FTX Says Bankman-Fried Took .2 Billion
Liquidators at FTX said that founder Sam Bankman-Fried had received $2.2 billion in “loans and payments” while he was allegedly running a massive fraud at the crypto exchange. From a report: According to FTX’s bankruptcy court filing, Bankman-Fried got more than $2 billion in loans — primarily through Alameda Research, the hedge fund he founded that lost big on bad investments, then misused customer deposits from FTX accounts in an attempt to cover those losses. Bankman-Fried wasn’t the only executive-roommate to be paid via Alameda: Former director of engineering Nishad Singh got $587 million, co-founder Gary Wang got $246 million, former co-CEO Ryan Salame got $87 million, and former Alameda co-CEO John Samuel Trabucco got $25 million. Caroline Ellison, Bankman-Fried’s ex-girlfriend and ex-CEO at Alameda, was more frugal, receiving just $6 million in loans and payments. New management at FTX was careful to note that the $3.2 billion that FTX’s and Alameda’s top earners essentially lent themselves does not include the $240 million they spent on luxury property in the Bahamas or the political donations given directly by FTX.

Read more of this story at Slashdot.

Go to Source of this post
Author Of this post: BeauHD

By admin