FTX management said Sam Bankman-Fried (SBF) and other executives at the bankrupt firm received $3.2 billion in payments and loans, mostly from sister company Alameda Research.
According to information on March 15 statement, SBF received $2.2 billion from this payment. Executives such as former FTX director Nishad Singh, FTX co-founder Gary Wang, former Alameda Research CEO Caroline Ellison, former Alameda Research co-CEO John Samuel Trabucco, and Ryan Salame have accumulated $1 billion in I received a dollar.
Management noted that these payments exclude overages $240 million Ex-Executive Spent on Buying Luxury Real Estate Bahamas and their political and charitable contributions.
The payments also do not include “substantial remittances” to the bankruptcy’s subsidiaries in the Bahamas or elsewhere.
The company added that while some of the properties purchased with the proceeds are under the control of the company or governmental authorities, “the amount and timing of ultimate monetary recovery cannot be predicted at this time.”
Meanwhile, FTX said it was still investigating to identify the company’s “assets, liabilities and transfers, including descriptions of intercompany claims between FTX debtors and its subsidiaries.”
Since being appointed as FTX’s new CEO, John Ray has continued his efforts to reclaim the assets of the bankrupt company.
