Sam Bankman-Fried secretly transferred $2.2bn from FTX to his personal account

Sam Bankman-Fried secretly transferred $2.2billion from FTX to his personal account and $1billion to five members of his inner circle before the cryptocurrency exchange collapsed, according to bankruptcy court filings.

Bankman-Fried and five of his friends transferred $3.2billion in total to their personal accounts as ‘payments and loans’ using funds primarily coming from Alameda Research, a crypto trading hedge fund affiliated with FTX, according to financial statements filed with the bankruptcy court in Delaware on Wednesday night, according to the Financial Times. 

John Ray, who was appointed chief executive of FTX after the Chapter 11 bankruptcy filings in November, has been in charge of locating cryptocurrency and other assets in order to return it to millions of FTX customers whose accounts have been frozen since the bankruptcy. 

Bankman-Fried is currently facing several federal charges related to FTX’s collapse as he is accused of looting the platform for personal gain as well as securities fraud.

He has pleaded not guilty and is detained at his parents’ house in California until the trial starts in October. 

Bankman-Fried (pictured) and five of his friends transferred $3.2billion in total to their personal accounts as ‘payments and loans’ using funds primarily coming from Alameda Research, a crypto trading hedge fund affiliated with FTX, according to financial statements filed with the bankruptcy court in Delaware on Wednesday night

Three FTX insiders – Nishad Singh (left), Gary Wang (right) and Caroline Ellison – have previously pleaded guilty are co-operating with prosecutors

Ellison (left) is the former head of Alameda who received $6million and told prosecutors that she had access to ‘an unlimited line of credit on FTX.com’. Another two former FTX executives, Ryan Salame (right) and John Samuel Trabucco, have reportedly received more than $100million combined

Not included in the $3.2billion he is accused of taking are a $240million ‘luxury property in the Bahamas’, ‘political and charitable donations’ and ‘substantial transfers’ to subsidiaries, according FTX’s management.

Three FTX insiders – Nishad Singh, Gary Wang and Caroline Ellison – have previously pleaded guilty are co-operating with prosecutors.

They were transferred more than $800million, according to FTX. 

Ellison is the former head of Alameda who received $6million and told prosecutors that she had access to ‘an unlimited line of credit on FTX.com’, according to the Financial Times. 

Another two former FTX executives, Ryan Salame and John Samuel Trabucco, have reportedly received more than $100million combined.