FTX’s Downfall, Alameda’s Bribery Allegations, and the Big Question: Where’s Sam Trabucco?
In a stunning revelation, Caroline Ellison testified that Alameda Research allegedly paid $150 million to Chinese officials in order to unfreeze accounts worth over $1 billion. This comes amidst the downfall of FTX and the disappearance of former co-CEO Sam Trabucco.
The Allegations and Testimony
During her testimony, Ellison stated that in 2020, Chinese officials froze accounts totaling $1 billion. The team turned to David Ma for help, who reportedly had connections in China. Ma was able to unfreeze the funds. The court proceedings were broadcast by Inner City Press reporter Matthew Russell Lee.
Initially, FTX tried using accounts linked to Thai prostitutes to resolve the issue but failed. Bribery then became the focus, with Trabucco as co-CEO at the time. Ellison testified that she carried out the bribe transactions based on instructions from Bankman-Fried and Trabucco in a Signal chat.
The Disappearance of Sam Trabucco
Since FTX’s collapse in November 2022, Trabucco has remained silent. His yacht recently came up in FTX’s bankruptcy discussions, leading Bankman-Fried to suggest that Trabucco quietly quit. A former Alameda trader named “Handi” expressed concerns about the alleged bribes, but when Ellison informed SBF, he allegedly responded dismissively.
Ellison also mentioned documenting the bribes on a ledger titled “State of Alameda,” with guidance from SBF to keep it ambiguous. She described Bankman-Fried as a utilitarian whose values didn’t align with “don’t lie” and “don’t steal.” Ellison received a $20 million bonus and lent $100,000 to one of her parents.
The Mystery Surrounding Sam Trabucco
With Trabucco’s name now tied to the alleged bribery, his fate remains uncertain. While four officials have cooperated with the prosecution, it’s unclear if Trabucco is under scrutiny. Rumors suggest he may be evading attention on his luxurious yacht. However, the recent revelations have raised the burning question: Where is Sam Trabucco?
Hot Take: Sam Trabucco’s Disappearance Fuels Speculation
The disappearance of Sam Trabucco following allegations of bribery has left many wondering about his whereabouts and involvement in the scandal. As FTX’s downfall unfolds and testimonies shed light on the alleged misconduct, Trabucco’s silence adds a layer of intrigue. With rumors swirling about him living luxuriously on his yacht, questions about his role and potential legal consequences remain unanswered. As the trial continues, all eyes are on Sam Trabucco and whether he will emerge from the shadows to face the allegations against him.
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