Sam Bankman-Fried Took Multiple Personal Loans From His Company, New FTX CEO Says

Dec 13 2022 by The Daily Beast

 
Elizabeth Frantz/Reuters

Sam Bankman-Fried, the disgraced founder of crypto exchange FTX, took multiple personal loans totaling a billion dollars or more from his trading company, Alameda Research, FTX’s new CEO testified before Congress Tuesday.

Bankman-Fried, who was arrested Monday on charges of wire fraud, conspiracy to defraud the United States, and more, told regulators he re-invested the money back into the exchange. But Ray says there is no documentation of what the loans were for...

Continue Reading Sam Bankman-Fried Took Multiple Personal Loans From His Company, New FTX CEO Says