According to court filings published yesterday, Ryan Salame, the former co-CEO of FTX Digital, informed the Securities Commission of the Bahamas on November 9 that FTX Digital had transferred funds to Alameda Research. Salame was in Washington at the time. That was the same day that Binance withdrew its offer to buy FTX.
The former co-CEO also stated that the only three people who could authorize such transfers were Sam Bankman-Fried (SBF), Nishad Singh, or Gary Wang.
However, it is claimed that transfers and co-mingling happened from day one in court cases filed yesterday by the U.S. Department of Justice, the SEC and CFTC.
Salame advised that the transfers were contrary to normal corporate governance for FTX Digital. That raises the question of Salame’s awareness of potential earlier transfers. Especially as Salame should know what is acceptable, given he is a U.S.-qualified accountant (CPA). He also made $23 million in U.S. campaign donations.
Various accusations are flying around between the U.S. Chapter 11 group, the local Bahamas liquidators and others. The Securities Commission of the Bahamas (the Commission) put the company into liquidation first.
A brief summary of the issues are:
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