SBF and FTX execs reportedly spent millions on Bahamas properties

At least 19 properties worth approximately $121 million reportedly purchased under FTX name, parents and executives superiors of Sam Bankman-Fried.

The latest revelation from the FTX affair reveals that Bahamian properties worth millions have been purchased in the name of the company. FTX, then operated by Sam Bankman-Fried (SBF), his parents and other senior company executives, reportedly purchased at least 19 properties in the Bahamas over the past two years.

Together, these purchases are worth more than $121 million, according to a Reuters report on official property records.

Among the properties acquired were seven luxury condos. While the residents of the condos remain unknown at the time of writing, the property deed claims they were to be used as "residences for key personnel" of the defunct exchange.

In addition, a $16.4 million property has SBF parents Joseph Bankman and Barbara Fried as signatories. The deed would have designated the property as a "vacation home", with documents dating back to June 15 this year.

According to original reports, a spokesperson for the couple did not respond to questions about how this recreational property was acquired and whether FTX funds were involved. Only the couple had attempted to return the property to FTX before the bankruptcy:

"Since before the bankruptcy proceedings, Mr. Bankman and Ms. Fried have sought to return the deed to the company and are awaiting further instructions."

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

However,