Disgraced FTX founder Sam Bankman-Fried obtained near a billion {dollars} in money funds within the months main as much as the chapter of the crypto alternate.
A current court docket submitting exhibits that Bankman-Fried started to gather tens of millions of {dollars} in money funds from FTX as early as January 2022 till October of the identical 12 months, a month earlier than the alternate imploded.
The paperwork additionally reveal that the previous FTX CEO obtained money funds to the tune of $200 million on two separate events.
All in all, Bankman-Fried wolfed up greater than $905 million from FTX in a interval of 9 months.
Bankman-Fried is presently awaiting trial and has been charged with defrauding buyers and mishandling billions of {dollars} value of buyer funds associated to FTX’s collapse final 12 months. If convicted, he faces many years behind bars.
The FTX founder is just not the one ex-executive who benefited from the funds of the now-defunct FTX empire.
Courtroom paperwork present that FTX shelled out $2.513 million to pay for the yacht of Sam Trabucco, the previous co-CEO of FTX’s buying and selling arm Alameda Analysis. The transaction occurred lower than six months earlier than Trabucco left the agency.
In the meantime, Caroline Ellison, who can be a former co-CEO of Alameda, obtained $3.5 million in money funds in September 2022.
Others who collected tens of millions of {dollars} in money funds from the bankrupt crypto alternate embrace former FTX executives Gary Wang, Ryan Salame, Nishad Singh and Jonathan Cheesman.
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