SBF Properties To Be SOLD To Highest Bidder

March 30, 2024 9:17 pm Comments

All those properties Sam Bankman-Fried bought are now going to be liquidated to reimburse creditors.

Each of SBF’s 38 Bahamas properties will be sold in a bid by the FTX bankruptcy estate to fill in the gaps and make former customers and creditors of the now-defunct platform whole again.

At the time of this writing, Bankman-Fried’s property portfolio is worth a staggering $222 million.

While this represents a large sum, it doesn’t come anywhere close to fixing the $8 billion financial hole the former CEO caused.

Still, every little bit helps, and anything to help affected customers get their money back is a step in the right direction by FTX. Here’s more on the disgraced, former CEO’s properties:

The New York Post writes:

Among the seized assets is the infamous waterfront penthouse where the disgraced tycoon once held court with a revolving door of roommates.

But as FTX moves to liquidate these ill-gotten gains to repay creditors, including thousands of defrauded customers owed a whopping $16 billion, a new chapter unfolds in this sordid saga.

Pro XRP Attorney John Deaton commented: “Let’s not forget that SBF stole people’s money and gave his parents $10 million dollars.

He also used customer money to purchase luxury real estate and placed it in his parents’ name. Yet, his parents, Barbara Fried and Joe Bankman, have yet to be indicted.

Why? Is it because his mother runs a Super PAC called Mind the Gap, helping Democratic candidates get elected? Is it because his father is also connected to political leaders in Washington? His father Joe Bankman helped write Elizabeth Warren’s tax plan when she ran for President.”

According to Daily Mail, SBF’s victims were appalled by his light sentence:

One member of an FTX creditors group with the username ‘Bruno Dixon’ wrote on messaging app Telegram minutes after the sentence was handed down: ’25 years is a joke.’

Another member of the same Telegram group, going by Steven, said the sentence was ‘laughable for such a serious crime.’

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