Sam Bankman-Fried, the former CEO of FTX, allegedly took $300 million of the $420 million fund collected for FTX for himself.
Claims about SBF are increasing day by day.
Sam Bankman-Fried Puts Funds In His Own Pocket
According to FTX financial records obtained by the Wall Street Journal, the former CEO of bankrupt FTX put most of the funds raised in his own pocket in a multi-investor funding round in October 2021.
“Mr. Bankman-Fried told investors that Binance has a partial repayment of the money it spent buying its FTX stake.”
It is stated that Sam Bankman-Fried bought about 15% of Binance’s stake in the company three months before the $420 million funding round. SBF paid approximately $2.1 billion to Binance CEO CZ. John Ray, the current CEO of FTX, questions where SBF got the money.
In the report, it was stated that it was unclear what exactly the $ 300 million was used for.
According to The Wall Street Journal, FTX continued to raise funds in January 2022, with an inflow of $400 million.
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