Legal Document: SBF Received Over $1 Billion in Cash Transfers a Year Before FTX Bankruptcy

ChainCatcher news, FTX's debtors submitted a document to the bankruptcy court detailing the massive cash transfers and purchases made by former FTX CEO Sam Bankman-Fried and other company insiders. It is reported that the section titled "Non-Personal Bankruptcy Financial Statements" indicates that SBF received over $1 billion in cash transfers in the year leading up to FTX's bankruptcy.

According to court documents, SBF received a cash transfer of $68.3 million on August 8, 2022, and a cash transfer of $200 million on May 26, 2022. The document lists other transfers made to SBF, including $100 million received on June 7, 2022, as well as several transfers of $10 million each. The document also shows that FTX funds were used by former Alameda Research co-CEO Samuel Trabucco to purchase a yacht valued at over $2.5 million.

Additionally, the document details other significant purchases, including real estate worth millions of dollars purchased in the names of insiders such as former Alameda CEO Caroline Ellison. Transfers made by insiders to political groups are also listed, such as a $500,000 donation made in the name of FTX co-founder Nishad Singh to the People for the Progressive Governance organization.