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Sam Bankman-Fried’s hedge fund Alameda Research lists Jimmy Buffett’s Margaritaville Resort in the Bahamas and Amazon Net Companies as two of the biggest collectors it owes funds to, in accordance to bankruptcy filings.
Alameda Research, which was founded by Bankman-Fried and run by his ex-girlfriend Caroline Ellison, collapsed alongside with FTX before this thirty day period. FTX, the cryptocurrency exchange run by Bankman-Fried, imploded just after loaning income to Alameda in an unsuccessful hard work to shore up its sister company’s finances.
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The Margaritaville Beach front Vacation resort in Nassau, Bahamas, is the fourth-biggest creditor owed funds by Alameda, as personal bankruptcy filings indicate Alameda owed the vacation resort a debt of $55,319.
Jimmy Buffett’s Margaritaville is a parent firm for far more than two dozen resorts, resorts, and dining places in the U.S. and abroad. The Margaritaville franchise is named right after Buffett’s 1977 strike song “Margaritaville,” which extolled the virtues of a laid-back, tropical way of living and lamented lost really like.
FTX and Alameda equally experienced a presence in the Bahamas, despite the fact that it really is unclear how Alameda incurred the debt and Margaritaville did not straight away reply to a ask for for comment.
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Bankman-Fried and Ellison have confronted withering criticism in the wake of FTX and Alameda entering bankruptcy, as their failure designed a contagion in the crypto space that has dragged several other firms into personal bankruptcy.
NEW FTX CEO HIGHLIGHTS ‘PERVASIVE FAILURES’ IN Court docket Filing
FTX’s new CEO, John Ray III, blasted them in a individual bankruptcy filing for a “complete failure of corporate controls” and added, “From compromised units integrity to defective regulatory oversight overseas, to the focus of handle in the fingers of a very little group of inexperienced, unsophisticated and most likely compromised people, this situation is unprecedented.”
Amazon World-wide-web Solutions is the major creditor outlined in the personal bankruptcy filing and is owed $4,664,996 by Alameda. AWS is a subsidiary of Amazon that supplies cloud computing platforms and APIs to clientele.
Another noteworthy creditor owed cash by Alameda is Bloomberg Finance LP, which is owed $80,526 and ranks as the third-most significant creditor. Bloomberg Finance delivers commercial products and services, together with money software package and information.
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Neither Amazon Web Expert services nor Bloomberg Economical responded to Fox Business’ request for comment about the mother nature of the debts owed to the corporations by Alameda.
Other creditors listed in Alameda’s individual bankruptcy documents include many regulation corporations positioned across the U.S. and in Australia, England, Panama, and South Korea.
