Disgraced FTX founder Sam Bankman-Fried borrowed $546 million from Alameda Research to purchase Robinhood shares this year, new court documents show. The indicted 30-year-old admitted he and co-fou…
Disgraced FTX founder Sam Bankman-Fried borrowed $546 million from Alameda Research to purchase Robinhood shares this year, new court documents show.
Bankman-Fried claimed he was entitled to the Robinhood stake because he was the sole owner of the holding company, Emergent Fidelity Technologies, incorporated in Antigua, that made the acquisition.But according to the Bahamas court filing, Bankman-Fried admitted to funneling the money from FTX-owned Alameda to Emergent.Alameda, which was run by Bankman-Fried’s ex-paramour Caroline Ellison, has been at the center of FTX’s implosion.
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