When Sam Bankman-Fried bought a nearly 7.6 per cent stake in Robinhood, the popular stock-trading app, earlier this year, he financed the deal with more than half a billion dollars borrowed from his own hedge fund — the entity that prosecutors say was illegally funnelling customer funds from its affiliated platform, FTX.In an affidavit that emerged on Tuesday, Bankman-Fried said he and FTX co-founder Gary Wang borrowed more than $US546 million ($808 million) from the hedge fund, Alameda Research, which they used to purchase the Robinhood shares via a holding company primarily controlled by Bankman-Fried.Wang has since pleaded guilty to four counts of fraud and conspiracy, in cooperation with US prosecutors investigating FTX's collapse.
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