Alleged Improper Use of FTX Funds for the Purchase of a $2.5 Million Yacht

It's alleged that funds from Sam Bankman-Fried's FTX were used to buy a $2.5-million yacht, thought to be a gift for Sam Trabucco, the ex-co-CEO of Alameda Research. Court filings from July 31 and August 31 reveal a detailed account of transactions leading up to FTX's bankruptcy, including a $2.5 million payment to the American Yacht Group on behalf of Trabucco.



Trabucco, an early hire at trading firm Alameda, a sister company to FTX, resigned on August 24, 2022, stating he could no longer justify his role and wanted to focus on other aspects of his life. Less than three months after his departure, both Alameda and FTX filed for bankruptcy.



A playful reference to the yacht was made in a farewell message from Caroline Ellison, Trabucco's former co-CEO. A 2022 Financial Times article also noted that Trabucco had acquired a 52-foot


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