Sam Trabucco, the former co-CEO of Alameda Research, is set to forfeit a range of assets, including luxury real estate and a super yacht, as part of a proposed settlement with the FTX estate. Court filings from November 11 revealed that Trabucco will relinquish two San Francisco apartments valued at $8.7 million, a $2.5 million yacht, and $70 million in disputed customer claims tied to the collapsed crypto exchange.
Trabucco, who was deeply involved in Sam Bankman-Fried’s crypto empire, received $40 million in “potentially avoidable transfers” during his tenure at Alameda, according to the settlement documents. As one of the closest allies of Bankman-Fried, Trabucco played a central role at Alameda Research, working alongside Caroline Ellison and overseeing the hedge fund’s operations.
Trabucco’s departure from Alameda in August 2022 came months before FTX filed for bankruptcy in November. Despite his key role in the firm, he has largely avoided media attention and has not entered into a plea deal, nor has he testified in court. His lack of public involvement contrasts with other former executives like Ellison, Gary Wang, and Nishad Singh, who have pleaded guilty and cooperated with federal prosecutors.
FTX, following its bankruptcy, is working to recover assets and distribute an estimated $16 billion to creditors. Lawyers for the estate are also pursuing lawsuits against major players in the crypto space, including Binance’s founder Changpeng Zhao and Crypto.com, as they continue their efforts to reclaim lost funds.
Trabucco’s forfeiture marks another significant step in the ongoing legal and financial fallout from the collapse of FTX and its affiliated entities, though his future remains uncertain in the wake of the crypto scandal.
Related topics:
Caroline Ellison Begins Two-Year Sentence for Role in FTX Fraud
WonderFi CEO Dean Skurka Kidnapped for $1 Million Ransom in Toronto
Block Shifts Focus to Bitcoin Mining, Scales Back Tidal and TBD Initiatives
