by Miriam Kuepper at Daily Mail
- He faces federal charges related to FTX’s collapse but has pleaded not guilty
- He is detained at his parents’ house in California until the trial starts in October
Sam Bankman-Fried has secretly transferred $2.2billion from FTX to his personal account and $1billion to five members of his inner circle before the cryptocurrency exchange collapsed, according to bankruptcy court filings.
Bankman-Fried and five of his friends transferred $3.2billion in total to their personal accounts as ‘payments and loans’ using funds primarily coming from Alameda Research, a crypto trading hedge fund affiliated with FTX, according to financial statements filed with the bankruptcy court in Delaware on Wednesday night, according to the Financial Times.
John Ray, who was appointed to chief executive of FTX after the Chapter 11 bankruptcy filings in November, has been in charge of location cryptocurrency and other assets in order to return it to millions of FTX customers whose accounts have been frozen since the bankruptcy.
Bankman-Fried is currently facing several federal charges related to FTX’s collapse as he is accused of looting the platform for personal gain as well as securities fraud.
He has pleaded not guilty and is detained at his parents’ house in California until the trial starts in October…