Former Alameda Co-CEO Sam Trabucco Agrees to Forfeit $70M, Yacht, Apartments to FTX Creditors

Former co-CEO of Alameda Research, Sam Trabucco, has agreed to hand over two properties and a 53-foot yacht to creditors of failed crypto exchange FTX, a filing shows.

Trabucco, who was part of Sam Bankman-Fried’s inner circle and became Caroline Ellison’s right hand at Alameda Research, the trading firm co-founded by Bankman-Fried, left the company in August 2022, just months before both Alameda and FTX filed for bankruptcy in December of that year.

02:38

‘High Likelihood’ Cardano Founder Charles Hoskinson Will Become Trump’s Crypto Advisor

01:42

Bitcoin Hits New $76K Record High, ETFs Post $620M Inflows

02:41

Bitcoin’s New All-Time High; U.S. BTC Reserve Hopes Fly

16:22

Bitcoin to Reach $100K by December or January: 10x Research Founder

He never publicly acknowledged any wrongdoing or knowledge of criminal activity happening at the firm. However, Trabucco sometimes posted tweets on X revealing aggressive trades and heavy risk taking.

In the filing dated Nov. 3, he agreed to forfeit two apartments worth $8.7 million located in San Francisco, a yacht he bought in March 2022 for $2.5 million and agreed to transfer to the debtors the rights to claims filed against FTX for approximately $70 million.

According to the filing, Trabucco received roughly $40 million in “potentially avoidable transfers” from debtors during his two years at the trading firm.

 

Leave a Reply

Your email address will not be published. Required fields are marked *