CoinDesk reported:
According to the filing, FTX issued more than $725 million worth of equity to Bankman-Fried, former CTO and Co-Founder Gary Wang, Director of Engineering Nishad Singh, and former Alameda Research CEO Caroline Ellison. Of this $725 million, $447.8 million allegedly went to Singh, and the lawsuit documents how it was recorded as a loan between Singh, trading arm Alameda and FTX.