Former FTX CEO Sam Bankman-Fried has bought $121 million in real estate in the Bahamas with his parents and other cryptocurrency trading platform managers over the past two years.
The New York Post reports it, underlining how the indiscretion fuels doubts about the funds that have disappeared from Ftx (ANSA).
Seaside villas in the Bahamas, long nights between video games and methamphetamines.
The life of Sam Bankman-Fried, the founder and former CEO of FTX, contrasts with his 30-year-old public image always in a t-shirt and sneakers.
And it fuels doubts about the management of the now bankrupt cryptocurrency trading platform.
In the first court hearing in the Chapter 11 trial, FTX's attorneys described him as a manager who treated his company as a "personal fiefdom."
But now the "emperor has no more clothes," they said, revealing that a "substantial amount" of the company's assets have been stolen or gone missing.
"Ftx was controlled by inexperienced and unsophisticated individuals. What we have here is an international organization led by Sam Bankman-Fried as a personal fiefdom," says platform attorney James Bromley, of law firm Sullivan & Cromwell, noting that the bankruptcy process will allow one to see what is really in society and "recognize that the emperor has no clothes."
An initial review of FTX's accounts revealed that "significant funds" had been transferred to Alameda Research, another Bankman-Fried company.
Among these millions of dollars went, according to rumors, to the purchase of sumptuous properties in the Bahamas.
In one of these, the former CEO lived with 10 other people between long nights, pills and crossed sentimental relationships.
The revelations about Bankman-Fried's life appear set to fuel the anger of FTX's customers and creditors, whose chances of recovering their funds are dwindling with each passing day.
(HANDLE).