Home / Naija Gist / Foreign / #CryptoGist: FTX Execs, Ex-CEO SBF & Parents Bought $121 Million Bahamas Properties

#CryptoGist: FTX Execs, Ex-CEO SBF & Parents Bought $121 Million Bahamas Properties

Official property records have revealed that disgraced former FTX boss Sam Bankman-Fried, his parents and senior executives from the collapsed crypto platform collectively bought 19 properties worth a total $121 million.

Some luxury beachfront properties totaling $72 million were listed as “residence for key personnel,” while Bankman-Fried’s parents are signatories on another listed as a “vacation home” that their spokesperson insists they had been trying to return to FTX.

Although it is unclear precisely where the funds to buy the properties came from, new FTX CEO John Ray said in a court filing he understood corporate funds were used to purchase “homes and other personal items for employees and advisors.”

At least $1 billion in FTX customer deposits remains unaccounted for.

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