The bailiffs involved in the bankruptcy case of the bankrupt cryptocurrency exchange FTX in the Bahamas investigated company assets.
Court-appointed bailiffs for FTX Digital Markets, the company’s subsidiary in Bahama, have prepared a new report for physical assets in the island nation.
FTX purchased 52 properties in the country on behalf of stockbrokers and Bankman-Fried’s relatives, according to a document submitted to the supreme court this week. Enforcement officers determined the total market value of these properties, which are mostly residential and office properties, at $255 million.
Enforcement officers explained in the report they prepared that they could not find where the employees are at the moment:
“Many of the employees are no longer with FTX Digital. Many of the company’s units are made up of individuals who have immigrated to the Bahamas on a work visa. After the news of the bankruptcy, they all left the country.”
According to the report prepared by the authorities, FTX only spent $ 2.4 million on car rental services and $ 500 thousand on office equipment. After the bankruptcy court’s approval, the said assets will be put up for sale through enforcement.
For the digital assets of the sunken crypto exchange, the decision was made much earlier. The Bahamas Supreme Court has decided to confiscate the cryptocurrencies that FTX had access to after filing for bankruptcy in the United States.
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