- Sam Bankman-Fried will be sentenced shortly.
- Speculation on the whereabouts of ex-Alameda boss Sam Trabucco is building.
- Trabucco has seemingly escaped from justice.
The catastrophic implosion of FTX will receive a degree of closure in March, with the final sentencing of former CEO Sam Bankman-Fried over fraud and money laundering charges. However, as the date approaches, questions are being raised about the whereabouts of former Alameda co-CEO Sam Trabucco, who seems to have vanished into thin air and escaped justice.
FTX and Alameda Were a Blast: Trabucco
In August 2022, around three months before troubles at FTX became public knowledge, Trabucco resigned from his position at Alameda, tweeting publicly about the move. He referenced having already “significantly reduced” his role in recent months, seeming to be burnt out and searching for greater life fulfillment.
Trabaccu’s tweet thread highly complements FTX, Alameda, and the individuals he worked closely with. However, he did not provide a clear reason for his departure.
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Commenting on his plans post-Alameda, Trabaccu failed to respond definitively but wrote that he enjoyed traveling and spending time with family and friends while casually mentioning his recent boat purchase.
The overall message conveyed enjoying the spoils of success at Alameda yet being ready to move on to a fresh challenge. At no point did Trabuccu’s carefully crafted words convey that an impending disaster was lurking.
What Happened to Trabucco?
However, the FTX implosion ranks among the crypto industry’s biggest disasters, with forensic accountants reporting missing funds to $8.9 billion. Moreover, observers have commented that it is highly suspicious that Trabucco has not been named as a defendant in any prosecution case.
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A bankruptcy court filing revealed that Trabucco had been paid $15 million in cash on three separate occasions while receiving a $2.5 million payment to the “American Yacht Group for the benefit of John Samuel Trabucco.” In conjunction with the lack of prosecution interest, some have drawn up wild conspiracies to explain the situation.
Chiming in with the debate, X user “amNomad.sol(ol)” inferred that the lack of criminal proceedings against Trabucco might boil down to him cutting an off-the-record plea deal with prosecutors. Continuing in the same vein, “Genia” speculated that Trabucco was “a fed” working on the inside.
Meanwhile, “yourfriendSOMMI” put forward a more likely scenario of Trabucco hiding out on his yacht until things blow over.
On the Flipside
- Trabucco was one of Alameda’s first employees, joining the company in 2017.
- Trabucco named his 52-foot yacht “Soak my Deck,” which some speculate is a salacious nod to committing financial crimes and getting away with it.
Why This Matters
Trabucco’s mysterious disappearance and the lack of transparency around his current status leave questions for FTX creditors seeking to recoup losses. His unexplained absence fuels speculation of side deals undermining investigations and preventing fuller accountability.
Read about the FTX victim’s struggle for more compensation here:
FTX Creditors Turn Up Heat in Fight For Fairer Payout
Find out more on Trump NFTs bridging to the Bitcoin blockchain here:
Trump Ordinals NFTs Break the Norm: Here’s How It Works
