The crypto wallets associated with now-bankrupt trading firm Alameda Research, the sister company of FTX, were seen transferring out funds just days after the former CEO Sam Bankman Fried was released on a $250 million bond.

Sam Bankman-Fried took out loans totaling hundreds of millions of dollars from Alameda Research in order to fuel his massive purchase of Robinhood shares.

The guilty pleas made by former Alameda Research CEO Caroline Ellison and FTX co-founder Gary Wang are “game changers for the case against Sam Bankman-Fried," the former FTX CEO who is now facing multiple criminal charges, Ian McGinley, a partner at Akin Group, told CoinDesk TV’s “First Mover” on Tuesday.

Caroline Ellison, the former Chief Executive Officer of Alameda Research, pleaded guilty recently, admitting that she was aware of the activities that were taking place from 2019 to 2022.

Caroline Ellison, former chief executive of trading firm Alameda Research, told a federal judge last week that she agreed with executives of FTX, including former CEO Sam Bankman-Fried, to mislead lenders and customers on how much Alameda was borrowing from the now-bankrupt exchange.

Following FTX co-founder Sam Bankman-Fried’s arrest and the statements from his co-workers Gary Wang and Caroline Ellison, the spotlight has turned on the remaining executives who were part of the team’s inner circle. Another person people are curious about these days is Alameda Research’s ex-co-CEO Sam Trabucco. The 30-year-old executive left Alameda in Aug. 2022, but since Ellison detailed misconduct happened in 2019, it’s assumed that Trabucco knows a thing or two about what happened.

The latest report by Reuters reveals that Alameda Research could borrow unlimited money from FTX. Moreover, the former FTX CEO – SBF – and former Alameda CEO – Caroline Ellison – agreed to hide this fact from lenders, investors, and customers.

Caroline Ellison, the former CEO of Alameda Research, told a federal court in New York that she knowingly misled lenders about how much the firm had been borrowing from the collapsed FTX crypto exchange and knew that her actions were wrong.

Alameda Research and Terra’s Do Kwon-backed crypto hedge fund Pangea Fund Management is rebranding to Syncracy Capital after seven months of silence.

The most common phrase found in the SEC’s 38-page complaint alleges that various FTX and Alameda employees either “knew, or were reckless in not knowing” what was actually happening between the two companies.