Posted 10/10/2023, 6:00:00 PM
FTX Co-Founder Gary Wang Took Out Hundreds of Millions in Loans from Alameda to Cover High Interest Payments, Signed Docs on SBF's Orders
- Gary Wang took out $200M-$300M in loans from Alameda Research for unclear investments
- Interest payments became so high Wang took another $1M loan to cover costs
- Wang signed loan docs because Sam Bankman-Fried told him to
- Loans may show FTX lawyers gave bad advice, part of defense strategy
- Wang met with prosecutors week after FTX bankruptcy filing
- Wang signed cooperation deal with DOJ on Dec. 19