A new revelation from the FTX case shows Sam Bankman-Fried, his parents, and other top executives of the failed crypto exchange 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. Additionally, a property worth $16.4 million has SBF’s parents, Joseph Bankman and Barbara Fried, as signatories..
FTX moved its headquarters from Hong Kong to the Bahamas in Sep. 2021, which was purchased for $60 million.
As the liquidity crisis and bankruptcy scandal unraveled, Bahamian authorities had Sam Bankman-Fried and two former associates at the former exchange ‘under supervision’ in the country, where they still remain today.