FTX Executives Reportedly Bought Themselves Real Estate In The Bahamas With Corporate Funds

FTX Executives Reportedly Bought Themselves Real Estate In The Bahamas With Corporate Funds


John Ray III, the lawyer who is overseeing the bankruptcy proceedings of defunct cryptocurrency platform FTX, said that executives at the company formerly led by disgraced billionaire Sam Bankman-Fried purchased real estate for themselves using corporate funds with little formal oversight.

According to a court filing submitted by the seasoned attorney, who previously represented plaintiffs after the collapse of fraudulent energy company Enron, leadership at the cryptocurrency venture lacked disbursement controls “appropriate for a business enterprise,” allowing executives to “purchase homes and other personal items for employees and advisors” in the Bahamas using corporate funds.

“I understand that there does not appear to be documentation for certain of these transactions as loans,” the lawyer wrote, “and that certain real estate was recorded in the personal name of

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