Ex- Alameda joint CEO Sam Trabucco, has agreed to transfer his yacht, apartment and a $70 Million claim ownership to creditors of the bankrupt crypto exchange, FTX.
According to the court filing dated 10 November, Trabucco has also conceded to hand over the legal title to two apartments in San Francisco, bought in 2021 for a total amount of $8.7 million.
Other transfers include the 53-foot boat that Trabucco had bought for a whopping $2.51 million in March 2022, just a few months before his exit in August 2022.
The ex-CEO will transfer all rights to approximately $70 million in claims filed against FTX to the debtors, and these claims will be dismissed.
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Trabucco and Caroline Ellison, who has been sentenced to two years of jail, were appointed Alameda’s co-CEOs in August 2021 by Sam Bankman-Fried.
FTX, Alameda and related entities had finally filed for bankruptcy in November 2022, after fraudulently using customer funds.
In October, a court granted FTX permission to fully reimburse customers whose digital assets had been frozen on the platform. According to the filing, Trabucco’s settlement was dated Nov. 3, the filing said. A hearing to approve the settlement is scheduled for December 12.
A recent report revealed that FTX has filed a lawsuit against Binance and CZ on Sunday, seeking to recover approximately $1.8 billion in assets.
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Also Read: FTX Files Lawsuit Against Crypto.Com to Recover $11M
