{"id":166550,"date":"2022-12-31T06:15:20","date_gmt":"2022-12-31T10:15:20","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=166550"},"modified":"2022-12-31T06:15:20","modified_gmt":"2022-12-31T10:15:20","slug":"disgraced-crypto-kingpin-sam-bankman-fried-borrowed-half-a-billion-dollars-from-his-now-bankrupt-empire-to-buy-robinhood-shares","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/disgraced-crypto-kingpin-sam-bankman-fried-borrowed-half-a-billion-dollars-from-his-now-bankrupt-empire-to-buy-robinhood-shares\/","title":{"rendered":"Disgraced crypto kingpin Sam Bankman-Fried borrowed half a billion dollars from his now bankrupt empire to buy Robinhood shares"},"content":{"rendered":"<div id=\"antig-933150626\" class=\"antig-ecab antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-1744433322\" class=\"antig-before-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/medicalbenefitsscheme\" aria-label=\"ce741a73-c70c-446b-af7f-da2abe2b62bb\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 1200w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:341\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/ce741a73-c70c-446b-af7f-da2abe2b62bb.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1200\" height=\"400\"   \/><\/a><\/div><p>FTX founder Sam Bankman-Fried said he and former executive Gary Wang borrowed more than $546 million from Alameda Research to buy a nearly 8% stake in Robinhood Markets Inc, according to court papers.<\/p><div id=\"antig-3052095141\" class=\"antig-content_5 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"ABLP_Red-&#038;-Reddy_Web_1000x250\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>\n<p>The pair borrowed the funds earlier this year.<\/p>\n<p>The transactions were documented in a series of promissory notes, detailed in an affidavit that surfaced in a dispute in US bankruptcy court in New Jersey on Tuesday.<\/p><div id=\"antig-3947585278\" class=\"antig-content_4 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-3565094906\" class=\"antig-content_12 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"ABLP_Red-&#038;-Reddy_Web_1000x250\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/ABLP_Red-Reddy_Web_1000x250.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>\n<p>The Robinhood stake \u2014 about 56 million shares in total \u2014 is at the center of a multi-jurisdictional ownership fight playing out in Antigua, New Jersey and Delaware.<\/p><div id=\"antig-274791441\" class=\"antig-content antig-entity-placement\"><a href=\"https:\/\/www.antiguabarbudaculinarymonth.com\/\" aria-label=\"culinary\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:843\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:843\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 2560w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:132\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:450\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:337\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:675\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 1536w, https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:842\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/04\/culinary-scaled.jpg 2048w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"2560\" height=\"1124\"   \/><\/a><\/div>\n<p>FTX, bankrupt crypto lender BlockFi Inc. and an individual FTX creditor are all trying to establish claims to the shares in separate legal proceedings.<\/p>\n<p>BlockFi is suing Emergent Fidelity Technologies, the corporate entity that owns the Robinhood shares, for control of those shares, claiming they back a loan made to Alameda.<\/p><div id=\"antig-4102065551\" class=\"antig-content_2 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"IMG_0783\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png 500w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:150\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/03\/IMG_0783.png 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" width=\"500\" height=\"500\"   \/><\/a><\/div>\n<p>FTX lawyers have said former Alameda chief executive Caroline Ellison pledged the shares to BlockFi just before FTX\u2019s collapse.<\/p>\n<p>Alameda\u2019s borrowing from FTX is at the core of the fraud case against Bankman-Fried unfolding in Manhattan federal court.<\/p><div id=\"antig-3118196452\" class=\"antig-content_3 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"1000436969\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/1000436969.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/1000436969.jpg 1080w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/1000436969.jpg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/1000436969.jpg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/1000436969.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1080\" height=\"1350\"   \/><\/a><\/div>\n<p>It\u2019s unclear if the funds at issue in the bankruptcy dispute originated with FTX.<\/p><div id=\"antig-3812538565\" class=\"antig-content_6 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div>\n<p>Bankman-Fried attested to the loans in an affidavit submitted to a judge in Antigua earlier this month, where Emergent Fidelity has been placed in insolvency proceedings.<\/p>\n<p>Lawyers for the company submitted the affidavit to BlockFi\u2019s bankruptcy judge on Tuesday.<\/p>\n<p>The Wall Street Journal reported on the news earlier.<\/p>\n<div class=\"sc-fWCJzd fCLuxa\">\n<div id=\"InStream0\" data-google-query-id=\"COPazLHPo_wCFQxchwodLsMLhg\">\n<p>In his affidavit, Bankman-Fried said the $546 million in loans from Alameda were \u201ccapitalized into\u201d Emergent Fidelity.<\/p>\n<p>Bankman-Fried owns 90% of Emergent and Wang owns the rest.<\/p>\n<p>The company then purchased 56 million shares in Robinhood, according to the affidavit. Bankman-Fried originally filed the affidavit in the Eastern Caribbean Supreme Court in Antigua on Dec. 12, the day of his arrest.<\/p>\n<p>He was seeking to wrest control of Emergent Fidelity from court-appointed liquidators on the island.<\/p>\n<p>It is one of several battles Bankman-Fried is facing following the collapse of FTX last month.<\/p>\n<p>The 30-year-old is\u00a0<a class=\"sc-bdvvtL lpozya\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-12-22\/prosecutors-propose-250-million-bail-bond-for-bankman-fried\" target=\"_blank\" rel=\"noreferrer noopener\">currently on bail<\/a>\u00a0and living in <a class=\"sc-bdvvtL lpozya\" href=\"https:\/\/fortune.com\/company\/california-resources\/\" target=\"_blank\" rel=\"noopener\">California<\/a> after Manhattan prosecutors charged him with orchestrating a yearslong fraud involving billions of dollars of customer funds.<\/p>\n<p>Ellison, who pleaded guilty to fraud offenses in a deal with federal prosecutors, signed off on the loan to Bankman-Fried and Wang, the court papers show.<\/p>\n<p>Wang has also flipped on Bankman-Fried and cut a deal with prosecutors.<\/p>\n<div class=\"sc-fWCJzd fCLuxa\">\n<div id=\"InStream1\" data-google-query-id=\"CJnGucTPo_wCFYTChwod96oDBw\">\n<div id=\"google_ads_iframe_21809533738\/fortune\/tech\/article\/instream_1__container__\">The case is BlockFi Inc v. Emergent Fidelity Technologies Ltd, 22-19361, US Bankruptcy Court, District of New Jersey.<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><strong><br \/>\nSOURCE: Fortune<\/strong><\/p>\n<div id=\"antig-3619491320\" class=\"antig-in-comments_2 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/@hadeedmotorsltd\" aria-label=\"Hadeed_WEB_Banner_MG-2\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>FTX founder Sam Bankman-Fried said he and former executive Gary Wang borrowed more than $546 million from Alameda Research to buy a nearly 8% stake in Robinhood Markets Inc, according to court papers. The pair borrowed the funds earlier this year. The transactions were documented in a series of promissory notes, detailed in an affidavit [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":166551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-166550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Disgraced crypto kingpin Sam Bankman-Fried borrowed half a billion dollars from his now bankrupt empire to buy Robinhood shares - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/disgraced-crypto-kingpin-sam-bankman-fried-borrowed-half-a-billion-dollars-from-his-now-bankrupt-empire-to-buy-robinhood-shares\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Disgraced crypto kingpin Sam Bankman-Fried borrowed half a billion dollars from his now bankrupt empire to buy Robinhood shares\" \/>\n<meta property=\"og:description\" content=\"FTX founder Sam Bankman-Fried said he and former executive Gary Wang borrowed more than $546 million from Alameda Research to buy a nearly 8% stake in Robinhood Markets Inc, according to court papers. 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