Says prosecutors,<\/p>\n
\u201cAs early as 2018, Bankman described Alameda as a \u2018family business\u2019 \u2014 a phrase he repeatedly used to refer to the FTX Group.\u201d<\/em><\/p>\n However, Bankman and Fried\u2019s lawyers say the allegation is \u201ca dangerous attempt to intimidate Joe and Barbara and undermine the jury process just days before their child\u2019s trial begins.\u201d<\/p>\n The allegations are the latest that suggest illegal payments were laundered through the former crypto exchange.<\/p>\n Earlier this month, a court filing showed<\/a> that Bankman-Fried began to collect millions of dollars in cash payments from FTX as early as January 2022 until October of the same year, a month before the exchange imploded.<\/p>\n The documents also reveal<\/a> that the former FTX CEO received cash payments to the tune of $200 million on two separate occasions.<\/p>\n Court documents also show that FTX shelled out $2.513 million to pay for the yacht of Sam Trabucco, the former co-CEO of FTX\u2019s trading arm Alameda Research. The transaction happened less than six months before Trabucco left the firm.<\/p>\n Meanwhile, Caroline Ellison, who is also a former co-CEO of Alameda, received $3.5 million in cash payments in September 2022.<\/p>\n Others who collected millions of dollars in cash payments from the bankrupt crypto exchange include former FTX executives Gary Wang, Ryan Salame, Nishad Singh and Jonathan Cheesman.<\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em> Generated Image: Midjourney<\/em><\/span><\/p>\n
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