FORMER ALAMEDA CO-CEO SAM TRABUCCO TO FORFEIT $70M AND A YACHT IN FTX SETTLEMENT

Former Alameda Research co-CEO Sam Trabucco agreed to forfeit $70 million in claims and assets, including two San Francisco apartments valued at $8.7 million and a 53-foot yacht, as part of a settlement with the FTX bankruptcy estate.

This agreement allows FTX to reclaim significant funds without litigation, supporting customer recovery efforts.

Trabucco filed the $70 million claims in June 2023, and his assets will now be transferred to FTX, which aims to reimburse creditors.

This move follows an October approval of FTX’s reorganization plan, ensuring creditor recovery despite prior criticisms of dollar-based distributions.

Source: Mario Nawfal