Kenne Michael 
A charity wing employee hired by FTX co-founder Sam Bankman-Fried is attempting to get paid $275,000, the balance of his claimed 2022 salary bonus.
In a Nov. 13 court filing, Ross Rheingans-Yoo’s lawyers claimed that FTX only paid $375,000 of his $650,000 bonus.
However, they believe the cash were owed when the crypto exchange declared bankruptcy in November 2022.
Rheingans-Yoo’s latest filing is in response to FTX’s Oct. 30 objection.
Rheingans-Yoo supplied a portion of a Google Doc written by Bankman-Fried outlining his job terms at the FTX Foundation, which included a $100,000 basic salary.
He claimed that Bankman-Fried informed him in a memo.
Moreover, Rheingans-Yoo stated that he was not a member of Bankman-Fried’s “inner circle” and was unaware that FTX had misused customer funds, with his lawyers adding:
“Instead, Rheingans-Yoo was a faithful employee who found himself in a mess he did not create.”
Rheingans-Yoo says he is entitled to an additional $650,000 to donate to charity, a prepetition salary payment of approximately $5,700, and a post-petition compensation of at least $62,800.
Meanwhile, advisers assert FTX had previously paid Rheingans-Yoo’s bonus in full because he chose to have the award partially reimbursed through options in the firm’s corporate affiliates before the firm declared bankruptcy.
Rheingans-Yoo, on the other hand, denies this assertion.
In addition, a Delaware bankruptcy judge overseeing FTX’s Chapter 11 bankruptcy will decide the fate of Rheingans-Yoo’s bonus.
In July, FTX sued Rheingans-Yoo’s Latona Biosciences Group, Bankman-Fried, and several other defendants to recover $71.6 million in claimed investments and donations to several life science companies.
FTX seeks to recover through avoidance of transfers of $71.5m from
Life Sciences, Lumen Bioscience, GreenLight Biosciences Holdings, PBC, Riboscience, Genetic Networks, 4J Therapeutics, Latona Biosciences, FTX Foundation, SBF, Ross Rheingans-Yoo and Nicholas Beckstead pic.twitter.com/T7lF3sZmzN
— Sunil (FTX Creditor Champion) (@sunil_trades) July 20, 2023
Rheingans-Yoo and Bankman-Fried, according to the crypto exchange, benefited financially from the investments and donations, but FTX and Alameda Research did not.
“Each of these transfers was made with the intent to hinder, delay, or defraud present or future creditors, a fact known by the FTX Foundation, Latona, and Bankman-Fried.”
Rheingans-Yoo argues that his work at Latona, which included researching possible recipients, interviewing company founders and executives, and completing due diligence, would have resulted in “positive results for society.”
