Real Estate

FTX used corporate funds to purchase employee homes, new filing shows


The logo of FTX is seen on a flag at the entrance of the FTX Arena in Miami, Florida, November 12, 2022.

Marco Bello | Reuters

Corporate funds were used to purchase Bahama homes 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.

It is not immediately clear what the source of those corporate funds was.

In a declaration to the court, newly appointed FTX CEO John Ray III said that a lack of disbursement controls meant accounting for spending was done in a way that was not “appropriate for a business enterprise.”

Corporate housing arrangements are not…


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