Key Takeaways:




Sam Bankman-Fried and five other former FTX and Alameda Research executives received billions of loans and payments from FTX entities.



The management of FTX stated that it is looking into its legal options for taking possible legal action.




The former executives of FTX and Alameda Research got payments and loans totaling $3.2 billion from FTX-affiliated companies, according to the FTX administrators in charge of the company’s restructuring.



Since the collapse of the exchange, FTX, now led by CEO John Ray III, has been investigating the disappearance of the exchange’s assets. It predicts that $8.9 billion is gone altogether.



Sam Bankman-Fried and senior executives are reportedly beneficiaries of billions of dollars in debts and settlements, corresponding to a March 15 announcement from FTX Debtors. Most of these payments are said to have come from the trading firm Alameda Research.



But according to reports, Bankman-Fried took home the majority of the money, $2.2 billion. The roster includes former Alameda Research CEO Caroline Ellison, co-founder of FTX Gary Wang, and former FTX director Nishad Singh.



It gave the following general summary of the payments made to the FTX executives:




$2.2 billion to Sam Bankman-Fried



$587 million to Nishad Singh



$246 million to Zixiao Gary Wang 



$87 million to Ryan Salame



$25 million to John Samuel Trabucco



$6 million to Caroline Ellison




It was noted that the sums do not include more than $240 million, used for various purchases, including opulent Bahamas real estate, contributions to political and charitable causes, and “substantial transfers” to non-FTX subsidiaries.



The management of FTX stated that it is looking into its legal options for taking possible legal action against the recipients and their later transferees and that current efforts are anticipated to lead to the further determination of assets, liabilities, and transfers.



With the purported mismanagement of funds at FTX and its affiliates, Bankman-Fried faces 12 charges, including conspiracy, wire fraud, and securities fraud. To eight similar initial charges, he had earlier entered a not-guilty plea.



Federal prosecutors’ investigations are being assisted by Ellison, Wang, and Singh , who have admitted guilt to charges related to those filed against Bankman-Fried.



Salame alerted Bahamian regulators to possible fraud at FTX , prompting them to close the exchange merely two days later, on November 11. This is the first known incident of an executive from FTX or Alameda helping law enforcement.