Alameda contributed $400 million to a Bahamian condo community-based company

The multi-strategy hedge fund known as Modulo Capital was established in the early part of 2022 and is headquartered in the same condo complex in the Bahamas that SBF called home.

According to the first report by CoinDesk, a relatively unknown company called Modulo Capital, which seems to have a lot in common with Sam Bankman-Fried and Caroline Ellison, was given a loan in the amount of $400 million by Bankman-Fried’s business, which is known as Alameda Research. Ellison served as Chief Executive Officer of Alameda.

Three individuals who had previously worked for Jane Street, a New York-based business that Bankman-Fried and Ellison were employed by prior to their entry into the cryptocurrency market, were responsible for the establishment of Modulo Capital. The two also made their home in the same high-end condominium neighbourhood in The Bahamas which is also the location of Modulo Capital’s headquarters.

With a total value of $400 million, Modulo Capital is one of the most significant investments that Alameda Research has ever undertaken. CoinDesk was informed by individuals with knowledge of the situation that Modulo had contacted other institutional finance investors prior to settling on Alameda.

On December 12th, Bankman-Fried was taken into custody in the Bahamas on a number of counts, including conspiracy to commit wire fraud, securities fraud, and money laundering. According to a recent story by The Block, he has subsequently consented to be extradited to the United States to face allegations of fraud.

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