Bankrupt cryptocurrency change FTX made transfers of about $2.2 billion to firm founder Sam Bankman-Fried by way of associated entities, the corporateâs new administration mentioned.
General greater than $3.2 billion was transferred by way of funds and loans to firm founders and key staff, FTX mentioned in an announcement on Wednesday.
These funds have been made mainly from Alameda Analysis hedge fund, FTX mentioned, including that it made these disclosures by submitting schedules and statements of economic affairs with the chapter courtroom.
The crypto change mentioned the transfers didn’t embrace over $240 million spent to buy luxurious property within the Bahamas, political and charitable donations made immediately by the FTX debtors, and substantial transfers to non-debtor items within the Bahamas and different jurisdictions.
A lawyer for Bankman-Fried declined to remark.
FTX filed for chapter safety in November, saying it was unable to utterly repay prospects who had deposited funds on its change. FTXâs new CEO, John Ray, has mentioned his high precedence was recovering property to repay FTX prospects.Â
Prosecutors have charged Bankman-Fried, 31, with stealing billions of {dollars} in FTX buyer funds to plug losses at Alameda Analysis, and making tens of hundreds of thousands of {dollars} in unlawful political donations to purchase affect in Washington, DC.
He denies wrongdoing and is preventing to remain out of jail pending his scheduled Oct. 2 fraud trial.Â
