According to the filing dated September 11, 2023, the total value of FTX Bahamas Properties has been assessed to be worth $199 million. The court filing said that the 38 properties in the Bahamas with $222 million book value were appraised at $199 million.
Sam Bankman-Fried’s parents and senior FTX executives purchased several properties across the Bahamas. At the time, the official property records were reported to have shown a total worth of $121 million in the 2 years before the FTX collapse.
In an interesting revelation, the crypto exchange also mentioned that $86.6 million in political and charitable donations were paid to third parties. It has been reported that the FTX founder has made one of the biggest donations for US President Joe Biden’s 2020 political campaign. In this respect, Bankman-Fried is facing campaign finance violations in the US Courts.