Another revelation in the FTX case links Sam Bankman-Fried and other top executives to $3.2 billion from FTX-linked entities.

According to the FTX Debtor statement on March 15th, billions of dollars in loans and payments were transferred to Sam Bankman-Fried and five other top executives of FTX and Alameda Research.

It is worth noting that the majority of funds came from FTX’s sister company Alameda Research.

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According to the report, Sam Bankman-Fried, the FTX and Alameda Research co-founder and former FTX CEO, received about 68% of all funds.

Other people listed in the transactions are FTX co-founder Gary Wang, FTX director Nishad Singh, former Alameda Research CEO Carolin Elison, Former co-CEO of FTX Digital Markets Ryan Salame, and former co-CEO of Alameda Research John Samuel Trabucco.

The report provides a rough payment breakdown to former executives as follows:

    • $2.2 billion to Sam Bankman-Fried
    • $246 million to Zixiao “Gary” Wang 
    • $587 million to Nishad Singh 
    • $25 million to John Samuel Trabucco 
    • $87 million to Ryan Salame
    • $6 million to Caroline Ellison

These figures do not count questionable expenditures worth over $240 million, which include purchasing a property in the Bahamas, political and charitable donations, and transfers to non-Debtor subsidiaries. FTX Debtors are still investigating “causes of action against the recipients of these transfers and their subsequent transferees.”

FTX administrators, now led by CEO John Ray III, were tasked with restructuring the firm following its collapse in November 2022. The team has been tracking approximately $8.9 million that went missing when the exchange collapsed.

Sam Bankman-Fried has been at the center of the FTX case. The mastermind behind FTX is facing 12 charges relating to fraud and conspiracy. However, SBF pleaded not guilty to the first eight charges. On the other hand, Ellison, Wang, and Sing pleaded guilty to similar charges.

Gile K. - Crypto Analyst

by Gile K. – Crypto Analyst, BitDegree

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