March 16 (Reuters) – Bankrupt cryptocurrency trade FTX made transfers of about $2.2 billion to firm founder Sam Bankman-Fried by means of associated entities, the corporate’s new administration mentioned.
Total greater than $3.2 billion was transferred by means of funds and loans to firm founders and key workers, FTX mentioned in an announcement on Wednesday.
These funds had 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 court docket.
The crypto trade mentioned the transfers didn’t embrace over $240 million spent to buy luxurious property within the Bahamas, political and charitable donations made straight by the FTX debtors, and substantial transfers to non-debtor models 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 trade. FTX’s new CEO, John Ray, has mentioned his prime precedence was recovering property to repay FTX prospects. learn extra
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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 thousands and thousands of {dollars} in unlawful political donations to purchase affect in Washington, D.C.
He denies wrongdoing and is preventing to remain out of jail pending his scheduled Oct. 2 fraud trial. learn extra
Reporting by Shubhendu Deshmukh in Bengaluru; Enhancing by Stephen Coates
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