### According to a report by Reuters, Sam Bankman-Fried's parents, along with FTX and other senior executives, purchased properties worth $121 million in the Bahamas.

Reuters reveals that Sam Bankman-Fried’s parents were involved in the purchase of at least 19 properties valued at about $121 million in the Bahamas. 

Property records also named FTX and other senior executives. 

 A home with beach access located in Old Fort Bay showed Bankman-Friend’s parents Joseph Bankman and Barbara Fried, as signatories. In a document dated June 15, the property is said to be used as a “vacation home.”

 

The Reuters report says that Bankman-Fried’s parents, both law professors at Stanford, stated through a spokesman that they were trying to return the property to FTX.

 

“Since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have been seeking to return the deed to the company and are awaiting further instructions,” said the spokesperson.

 

Among the properties were seven condominiums in Albany, a resort community. These properties cost almost $72 million. The deeds indicated that they were to be used as a “residence of key personnel” of FTX. 



The investigation by Reuters revealed that FTX Property Holdings Ltd., an FTC unit, purchased 15 properties worth almost $100 million in 2021 and 2022. The most expensive property is a $30 million penthouse in Albany, which was signed by Ryan Salame, the president of FTC Property, on March 17. It was supposed to be intended as a “residence for key personnel.”

 

Other properties connected to FTC are three condominiums at One Cable Beach, a beachfront residence in New Providence estimated to be from $950,000 to $2 million. Records show that it was purchased by Nishad Singh, the former head of engineering at FTX, Gary Wang, a co-founder of FTX, and Bankman-Fried. The properties were also marked for residential use. 

 

FTX Property also invested in commercial properties, which include houses worth $8.55 million that were used as FTX’s headquarters and a 4.95-acre land on the coastline. It was also meant to be developed into FTX offices.

 

In a U.S. court filing with the District of Delaware bankruptcy, John Ray, FTC’s new chief executive, said that FTC’s corporate funds were used to “purchase homes and other personal items for employees and advisors.” 

 

Reuters notes that it was unable to determine the source of the funds used to buy the properties in the report.


According to a report by Reuters, Sam Bankman-Fried's parents, along with FTX and other senior executives, purchased properties worth $121 million in the Bahamas.

Tue Nov 22 2022

Reuters: Sam Bankman-Fried’s parents bought properties worth $ 121M in the Bahamas

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

Starknet Foundation’s Plan to Distribute STRK Token

The Korea Times: South Korea to Remove ‘Unfit’ Crypto Exchanges

DecenTrader Founder Notes Bearish Signal

Revolut to Distribute $1.2 Million in BONK

Tue Nov 22 2022 Reuters: Sam Bankman-Fried’s parents bought properties worth $ 121M in the Bahamas

FTX Creditors File Class Action Against Bankruptcy Law Firm

Revolut to Distribute $1.2 Million in BONK

Starknet Foundation’s Plan to Distribute STRK Token

The Korea Times: South Korea to Remove ‘Unfit’ Crypto Exchanges

DecenTrader Founder Notes Bearish Signal

Revolut to Distribute $1.2 Million in BONK

Tue Nov 22 2022

Reuters: Sam Bankman-Fried’s parents bought properties worth $ 121M in the Bahamas