December 5, 2022

Reuters: Sam Bankman-Fried's Parents and FTX Executives Buy $121M Bahamas Real Estate

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Reuters: Sam Bankman-Fried's Parents and FTX Executives Buy $121M Bahamas Real Estate

Reuters news agency got access torecords that FTX management, including the parents of founder Sam Bankman-Freed, have bought 19 properties in the Bahamas over the past two years.

Among the objects for a total of $121 million there are sevenapartments in luxury condominiums. It is not yet known who exactly lives in these apartments, but in the documents the objects are referred to as "residences for key personnel" of the FTX exchange. In addition, a vacation home was purchased for $16.4 million, with Joseph Bankman and Barbara Fried, the parents of the founder of FTX, signing the purchase documents. The purchase took place in June 2022.

“Even before the FTX bankruptcy proceedings began, Mr.Bankman and Mrs. Freed tried to return the title deed to the company's home. They are awaiting instructions on how to do this,” said the lawyer for the parents of Sam Bankman-Fried (Sam Bankman-Fried).

In September 2021, FTX moved the exchange's headquarters from Singapore to the Bahamas. For this, premises worth $60 million were bought. True, as reported
Media, the headquarters has been abandoned for months.

Earlier, the head of the FBI in Minneapolis, Neel Kashkari, said that the cryptocurrency industry is completely fraudulent, and the FTX exchange is just another representative of it.