John Ray III, the new CEO of FTX, made a formal declaration in the continuing Chapter 11 bankruptcy papers that showed additional financial theft by Bankman Fried.
In accordance with the documentation, Alameda Research gave Bankman-Fried a direct loan of $1 billion and gave $543 million to FTX director of engineering Nishad Singh.
In his initial submission to the Bankruptcy court for the district of Delaware, Ray III, the man in charge of putting the parts back together after the iconic fall of Enron, was harsh. He even went so far as to say that it was the worst thing he had ever experienced in his business career.
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