Bahamas Govt. wants back $256M that FTX spent on Island's Real Estate.

By The Exchange Team

Bahamas lawyers say FTX CEOs Sam and Ryan Salame spent $256.3M to buy and maintain 35 homes in New Providence.

Now Bahamas regulators want the property back from FTX's U.S. bankruptcy proceedings.

Notifying a Delaware Federal bankruptcy judge that administering the assets in U.S. courts would be ineffective and illegal under Bahamas law.

It unveils FTX's massive real estate spending. The modest island development where Bankman-Fried lived cost tens of millions.

FTX's holding firm purchased 15 homes and one vacant lot for roughly $143 million.

Two of Albany's largest residences cost $30 million, while another cost $21.3 million.

Bankman-Fried and Salame, also invested over $25M in the Veridian Corporate Center, their present headquarters.