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Sam Bankman-Fried, the founder of formerly VC-backed crypto exchange FTX, received around $2.2 billion in transfers from his company's entities, according to bankruptcy court filings.

FTX's new management has identified more than $3.2 billion in funds, mainly from its trading arm, Alameda Research, that were sent to the personal accounts of Bankman-Fried and five members of his inner circle in the form of payments and loans.

This sum excludes political and charitable donations, "substantial" transfers to subsidiaries, and $240 million spent on luxury property in the Bahamas. It is estimated that Bankman-Fried donated nearly $40 million to political candidates.

FTX, which was once valued at $32 billion by its investors, filed for bankruptcy in November after mass withdrawals and reports that Alameda was taking customer funds to cover major losses. The collapse sent shockwaves through the cryptocurrency industry and exposed what current FTX CEO John Ray described as "complete failure of corporate controls and [...] a complete absence of trustworthy financial information" within the company.

Bankman-Fried is now facing several criminal charges for fraud, money laundering and campaign finance offenses while he was running the exchange, to which he has pleaded not guilty. He is currently being detained at his parents' home in California as he awaits trial, which is expected to begin in October.

The court filings also stated that two FTX insiders, Nishad Singh and Gary Wang, received $833 million of company funds, while former Alameda head Caroline Ellison was sent $6 million. All three have pleaded guilty to fraud charges and are cooperating with prosecutors.

Another two former FTX executives, Ryan Salame and John Samuel Trabucco, are said to have received over $100 million collectively.

Ray is currently leading efforts to recover cryptocurrency and other assets to return to millions of FTX customers whose accounts have been frozen since the collapse. In a press release, the new management said they expect to identify further assets and that FTX debtors are "investigating causes of action against the recipients of these transfers and their subsequent transferees."

A lawyer for Sam Bankman-Fried has been contacted for comment.

Featured image by Michael M. Santiago/Getty Images

This article originally appeared on PitchBook News