by Thomas Barrabi at New York Post
A top-ranking FTX executive last month flipped on Sam Bankman-Fried and his allies by tipping off Bahamian regulators about alleged malfeasance — two days before the doomed crypto platform filed for bankruptcy, according to court filings.
Ryan Salame, who served as co-CEO of FTX Digital Markets prior to its collapse, tipped off officials on Nov. 9 that FTX client funds were being secretly transferred to “cover financial losses” at Alameda Research — the sister cryptocurrency hedge fund also owned by Bankman-Fried.
The 29-year-old Salame told regulators that only three FTX executives had the authority required to approve the cash transfers — Bankman-Fried, FTX co-founder Gary Wang and former director of engineering Nishad Singh.
During a conference call with the executive director of the Bahamas’ Securities Commission, Salame said that “such transfers were not allowed and therefore may constitute misappropriation, theft, fraud or some other crime,” the filings said, according to Bloomberg.
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