Official Bahamas property records show that FTX purchased at least 19 properties in the Bahamas, worth 121 million USD.
The properties, which include the site of an old colonial fort once used to protect against pirates, include mostly luxury beachfront homes, and seven condominiums in an expensive resort community called Albany.
The Albany condos cost almost 72 million USD.
CEO Sam Bankman-Fried’s parents were listed as signatories on a property in the gated community of Old Fort Bay in Nassau, which was reportedly used as a vacation home. According to Reuters, the couple is now trying to return the property back to what’s left of FTX.
The deeds Reuters found show that properties, previously bought by a unit of FTX, were to be used as “residence for key personnel” of the company. Reuters could not determine who lived in the apartments.
FTX filed for bankruptcy earlier this month while Bankman-Fried announced he would also be stepping down from his position as CEO.
FTX has a current total cash balance of $1.24 billion US, a court filing by advisers on the stricken crypto exchange’s restructuring showed ahead of U.S. bankruptcy hearings set for later on Tuesday.
