FTX Crash: Inside Sam Bankman-Fried’s Luxurious $40 Million Bahamian Bunker

FIRST ON FOX: After ripping off up to a million investors out of billions of dollars worldwide, Fallen FTX cryptocurrency king Sam Bankman-Fried hides inside an ultra-luxury Bahamian resort, behind concrete walls and guarded checkpoints, a world apart from his clients as they scramble to recover their lost assets.

The Albany Resort southwest of Nassau covers 600 waterfront acres, with a “rare collection of amenities” that make it, according to the brochure, “a tranquil island getaway, a sportsman’s paradise, an elegant and a real community”.

It’s where the ultra-wealthy go to enjoy a tropical paradise uninterrupted by the common people.

Within the exclusive complex, sealed off from the public and guarded at land and sea entrances, members from around the world navigate palm-lined streets in golf carts while workers maintain the yachts, landscaping and of the activities inside.

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Sam Bankman-Fried’s $40 million penthouse is the jewel in the Orchid’s crown, named for its “custom-cut orchid facade,” which the Albany website says was inspired by the French Quarter of New Orleans. (Fox News Digital / Fox News)

Bankman-Fried’s $40 million penthouse sits atop the Orchid Building, the southernmost tower on the west side of Albany’s mega-yacht marina. The six-story structure is shaped like a yacht, facing south, out to sea, and maintenance fees have been listed at more than $20,000.

On the lawn is a copy of the Charging Bull of Wall Street statue, cast by the creator of the original Arturo Di Modica and purchased by Joe Lewis, a billionaire co-owner of Albany who, according to the artist’s obituary in The New York Times, also purchased the New York City sculpture on the condition that it never be moved from its location at Bowling Green park on Broadway.

Charging Bull statue in the heart of the Albany Resort

Albany co-owner Joe Lewis has reportedly bought several replicas of the Wall Street Charging Bull statue, all done by the original artist, including this one steps away from Sam Bankman’s $40 million penthouse- Fried. (Fox News Digital / Fox News)

A few steps away, in a beach house overlooking the Atlantic Ocean, is a replica of the Fearless Girl sculpture that was famously left in front of the bull in 2017 as part of a marketing campaign.

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Statue of the fearless girl overlooking the Atlantic Ocean

General view of the Fearless Girl statue at the Albany Resort in Nassau, The Bahamas on Friday, November 19, 2022. (AJ Skuy for Fox News Digital / Fox News)

The resort includes a mega yacht marina, a private school and a golf course designed by co-owner Ernie Els. In fact, Albany will host the Hero World Challenge tournament December 1-4 to benefit the Tiger Woods Foundation.

The hotel inside is open to members only with rooms starting at $5,100 a night.

There are bars, lounges, restaurants, and even a bodega inside, stocked with housewares, organic foods, and booze.

Map of Albania

A map shows Albany amenities and other areas of interest. (Fox News Digital / Fox News)

Residents can order the Whole Foods Market special grocery delivery, which are delivered in Fort Lauderdale and flown within Albany once a week, according to the grocer’s website.

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The green spaces include seven trails, for pedestrians, riders and cyclists, as well as golf cart lanes, driveways and rows of multimillion-dollar homes. There is a dog park, equestrian center, Rolex shop and other unique boutiques along the marina.

Sam Bankman-Fried is sitting in a chair

Sam Bankman-Fried, Co-Founder and Chief Executive Officer of FTX, in Hong Kong, China on Tuesday, May 11, 2021. (Lam Yik/Bloomberg via Getty Images/Fox News)

Forbes in 2019 called the Albany community “one of the most exclusive resorts in the world.” His ownership group includes Justin Timberlake, golfers Tiger Woods and Ernie Els, and British financier billionaire Joe Lewis.

Els designed the world class golf course on the property. There are also pools, tennis courts, a gym and spa, plus a small private theater and a CrossFit training center.

Side view of the Albany orchid

It’s a golf cart-only park outside Sam Bankman-Fried’s $40 million penthouse at the exclusive Albany Resort on the island of New Providence in the Bahamas. (Fox News Digital / Fox News)

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Bankman-Fried has purchased additional condo units for another $32 million in recent years, according to Reuters, bringing its real estate holdings in the Bahamas to at least 19 properties worth about $121 million.

Bankman-Fried ignored inquiries from Fox News Digital about whether his purchases on the island of New Providence were paid for with customer goods.

Steps to beach at end of walkway

The Atlantic Ocean is about 100 meters from Sam Bankman-Fried’s $40 million penthouse. (Fox News Digital / Fox News)

A handful of executives from his inner circle lived with Bankman-Fried in Orchid Penthouse 6, which has a rooftop pool and balcony with water views on three sides. According to previous real estate listings, it has five bedrooms, 7.5 bathrooms, and a full-sized bar.

A man prepares Sam Bankman-Fried's penthouse balcony

A man prepares Sam Bankman-Fried’s penthouse balcony in the Bahamas ahead of a storm on Monday, Nov. 22, 2022. (AJ Skuy for Fox News Digital / Fox News)

John Ray, who was named CEO of FTX after Bankman-Fried revealed his financial woes, declared bankruptcy and resigned, claimed in court that FTX and its dozens of subsidiaries lacked functional accounting and human resources departments, and Bankman-Fried had received a $1 billion personal loan from one of his own firms.

The beach of Albania

The pristine water of the Atlantic Ocean is just a short walk down a palm tree lined path. (Fox News Digital / Fox News)

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of reliable financial information as occurred here,” he wrote, after noting twice working on Enron’s collapse, in a statement in court this week. “From compromised systems integrity and faulty regulatory oversight overseas, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”

In a hearing on Tuesday, attorneys revealed that the Justice Department has also opened an investigation into hacking attempts at FTX and a “substantial” amount of the company’s assets that have gone missing.

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FTX’s attorneys noted that the company, under its former management, disbursed about $300 million in Bahamian real estate used by executives, and the company currently owes its top 50 creditors more than $3 billion.

A spokesperson for Bankman-Fried’s parents, Stanford University law professors Joseph Bankman and Barbara Fried, told Reuters this week that the couple were seeking to “return the deed” to a nearby Old Fort Bay property to FTX. after bankruptcy. Old Fort Bay is a separate gated community, where Bankman-Fried’s parents have been listed as signatories to properties purchased with FTX funds, according to the Reuters report.

SBF penthouse overlooks the beach

General view of The Albany Penthouse and surrounding area in Nassau, Bahamas on Friday, November 19, 2022. (AJ Skuy for Fox News Digital / Fox News)

The parents were spotted with their son and several others on the balcony of Bankman-Fried’s penthouse on Monday afternoon, a day after neighbors told Fox News Digital the former FTX CEO had holed up inside and was just out since his company filed for bankruptcy earlier this month.

Bankman-Fried’s expenses in Albany add to lavish expenses for U.S. political campaign contributions, catering for his employees, amounting to $10,000 a day from local restaurants, and a $60 million vacant lot that would supposed to be the new headquarters of FTX. Despite the project starting earlier this year, it’s nothing more than a weed-enclosed area next to the ocean.

Albany Resort entrance

General view of the entrance to the Albany resort in the Bahamas, Thursday, November 17, 2022. (The Mega Agency for Fox News Digital / Fox News)

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Bankman-Fried has donated nearly $40 million to Democrats in 2021 and 2022, according to the Federal Election Commission, and also about $260,000 to Republican candidates.

Throughout the Bahamas, his millions of dollars in donations to local charities and the government of the islands prompted local media reports that his “tentacles stretched far” across the archipelago.

Breck Dumas, Thomas Catenacci and Greg Norman of Fox News contributed to this report.

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