The latest revelation from the FTX case reveals that Bahamian properties worth millions were bought in the company name. FTX, at the time operated by Sam Bankman-Fried (SBF), his parents and other high-level executives of the company, reportedly purchased at least 19 properties in the Bahamas over the last two years.
Collectively, these purchases have a worth of over $121 million, according to a Reuters report of the official property records.
Among the acquired properties were seven luxury condos. While the residents of the condos remain unknown at the time of writing, the property deed claims they were to be used as “residences for key personnel” of the defunct exchange.
Additionally, a property worth $16.4 million has SBF’s parents, Joseph Bankman and Barbara Fried, as signatories.