Sam Bankman-Fried’s extravagances and delusions are revealed in bankruptcy court documents

In addition, Sam Bankman-Fried’s quantitative trading firm is owed more than $55,000 by Jimmy Buffett’s resort, Margaritaville, after Alameda and FTX executives occupied 20 suites for a few months last year.

New court documents detail lavish spending by FTX co-founder and executives.

With each release of court documents, it seems that FTX co-founder Sam Bankman-Fried (SBF), allegedly “effective altruism” was not a top priority during the past nine months. On January 8, 2023, Sam Bankman-Fried told the court that he needed access to $460 million in Robinhood stock to ” pay for his criminal defense “. In addition, the former FTX CEO explained that customers “are only faced with the possibility of an economic loss.

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FTX co-founder's alleged extravagances are revealed in bankruptcy court documents.
SBF and his inner circle lived in a $30 million penthouse in the 600-acre luxury resort of Albany in the Bahamas. The 12,000-square-foot penthouse reportedly went on sale in mid-November 2022.

Meanwhile, court filings reviewed this week show FTX and Alameda executives spent tens of millions of dollars on housing, hotels, food and flights last year. Records show $15.4 million was spent on luxury hotels and lodging. Much of this money was used to pay for SBF’s $30 million luxury penthouse in the Albany resort. 3.6 million was used to buy hotel rooms at the four-star Grand Hyatt, and $800,000 was spent at the five-star Rosewood.

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In addition to hotels, luxury suites, and luxury apartments, $3.9 million was spent on flights and private planes. When an FTX employee needed an Amazon package picked up in Miami, he reportedly used a private plane to transport the boxes to the island.

Other reports claim that SBF was so altruistic that he regularly spent more than $2,500 at the Nassau Bistro for lunch and threw millions at Bahamian politicians and officials before FTX collapsed. Fox News disclosed that SBF also owns a 52-foot HCB yacht worth several million dollars.

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