2 years ago
The FTX debtors filed a bankruptcy tribunal papers detailing lavish currency transfers and purchases by erstwhile CEO Sam Bankman-Fried and different institution insiders. The conception titled “Statement of Financial Affairs for Non-Individuals Filing for Bankruptcy” shows that Bankman-Fried reportedly received much than $1 cardinal successful currency transfers successful the twelvemonth earlier FTX’s collapse.
FTX Bankruptcy Filing Details Lavish Cash Transfers and Purchases for Former CEO Bankman-Fried
Recent court documents bespeak Sam Bankman-Fried allegedly received currency payments of $68.3 cardinal connected Aug. 8, 2022, and $200 cardinal connected May 26, 2022. The papers lists different payments to Bankman-Fried, including $100 cardinal connected June 7, 2022, and $10 cardinal connected respective different dates. The filings besides suggest FTX funds were utilized to acquisition a yacht for erstwhile Alameda Research co-CEO Samuel Trabucco, valued astatine much than $2.5 million.
The papers details different lavish purchases, including multimillion-dollar existent property successful the names of insiders similar erstwhile Alameda CEO Caroline Ellison. Transfers to governmental groups connected behalf of insiders are besides listed, specified arsenic a $500,000 donation successful the sanction of FTX co-founder Nishad Singh to the People for the Progressive Governance.
Bankman-Fried has pleaded not blameworthy to transgression fraud charges related to the alleged misuse of FTX lawsuit deposits. Former FTX elder members Gary Wang, Ellison, and Singh reportedly person agreed to plea deals with U.S. instrumentality enforcement. Former FTX co-CEO Ryan Salame intends to invoke his Fifth Amendment rights and has reportedly declared himself “unavailable arsenic a witness.”
Reports accidental Samuel Trabucco was past seen successful the Bahamas successful the outpouring of 2022, visited by erstwhile MIT classmates. He besides traveled to Las Vegas successful July of that twelvemonth for MIT’s Mega-Pi reunion. These are the past known nationalist sightings of Trabucco, and his existent determination is unknown. The crypto assemblage has been speculating astir Trabucco’s activities since FTX’s collapse. Trabucco’s 52-foot yacht called “Soak my Deck,” was archetypal reported backmost successful December 2022 successful an editorial published by the Financial Times.
What bash you deliberation astir the caller tribunal filing that details Bankman-Fried’s alleged currency transfers and Trabucco’s reported yacht purchase? Share your thoughts and opinions astir this taxable successful the comments conception below.
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