FTX administration mentioned Sam Bankman-Fried (SBF) and different high executives of the bankrupt agency obtained $3.2 billion in funds and loans — primarily from its sister firm, Alameda Analysis.
In line with a March 15 assertion, SBF obtained $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 obtained $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 number of the properties bought with the proceeds are in its management or that of presidency’s authorities, all the “quantity and timing of eventual financial recoveries can’t be predicted right now.”
In the meantime, FTX mentioned it’s nonetheless investigating to determine the agency’s “property, 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 property.
