Sam Bankman-Fried And Relatives Own A Huge Property Worth $121M In The Bahamas
Sam Bankman-Fried, along with his parents and senior FTX executives, are reported to have a massive $121 million fortune in the Bahamas.
According to information reported by Reuters, official real estate records show that the parents of FTX, SBF and other executives at the exchange have purchased at least 19 properties in the Bahamas in the past two years, worth nearly $121 million.
Most of the FTX purchases are in luxury riverside real estate, including seven condominiums in Albany’s upscale resort community valued at nearly $72 million.
Property actions show the apartments were purchased by a division of FTX to house key employees. As mentioned in an earlier Coincu News article, the penthouse is currently for sale for $40 million.
Also worth mentioning is a home in Old Fort Bay signed by SBF’s parents, Joseph Bankman and Barbara Fried. When asked why they decided to buy a property in the Bahamas and how the exact amount was paid, SBF’s parents replied that they were trying to return the property to FTX.
Coincu will continue to update the situation related to Sam Bankman-fried trial live update in progress, you can find out more information through this article.
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