Sam Trabucco to Surrender $70 Million in Assets to FTX Creditors
Former Alameda Research co-CEO, Sam Trabucco, has consented to relinquish significant assets, including two luxury apartments and a yacht, amidst the ongoing fallout from FTX's collapse.
Sam Trabucco, the former co-CEO of Alameda Research, has agreed to forfeit several high-value assets to the creditors of the defunct cryptocurrency exchange, FTX. The agreement includes:
- Two San Francisco apartments valued at $8.7 million
- A 53-foot yacht, which he purchased in March 2022 for $2.5 million
- Transfer rights to file claims against FTX, estimated at around $70 million
Trabucco, a member of Sam Bankman-Fried's inner circle and Caroline Ellison's right-hand man, left Alameda Research in August 2022, just before the company, alongside FTX, declared bankruptcy in December. Despite his departure, he has not publicly admitted to any misconduct or awareness of illegal activities at Alameda.
Recent filings indicate that Trabucco received about $40 million in potentially avoidable transfers during his tenure at the firm, showing the extent of financial dealings within the troubled trading entity.
