak owed him a larger payment because he sold $1.59 million in claims to the hedge fund last year at a "deep discount of 42%," and FTX received approval for a bankruptcy reorganization plan this year that is expected to return 129% to 146% of the value of the claims to customers. Gierczyk pointed out in the lawsuit that his agreement with Olympus Peak clearly stipulated the right to receive additional compensation, but the fund refused to exercise this right. (Bloomberg)