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

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.”…}