Cash Transfers from FTX Funds Revealed: Millions of Dollars Spent

The documents uncovered about FTX revealed that the company purchased a yacht for its former co-CEO Sam Trabucco and exposed significant cash transfers to certain executives.

The documents revealed about the bankrupt crypto exchange FTX included the company’s purchase of a yacht for its former co-CEO Sam Trabucco and the exposure of significant cash transfers to certain executives.

The executives of Alameda Research, a company owned by former FTX CEO Sam Bankman-Fried, were found to have utilized company funds for personal cash transfers, as indicated by the documents. Notably, the files also contain cash transfers exceeding $900 million labeled as “Cash Payment” to Sam Bankman-Fried and other cash transfers directed towards other executives.

Another noteworthy point in these documents was the $2.5 million payment to the American Yacht Group for former Alameda co-CEO Samuel Trabucco. Trabucco had announced his resignation a few months before the company’s collapse and had recently acquired a boat.

Former Alameda CEO Caroline Ellison also expressed her well wishes to Trabucco, stating that she wished him to have a wonderful time on his boat.

Furthermore, prosecutors from the Department of Justice continue to allege that Sam Bankman-Fried misused and embezzled billions of dollars from FTX customer deposits for personal gain.

These recent allegations by the Department of Justice prosecutors point to the legal aspect of the matter, shedding light on the internal workings of FTX, financial transactions of the executives, and particularly providing details about the management of Sam Bankman-Fried.

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