Monday, 28 Nov 2022

Sam Bankman-Frieds $40m Bahamas penthouse reportedly up for sale

Sam Bankman-Frieds $40m Bahamas penthouse reportedly up for sale


Sam Bankman-Frieds $40m Bahamas penthouse reportedly up for sale

Sam Bankman-Fried, the crypto trader entrepreneur at the center of the FTX scandal, reportedly put his luxury $40m Bahamas penthouse up for sale on Friday - the same day the cryptocurrency exchange filed for bankruptcy.

Bankman-Fried's penthouse - "the Orchid", located in Albany, an exclusive private community in Nassau - was listed by real estate agent Seaside Bahamas at $39,500,000. The offering was first reported on Twitter by Autism Capital.

Bankman-Fried, 30, is believed to have lost close to $16bn overnight eight days ago and is now facing investigation by US authorities. FTX was frozen by Bahamian regulators on Friday. Reports suggest at least $1bn in investor assets are missing.

A real estate broker for the 12,000-sq ft, five-bedroom residence said on Monday the penthouse was put up for sale in the last week but declined to name the owner. The news outlet Semafor, which counts Bankman-Fried as an investor, said current and former FTX employees confirmed ownership.

Calls to Seaside Bahamas went unanswered on Monday; the property appears to have been sold to Bankman-Fried by another property company, Graham Properties, in March this year. A spokesman for Graham said they were not authorized to discuss the sale.

According to the listing, the Orchid was designed by the high-end New York firm Morris Ajmi Architects, and it overlooks the Albany marina and the Atlantic Ocean.

"The marina residences of Albany are considered the ultimate in luxury waterfront living in the Caribbean of which the penthouse in Orchid is the cornerstone," the listing says.

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