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…