FTX administration stated Sam Bankman-Fried (SBF) and different prime executives of the bankrupt agency acquired $3.2 billion in funds and loans — primarily from its sister firm, Alameda Analysis.
In response to a March 15 assertion, SBF acquired $2.2 billion from this payout. Different executives like former FTX director Nishad Singh, FTX co-founder Gary Wang, former Alameda Analysis CEO Caroline Ellison, former Alameda Analysis co-CEO John Samuel Trabucco and Ryan Salame cumulatively acquired $1 billion.
The administration famous that these funds excluded the over $240 million the previous executives spent on buying luxurious properties within the Bahamas and their political and charitable donations.
The funds additionally excluded “substantial transfers” made to the bankrupt’s agency subsidiaries within the Bahamas and different areas.
The agency added that whereas a few of the properties bought with the proceeds are in its management or that of presidency’s authorities, your entire “quantity and timing of eventual financial recoveries can’t be predicted at the moment.”
In the meantime, FTX stated it’s nonetheless investigating to establish the agency’s “belongings, liabilities and transfers, together with an outline of intercompany claims among the many FTX Debtors and their subsidiaries.”
Since he was appointed FTX’s new CEO, John Ray has been engaged on efforts to recoup the bankrupt agency’s belongings.
