As part of a settlement, former Alameda Research co-CEO Sam Trabucco will be surrendering significant assets, including two properties and a luxury yacht, to creditors of the defunct cryptocurrency exchange FTX, according to a recent filing. Trabucco, a key figure in Sam Bankman-Fried's inner circle and a close associate of Caroline Ellison at Alameda, departed the company in August 2022, mere months before both Alameda and FTX filed for bankruptcy. Although Trabucco has not publicly admitted to any wrongdoing, his social media posts occasionally hinted at the firm's aggressive trading strategies and high-risk endeavors.
The November 3 filing outlines Trabucco's agreement to forfeit two San Francisco apartments worth $8.7 million, a $2.5 million yacht purchased in March 2022, and transfer the rights to approximately $70 million in claims against FTX to the debtors. It is also noted that Trabucco received around $40 million in potentially avoidable transfers during his tenure at the trading firm.