The FTX bankruptcy court proceedings have shed light on some previously undisclosed expenses incurred by the exchange’s C-Suite.
While some expenditures, like the purchase of Robinhood shares by SBF and Gary Wang, were already public knowledge, a 57-page document unveiled a few surprises.
One such revelation was a substantial sum transferred to the American Yacht Group for the benefit of John Samuel Trabucco, just six months before his departure from FTX.
According to court documents filed by FTX’s legal team, on March 11, 2022, a staggering $2,513,000 was transferred to the American Yacht Group in the name of John Samuel Trabucco.
This significant expenditure was kept under wraps until the bankruptcy proceedings brought it to light.
Shortly after receiving this substantial sum, Sam Trabucco announced his departure from the company, raising eyebrows within the cryptocurrency community.
In his departure announcement, he outlined his plans for the near future. While Trabucco intended to remain as an advisor to FTX, he also expressed his desire to take a break and enjoy some leisure time, notably aboard the newly acquired boat.
In his own words, Trabucco stated, “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.”
Upon his departure, Trabucco received warm wishes from his co-CEO, Caroline Ellison. She congratulated him for his service at Alameda and wished him lots of fun on his boat. The exchange of pleasantries suggested an amicable parting of ways.
Since the collapse of the FTX Group, John Samuel Trabucco has maintained a low profile, and little has been heard about his whereabouts or activities.
His last known interaction with the public internet occurred on November 8, when he wished FTX creditors well before going completely silent.