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Cryptocurrency News Articles
Former Alameda Co-CEO Sam Trabucco Agrees to Forfeit $70M, Yacht, Apartments to FTX Creditors
Nov 12, 2024 at 06:03 am
Trabucco agreed to forfeit apartments worth $8.7 million and a 53-foot yacht as well as the rights to claims filed against FTX for about $70 million, a filing shows.
Former Alameda co-CEO Sam Trabucco has agreed to forfeit two properties and a 53-foot yacht to creditors of failed crypto exchange FTX, according to a filing.
The filing, dated Nov. 3, shows that Trabucco agreed to forfeit two San Francisco apartments valued at $8.7 million, a yacht he purchased in March 2022 for $2.5 million and the rights to claims filed against FTX for about $70 million, which will be transferred to the debtors.
Trabucco, who was part of Sam Bankman-Fried's inner circle and became Caroline Ellison's right hand at Alameda, the trading firm co-founded by Bankman-Fried, left the company in August 2022. This was just months before both Alameda and FTX filed for bankruptcy in December of that year.
Trabucco has never publicly acknowledged any wrongdoing or knowledge of criminal activity at the firm. However, he did occasionally post tweets on X revealing aggressive trades and heavy risk taking.
According to the filing, Trabucco received roughly $40 million in “potentially avoidable transfers” from debtors during his two years at the trading firm.
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