June 27 (Cointime) -Former CEO Sam Bankman-Fried spent millions of dollars over two years on properties in the Bahamas, including a six-bedroom, 11,500-square-foot penthouse in the Albany resort community, according to a second report from FTX creditors released Monday. The report lists properties that other executives allegedly bought with a mix of client and company assets.
FTX Group spent more than $18 million on "Albany Honeycomb" units in the Bahamas and more than $16 million on Old Fort Bay Lot A. The exchange is currently bankrupt and owes customers about $8.7 billion. John J. Ray lll, FTX Chief Restructuring Officer, said, "From the inception of the FTX.com exchange, FTX Group has mixed customer deposits with corporate funds, directed and engineered the abuse by previous senior management."
All Comments