Report: FTX, Sam Bankman-Fried and his parents bought Bahamas real estate worth $121 million

Source: New York Post

“Disgraced FTX ex-CEO Sam Bankman-Fried, his parents, and other executives at the bankrupt platform have snapped up a fortune in real estate properties across the Bahamas in the last two years, according to a report Tuesday. Bankman-Fried and his associates own at least 19 properties in the island chain with an estimated value of nearly $121 million, Reuters reported, citing property records. The sprawling real estate empire was mostly comprised of high-end beachfront properties. The lavish purchases belie Bankman-Fried’s image as a scruffy, T-shirt-and-sneakers-wearing donor to progressive causes. They also raise further questions about FTX’s handling of more than $1 billion in missing client funds. Bankman-Fried’s parents, Stanford University law professors Joseph Bankman and Barbara Fried, are reportedly listed as signatories on a beach house within the Old Fort Bay gated community. Documents from last June indicated the property was intended as a ‘vacation home’ for the family.” (11/22/22)