FTX Filing Shows Company Bought Yacht

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Last Updated on September 3, 2023 by Bitfinsider

A recent filing by the FTX debtors, led by CEO John Ray III, detailed how Alameda Research executives benefited from personal financial transfers of company monies.

Over $900 million in transfers to Sam Bankman-Fried labelled simply as “Cash Payment,” $15.5 million in cash transfers, and a single $3.5 million transfer to ex-Alameda CEO Caroline Ellison were included on the list.

The list also included a $2.5 million payout to ex-Alameda co-CEO Samuel Trabucco to the American Yacht Group. When he announced his resignation from the company a few months before it went bankrupt, the trader stated that he had recently purchased a yacht. Ellison commented at the time, “I hope he has a great time on his boat!”

Other Alameda employees referenced in the documents include co-founder Gary Wang and former engineering director Nishad Singh, both of whom have pleaded guilty and are anticipated to testify against Bankman-Fried, and former FTX co-CEO Ryan Salame, who is not expected to testify.

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