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SBF and FTX execs are said to be spending millions on real estate in the Bahamas

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The latest revelations from the FTX case reveal that Bahamas real estate worth millions was purchased in the company’s name. FTX, at that time Managed by Sam Bankman-Fried (SBF)and his parents and other senior company executives, have purchased at least 19 properties in the Bahamas over the past two years.

The combined value of these purchases is more than $121 million. depending For a Reuters report on official property records.

Among the acquired properties are seven luxury apartments. While the occupants of the apartments remain unknown at the time of writing, the title deed claims they were to be used as “key staff quarters” in the defunct exchange.

In addition, the property worth $16.4 million is signed to by SBF parents, Joseph Bankman and Barbara Fried. The property allegedly contains a ‘vacation home’ with documents dating back to June 15 this year.

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According to the original reports, a spokesperson for the couple did not respond to the question of how they acquired this recreational property and if there was any FTX money involved. The couple was just trying to return the property to FTX before bankruptcy.

“Since before the bankruptcy proceedings, Mr. Bankman and Ms. Freed have been seeking to return the bond to the company and await further instructions.”

FTX moved its headquarters from Hong Kong to the Bahamas in September 2021, which was purchased for 60 million US dollars. The groundbreaking ceremony was held in April this year. The official channel of the Prime Minister of the Bahamas, A video from the concert.

However, according to reports from the recent property visiting By the media, the space has been untouched for months.

Related: The Bahamas Securities Regulator has ordered the transfer of FTX’s digital assets

With the unraveling of the liquidity crisis and bankruptcy scandal, Bahamas authorities had Sam Bankman-Fried and two ex-partners In the former exchange “under supervision” in the country, where they are still Toda.

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Court documents filed after the initial bankruptcy notice revealed this A company may have more than 1 million creditors In total, with more than $3 billion owed combined to the 50 largest creditors.

On November 21, the US Senate Committee Announce a scheduled FTX hearing On December 1, the CFTC Chairman will testify.