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The Expenses of FTX Group’s C-Suite Revealed
As part of FTX’s bankruptcy court proceedings, the exchange’s new management has provided a detailed balance sheet that includes all expenses incurred by the FTX Group’s C-Suite. While some of these expenses were already known to the public, such as the purchase of Robinhood shares by SBF and Gary Wang, there are several expenses listed in the court documents that have never been revealed before.
John Samuel Trabucco’s Mysterious Boat Purchase
According to the court documents filed by FTX’s legal team, on March 11, 2022, a significant amount of $2,513,000 was transferred to the American Yacht Group in favor of John Samuel Trabucco. Interestingly, only six months later, Trabucco announced his departure from the company and hinted at his recent purchase of a boat. While he planned to stay on as an advisor, Trabucco expressed his desire to take some time off and enjoy his new vessel.
“What other things? I’m really not sure, exactly. Lately, I’ve been really happy, spending a lot of time traveling, visiting friends and family, working on ‘myself’ and whatnot. Also, I bought a boat, that’s been cool. I needed to relax, and I’m really, really happy.”
Trabucco’s co-CEO, Caroline Ellison, acknowledged his service at Alameda and wished him well on his boat. However, since the collapse of the FTX Group, Trabucco’s whereabouts have become unknown. His last interaction on the public internet was on November 8, 2022, when he sent a message expressing positivity and hope for the future.
The Mystery Continues
Following Trabucco’s tweet, not much has been heard about him. It’s worth noting that he, like others associated with FTX, such as Constance Wang and Brett Harrison, has not been formally accused of any wrongdoing. According to local news outlets, Trabucco may have distanced himself from SBF’s inner circle, casting doubt on whether he left the company before any potential issues arose or if his departure was genuine.
Since October, Trabucco has allegedly been sailing in international waters and has managed to stay off the radar. His decision to remain elusive raises more questions about his intentions and future plans.