FTX and Sam Bankman-Fried’s Parents Reportedly Bought Millions of Dollars Worth of Bahamas Property

Sam Bankman - Fried , the former CEO and founder of FTX , has been having a rough couple of hebdomad . With his report on the line amidst thecollapse of the monolithic cryptocurrency exchange , a new report argue that FTX and Bankman - Fried ’s own parents buy a collective 19 properties in the Bahamas over the past two year deserving upwards of $ 121 million .

New reporting fromReutersindicates that several of the purchases from the FTX executives were luxury beachfront home that were expected to dish as key force residences according to deed obtained by the outlet . Seven of these properties were condominium in a high - terminal resort community called the Albany , and were purchase for a total of $ 72 million .

Bankman - Fried ’s parents were listed as signatories on a property in the gated community of Old Fort Bay in Nassau , which was reportedly used as a vacation rest home . According to Reuters , the couple is now seek to recall the property back to what ’s left of FTX .

FTX’s headquarters were located in Nassau, Bahamas, where the former CEO’s parents also purchased a vacation home.

FTX’s headquarters were located in Nassau, Bahamas, where the former CEO’s parents also purchased a vacation home.Image: Nathan Bai (Shutterstock)

Reuters ’ honkytonk into Bahamian holding records show a total of 19 properties that were purchased by FTX ’s belongings property radical . 15 properties deserving around $ 100 million were purchased in 2021 and 2022 . Later on , FTX Property Holdings Ltd purchased a $ 30 million penthouse at the Albany as a “ residence for fundamental personnel . ” Three more condominiums were also purchase in New Providence ’s One Cable Beach for anywhere from $ 950,000 to $ 2 million .

FTX file forbankruptcy earlier this monthwhile Bankman - Fried announce he would also be step down from his position as CEO . The proceeding radioactive dust has been an right-down circus involvinga potential hackdraining $ 600 million from the company , the takedown ofother crypto exchangesthat relied on FTX , and the revelation thatthe company does n’t even really knowwho was call back and depositing money . At leastwe have the movieto look forward too .

The Bahamas are quite the breeding ground for shady business practices . In addition to the country serve as the headquarters for FTX , Fyre Festival fraudsterBilly McFarland has recently apologizedto the Bahamian government activity before long before launching his next endeavor in the country .

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