FTX Is Liquidating Sam Bankman-Fried's $222 Million Worth Of Real Estate In An Effort To Compensate Creditors

Following the dramatic fall of cryptocurrency exchange FTX and its founder, Sam Bankman-Fried, the company is set to liquidate Bankman-Fried's extensive real estate holdings in the Bahamas, valued at a staggering $222 million. The move comes after Bankman-Fried was sentenced to 25 years for his involvement in an $8 billion fraud.

The 38 properties are now poised for sale as FTX seeks to compensate creditors and defrauded customers to the tune of $16 billion.

Among these assets is a notorious waterfront penthouse, once the hub of Bankman-Fried's empire, which will soon be available on the market. 

According to a New York Post report, the liquidation, approved by a federal bankruptcy court in Delaware, not only aims to recoup losses but also marks the end of Bankman-Fried's fraudulent scheme.

The properties, ranging from luxury condos to beachfront estates, are expected to attract a flurry of interest from high-end buyers despite the shadow cast by their previous owner's criminal activities.

The sale includes residential and commercial properties, highlighting Bankman-Fried's extensive investments in the Bahamas.

Also Read: Here's Why Michael Saylor Says FTX Collapse And Other Crypto Scandals Will Benefit Bitcoin

Orchid Building Penthouse

The crown jewel of Bankman-Fried's real estate portfolio is the Orchid building penthouse in the luxurious Albany Bahamas. Purchased for $30 million in March 2022, this 12,000-square-foot residence is now on the market as part of the company's asset liquidation.

Albany Resort Community Properties

Beyond the penthouse, FTX is selling 15 additional properties within the Albany resort, totaling $151 million in value. These properties range from luxury condos to beachfront estates. 

Goldwynn Resort & Residences

Seven condominium units in the Goldwynn Resort & Residences are also up for sale, with a combined value of $7 million. Overlooking Goodman’s Bay, these units offer panoramic views and represent another facet of Bankman-Fried's real estate investments in the Bahamas.

One Cable Beach Development

Four luxury condos at One Cable Beach, valued at $5 million, are hitting the market. These residences were part of Bankman-Fried's inner circle's accommodations.

Commercial Properties

FTX's liquidation includes commercial properties worth $25 million, featuring prime office spaces in prestigious locations like the Veridian Corporate Center and Pineapple House. 

Blue Water Property

"Blue Water," the controversial 30,000-square-foot home associated with Bankman-Fried's parents, symbolizes the legal entanglements surrounding FTX's bankruptcy, according to the New York Post. Purchased for $16.4 million, its fate remains uncertain as legal proceedings unravel the complexities of FTX's downfall.

Now Read: Disgraced FTX Co-founder Sam Bankman-Fried Makes Unusual Request Ahead Of Trial

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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