FTX Co-Founder’s Alleged Extravagance Comes to Light in Bankruptcy Court Documents

Following the tribunal filing that shows FTX co-founder Sam Bankman-Fried (SBF) wants entree to FTX’s $460 cardinal successful Robinhood shares, Delaware bankruptcy tribunal documents amusement tens of millions were spent by the FTX squad successful 2022 connected surviving accommodations, hotels, food, and flights. Moreover, SBF’s quantitative trading steadfast allegedly owes much than $55,000 to Jimmy Buffett’s formation resort, Margaritaville, aft Alameda and FTX executives occupied 20 suites for a fewer months past year.

New Court Filings Detail Lavish Spending by FTX Co-Founder and Executives

With each tribunal filing published, it seems that FTX co-founder Sam Bankman-Fried’s (SBF) alleged “effective altruism” wasn’t a apical precedence during the past 9 months. On Jan. 8, 2023, Bitcoin.com News reported connected SBF telling the tribunal helium needed entree to the $460 cardinal successful Robinhood shares to “pay for his transgression defense.” Furthermore, the erstwhile FTX CEO explained that customers “face lone the anticipation of economical loss.”

SBF and his interior ellipse lived successful a $30 cardinal penthouse astatine the 600-acre Albany beachside luxury edifice successful The Bahamas. The 12,000-square-foot penthouse reportedly went connected the marketplace for merchantability successful mid-Nov. 2022.

Meanwhile, tribunal filings reviewed this week item that FTX’s and Alameda’s executives spent tens of millions lavishly connected residential accommodations, hotels, food, and flights past year. Records amusement that $15.4 cardinal was spent connected luxury hotels and accommodations. A large woody of that wealth was dedicated to paying for SBF’s $30 cardinal luxury penthouse astatine the Albany oceanside resort. $3.6 cardinal was utilized to acquisition edifice rooms astatine the Grand Hyatt, a four-star hotel, and $800,000 was spent astatine the Rosewood, a five-star hotel.

Reports besides amusement that Jimmy Buffett’s formation resort, Margaritaville, is owed much than $55,000 arsenic the resort’s absorption has registered arsenic a creditor successful the bankruptcy case. FTX’s and Alameda’s employees reportedly stayed successful 20 suites for a fig of months past year, racking up the measure but ne'er paying for the Margaritaville accommodations. In summation to hotels, fancy suites, and luxury apartments, $3.9 cardinal was spent connected flights and backstage aircraft. When an FTX worker needed an Amazon bundle picked up from Miami, they would allegedly usage a backstage level to vessel the boxes implicit to the island.

Other reports accidental the co-founder was truthful altruistic that SBF regularly spent much than $2,500 astatine the Nassau bistro for luncheon and tossed millions astatine Bahamian politicians and officials anterior to FTX’s collapse. Fox News disclosed that SBF besides owns a multimillion-dollar, 52-foot HCB yacht. On Jan. 6, 2023, Business Insider’s Pete Syme reached retired to SBF’s lawyers to inquire astir the ostensible lavish spending the FTX co-founder is said to person participated in. “Lawyers for FTX and Bankman-Fried didn’t instantly respond to Insider’s petition for comment,” Syme wrote.

What bash you deliberation astir the alleged lavish spending spree by SBF and FTX/Alameda executives? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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