Based on the submitting dated September 11, 2023, the full worth of FTX Bahamas Properties has been assessed to be value $199 million. The court docket submitting mentioned that the 38 properties within the Bahamas with $222 million e-book worth had been appraised at $199 million. This is a vital growth within the case, within the context of the money diversion allegations confronted by FTX founder Sam Bankman-Fried.
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$199 Million Value Property In Bahamas
The corporate revealed that $2.2 billion value in money, crypto, fairness and actual property worth was acquired by Sam Bankman-Fried, Nishad Singh, Zixiao Gary Wang, and Caroline Ellison amongst 46 others. The submitting confirmed that the FTX Bahamas properties included 15 properties by the title Albany Marina Residences value $151 million and $34 million throughout 5 further properties. Additional, the crypto trade acknowledged within the submitting that it has organized about $7 billion in property together with $1.16 billion value of Solana ($SOL) and $560 million value of Bitcoin ($BTC).
In November 2022, CoinGape reported that Sam Bankman-Fried’s dad and mom and senior FTX executives have bought a number of properties throughout the Bahamas. On the time, the official property information had been reported to have proven a complete value of $121 million within the 2 years earlier than the FTX collapse. In a latest growth, the FTX founder has sought the court docket a reduction of 5 days per week outdoors the court docket for engaged on his protection case.
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