Former FTX CEO Sam Bankman-Fried spent millions of commingled customer funds on multiple million dollar luxury properties in the Bahamas for employees and their friends and families, according to the latest investigative report from debtors.
including the now infamous six-bedroom, 11,500 square foot penthouse at the Albany resort community in Nassau where the FTX founder and his lieutenants Caroline Ellison, Nishad Singh and Gary Wang, among others, all lived.
The report contained a detailed list of other properties executives are alleged to have purchased with funds from accounts that commingled customer and company assets.The Albany Honeycomb units The FTX Group spent upwards of $18 million on properties in the Bahamas called the “Albany Honeycomb” units, according to the report.listing“The tastefully furnished living area benefits from a full wet bar with a wine cellar and floor-to-ceiling windows that opens to the breathtaking terrace overlooking the state-of-the-art mega yacht marina and turquoise blue waters," that listing states.
Albany itself is a “600-acre exclusive luxury community” with a golf course, equestrian activities, full-service spa, among other amenities, according to the listing.Over $16 million was spent on “Old Fort Bay Lot A,” according to the report.
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