Corporate funds were used by FTX to purchase homes for the benefit of employees, a bankruptcy filing from new CEO John Ray III said.
The logo of FTX is seen on a flag at the entrance of the FTX Arena in Miami, Florida, November 12, 2022.Corporate funds were used to purchase homes in the Bahamas and "personal items" in the name of employees and advisors of FTX, a bankruptcy declaration said, days after the penthouse apartment of founder Sam Bankman-Fried was listed for nearly $40 million.
A penthouse home in the same private complex that Bankman-Fried and other FTX executives lived in was listed for just under $40 million a few days ago. The penthouse has beenexcoriated the former executive Auditing for one of the FTX corporate verticals – what Ray referred to as "Silos" – was done by Prager Metis, a firm with "which I am not familiar," Ray wrote.
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