SBF Received A Lion’s Share From FTX Entities, Court Filings Reveal ByEmmaculate NyabokePRO INVESTOR Updated: 16 March 2023 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Join Our Telegram channel to stay up to date on breaking news coverage As per the court filings, the disgraced founder and former CEO of the now-bankrupt crypto empire FTX, Sam Bankman-Fried, allegedly received $2.2 billion from the firm’s entities. What- SBF received the lion’s share of $2.2 billion, as per the financial statements filed at Delaware Bankruptcy Court Why- There have been missing funds since FTX’s collapse, and FTX management has been tracking the funds What Next- the FTX administrators assert that ongoing efforts are expected to result in further identification of assets, liabilities, and transfers SBF and five other members of his inner circle allegedly received $3.2 billion in payments and loans from entities linked to FTX. However, the sitting FTX CEO, John Ray III, has been tracking missing funds. The new management estimates $8.9 billion has been missing since FTX’s collapse. Sharing the FTX Debtors’ press release just issued: https://t.co/r7PlneGSXF — FTX (@FTX_Official) March 16, 2023 According to the FTX Debtors in the financial statements filed in the Delaware Bankruptcy Court on March 15, billions of dollars were transferred to SBF and high-ranking executives. It is alleged that most of these funds came from the trading platform, Alameda Research. Some named executives include FTX co-founder Gary Wang, former FTX director Nishad Singh, and former Alameda Research CEO Caroline Ellison. FTX alleged payments breakdown Further, the financial statements gave a breakdown of the SBF and his inner circle payments as follows: $2.2 billion to Sam Bankman-Fried $587 million to Nishad Singh, the former FTX director $246 million to Zixiao “Gary Wang,” the former FTX co-founder $87 million to Ryan Salame, former co-CEO of FTX’s Bahamian entity $25 million to John Samuel Trabucco, former co-CEO of Alameda Research trading platform $6 million to Caroline Ellison, former chief executive of Alameda Additionally, the filing noted that the amounts excluded over $240 million spent to acquire purchases. The purchases include luxury property in the Bahamas, charitable and political donations, and substantial transfers to non-FTX subsidiaries. However, the FTX administrators are investigating its rights to pursue legal action against the recipients and their subsequent transferees. Notably, they asserted that the ”ongoing efforts are expected to identify assets, liabilities, and transfers further.” SBF and other executives Mr. Bankman pleaded not guilty to all eight charges related to conspiracy, wire fraud, and securities fraud. On the other hand, Caroline, Gary, and Singh pleaded guilty to similar charges related to SBF and are cooperating with the investigators. However, SBF is awaiting his trial, scheduled for October this year. More News: Is SBF Going to Appear Before the US Hearings This Week? Crypto markets optimistic over the Credit Suisse crisis Love or Hate Elon Musk? Now You Can Earn Crypto by Voting on His Next Move Love Hate Inu - Newest Meme Coin Rating Decentralized Polling - Vote to Earn Early Access Presale Live Now Ethereum Chain Featured in Yahoo Finance Mint Memes of Survey Results as NFTs Staking Rewards Viral Potential, Growing Community Learn More Join Our Telegram channel to stay up to date on breaking news coverage