A property linked to Sam Bankman-Fried’s political spending was taken off the market by a seller in “good faith” after being linked to FTX client funds, the Wall Street Journal reported.
Homelocated a few blocks from the United States Capitol, in the Capitol Hill neighborhood, is owned by Guarding Against Pandemics, a non-profit organization created by Gabriel Bankman-Friedbrother of the former CEO of the bankrupt exchange.
In court documents from January, FTX’s new management claimed client funds had been siphoned off to purchase the property for $3.3 million. Guarding Against Pandemics withdrew the ad after the estate agent was contacted by the media about the property.
A Guarding Against Pandemics spokesperson told the WSJ that Gabriel is no longer part of the organization. FTX creditors recently requested subpoenas for documents from Bankman-Fried’s mother, Barbara Fried, and Gabriel, claiming they had not responded to previous requests for information..
According to property records, the nonprofit attempted to sell it for the same price it paid in April 2022 to lobbyist Mitch Bainwol and his wife, Susan Bainwol..
The three-story building is 4,100 square feet, has four bedrooms, and was apparently being used as an office for the organization., with workstations installed in several rooms. The real estate company in charge of the sale organized some open days, but no purchase offer was received.
FTX Donations to Political Parties and Candidates Are Being Investigated by the US Attorney’s Office. Bankman-Fried was the second highest “CEO contributor” to Joe Biden’s 2020 presidential campaign, contributing 5.2 million dollars. Days before the November 2022 midterm elections, he admitted to being a “significant donor” to both sides of the political spectrum in Washington.
The exchange’s new management team has been working to identify funds to pay off creditors since it filed for bankruptcy on Nov. 11.. According to FTX attorney Andy Dietderich, the exchange had “recovered $5 billion in cash and liquid cryptocurrency” as of January.
According to Cointelegraph, Refund clauses could force companies and investors to return billions of dollars paid in the months before the cryptocurrency exchange went bankrupt.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Keep reading:
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.
