As down - and - out crypto exchange FTX struggles through the miasm of Chapter 11 failure , seeking to recoup funds ask to make customers and investor whole , the fellowship now says there was around $ 3.2 billion dolled out to former CEO Sam Bankman - Fried and five other members of his inner rotary before the collapse .
lately on Wednesday , FTX provided more entropy about executive payments from its most recent bankruptcy motor hotel filings . In apress release , FTX said Bankman - Fried find out $ 2.2 billion in defrayal and loans , most of the money coming from Alameda Research , the hedge stock which was a master aspect of the crypto exchange ’s downfall .
Other approximated payments include :
Sam Bankman-Fried has been in and out of court since late last year after federal prosecutors charged him with multiple counts of fraud and conspiracy regarding the collapse of FTX.Photo: John Minchillo (AP)
$ 587 million to Nishad Singh
$ 246 million to Zixiao “ Gary ” Wang
$ 87 million to Ryan Salame
$ 25 million to John Samuel Trabucco
$ 6 million to Caroline Ellison
The company suppose that over $ 240 million of this money was spent on lavishness dimension in the Bahamas , where the companionship was previously base , as well as political and kindly donations . Some of this prop is in control of the FTX debitor or government authorities . The company suppose it was seek to get this money back from Bankman - Fried and others , but that it could n’t predict how much money they will be able to recover , and when .
After FTX ’s crash last November , it became more and more clear that Bankman - Fried had direct FTX to send customer ’ funds over to Alameda Research , despite the two entity being apparently separate . The bankrupt company has been looking to claw back billions of dollars for its investor , and in late presentationsFTX ’s raw execs say it ’s still trying to find around $ 9 billion in client monetary resource . Those documents also disclose Alameda take over $ 9.3 billion in customer deposits . John Ray III , the new CEO examine to push the troupe through this financial morass , lately say much of these funds are “ wholly lacking . ”
Bankman - Fried , who also die by SBF online , is facing a total ofeight , wait ( checks notes)12 federal chargesfor conducting wire fraud , securities fraud , confederacy , and forviolating U.S. political campaign finance laws . The former FTX CEO has pleaded not guilty , and he ’s presently awaiting trial set to start afterwards this year . SBF has been chronically online since he bring back to the U.S. to face up his bill of indictment , something that hasgot him in fuss with public prosecutor and the judgeover fears he may betrying to cook informant .
Salame , the former FTX Digital Markets co - CEO , had previously flipped on SBF , tipping off the Bahamian regulator about the company ’s going on . Alameda conscientious objector - CEO Trabucco , retired from the society before FTX ’s collapse in 2022 . He ’s since tried hard to stay off the radar . Hislast tweeton Nov. 8 , just when FTX was attempt a Binance buyout , was “ Much love to everyone — I ’m indisputable the past few days have been dark for many and I desire the road ahead is brighter . ”
Several of those other execs , like Singh , Ellison , and Wang are get together with Union prosecutors , the latter two having previously plead guilty . Singh , the company ’s former director of engineering , recentlypled hangdog to fraud charges . Ellison , who channelise up Alameda on SBF ’s behalf , enjoin the feds the hedge fund had “ an limitless line of citation ” with FTX .
Caroline EllisonSam Bankman - electrocute
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