In recent events, the loans taken from Alameda Research have been scrutinized, with lawyers representing Sam Bankman-Fried, also known as SBF, seeking clarity from FTX co-founder Gary Wang.
SBF Lawyers Into The Loan’s Legalities
Sam Bankman-Fried, the founder of the now-defunct FTX exchange, seems to be in a tangle over the loans given out by Alameda Research. Lawyers on his team are eager to question Gary Wang about the details and the legal counsels involved in the loans he received from the trading firm.
Last week, during the trial, the prosecutors delved deep into Wang’s financial activities. They pointedly asked about what they described as “a series of personal loans” that ranged from roughly $200-$300 million.
These loans were notable as they were issued to Wang from Alameda to cater to venture investments by FTX and even to fund Wang’s house purchase in the Bahamas. Reinforcing the legitimacy of these loans, Bankman-Fried’s attorneys highlighted in a recent filing:
Mr. Wang’s understanding that these were actual loans – structured by lawyers and memorialized in formal promissory notes that imposed real interest payment obligations – is relevant to rebut the inference that these were simply sham loans directed by Mr. Bankman-Fried to conceal the source of the funds.
Furthermore, Bankman-Fried’s lawyers have…
