FTX spent $300M on Bahamas real estate, 'substantial' assets missing, lawyers say

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An attorney said the $300 million spent on real estate was largely homes and vacation properties for senior staff.

FTX has asked Judge John Dorsey to sign off on initial steps in its bankruptcy, including paying employees and critical vendors, which will allow it to continue operating during Chapter 11 bankruptcy proceedings.

FTX, led since the bankruptcy filing by new CEO John Ray, has accused Bankman-Fried of working with Bahamian regulators to “undermine” the U.S. bankruptcy case and shift assets overseas.Sam Bankman-Fried.FTX is also seeking to indemnify unidentified individuals for actions they took and continue to take in connection with assets that represent a significant share of the company’s estate, according to a Tuesday court filing.

Major U.S. crypto lender Genesis said on Monday it was trying to avert bankruptcy, days after FTX’s collapse forced it to suspend customer redemptions.

 

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Democrats scam

It’s ironic that the only thing with some value left is the real estate. Who would’ve thought…

How is this guy not yet charged with any crimes?

Who were the Democrat recipients of all this stolen money

NBC is covering for this criminal😂😂

We now know where SBF_FTX & FTX_Official saw the future by storing value in real assets not shitcoins. We need real money backed by real assets for economic equality. This is why John Law proposed Landmoney.

leave him alone he is a democrat and is their biggest donor, concentrate on who Trump is having dinner with

Posted repeatedly for DAYS...

Stealing customers money.

Cash OUT the HOMES

It's called a ponzi scheme... Crypto is a scam.

Good lord!

Biden's holiday home?

How much did he “donate” to democrats? It’

I imagine most folks who lost their investment are probably regretting the time they wasted watching crypto bros give 'advise' on YouTube. Others will double down and set themselves up for another rug pull.

Unreal sick humans watching others starve to death

The oligarchy does whatever it wants

2nd largest Democrat donor lost billions overnight and is being criminally investigated yet it's not 24/7 news for MSM Funny how that works

Chappelle was

SBF stole billions from you. Here's how we're protecting fallout against the Democrat's 2nd largest donor with possibly laundered money...

All that money and he can't buy a comb

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SBF, FTX execs reportedly spend millions on properties in the BahamasThe properties were all purchased within the last two years, one of which is known to be a $16.4 million “vacation home” in the name of the parents of Sam Bankman-Fried. And yet SBF virtue signals with a Corolla. What a peice of work. Total scam! Breaking: Farms are live!! 50% APY on ETH , BTC , BNB and other Bluechips 🤯 No impermanent loss and 100% trustless!! 🤯 crypto defi Binance 🚀🚀🚀
Source: Cointelegraph - 🏆 562. / 51 Read more »