FTX Founder’s Parents Bought Home in Bahamas Using Company Money

FTX Founder’s Parents Bought Home in Bahamas Using Company Money
Then CEO of FTX Sam Bankman-Fried testifies during a hearing before the House Financial Services Committee on Capitol Hill, in Washington, on Dec. 8, 2021. Alex Wong/Getty Images
Naveen Athrappully
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The parents of FTX founder Sam Bankman-Fried and other senior executives at the bankrupt crypto exchange had purchased properties worth millions of dollars in the Bahamas using funds from the firm.

In total, Bankman-Fried’s parents and FTX execs purchased at least 19 properties in the Bahamas during the past two years that are collectively valued at roughly $121 million, according to a Reuters report citing property records. One of the documents, related to a home with beach access, showed Bankman Fried’s parents—Stanford University law professors Barbara Fried and Joseph Bankman—as signatories. The property, valued at $16.4 million, is documented as a “vacation home.”