FTX debtors release a list of luxury properties purchased by SBF with customer funds, totaling over $243 million

2023-06-27 08:18:03

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ChainCatcher news, according to the second report released by the FTX debtors on Monday, which details a list of luxury properties purchased with funds from mixed accounts of customer and company assets. The report states that former FTX CEO Sam Bankman-Fried misused customer funds to buy multiple luxury properties worth millions of dollars for employees and their friends and families in the Bahamas, totaling over $243 million.

The properties include a six-bedroom, 11,500 square foot penthouse in the Albany resort community, where FTX founder and his associates Caroline Ellison, Nishad Singh, and Gary Wang reside. Additionally, FTX spent over $18 million on a property named "Albany Hive" in the Bahamas, which is an "exclusive luxury community spanning 600 acres," featuring a golf course, equestrian activities, a full-service spa, and other amenities. FTX also spent over $16 million on the "Old Fort Bay Lot A," where homes feature spacious outdoor pools near the water.

The FTX debtors claim that FTX currently owes customers approximately $8.7 billion. (source link)

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