A high-profile crypto investor has been ordered by a Delaware court to pay back nearly $2mn he was found to have looted from a failed company he was appointed to oversee.
The decision on Thursday largely confirmed a court-appointed investigator’s conclusion that Thomas Braziel had appropriated funds from a listed company known as Fund.com, which were used to invest in “bankruptcy claims, cryptocurrency, leveraged loans, and high-risk equities”, as well as a Bermuda hotelier.
Braziel spent nearly $1mn of company funds on such items as a sapphire ring, diamond earrings, a watch and “luxury hotel stays, apparel, art, and other fineries”, according to the ruling from the Delaware Court of Chancery.
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