Sam Bankman-Fried
Sam Bankman-Fried's criminal trial started on Tuesday.
  • Prosecutors in the criminal trial against Sam Bankman-Fried shared photos of a condo he once lived in.
  • The prosecutors said the penthouse in the Bahamas was worth about $35 million.
  • The condo includes a rooftop pool, a floor-to-ceiling view of the ocean, two spas, and at least six bathrooms.

Prosecutors pointed to Sam Bankman-Fried's lavish lifestyle during the criminal trial against the FTX cofounder, sharing photos of the penthouse condo in the Bahamas Sam Bankman-Fried once lived in, which they claim was worth about $35 million.

Bankman-Fried's lawyers had requested some of the photos of the condo be kept out of evidence, but Judge Lewis Kaplan denied the request.

In the trial, which started on Tuesday, Bankman-Fried is being accused of fleecing FTX customers and investors out of billions of dollars, some of which they allege was used for personal or family-related real-estate purchases, and commingling funds between his crypto currency exchange platform and its affiliated hedge fund, Alameda Research.

Take a look inside the condo where Bankman-Fried and his coworkers spent much of their time.

After Bankman-Fried shifted FTX's operations to the Bahamas in 2021, he moved into an expensive resort community in Nassau called Albany.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

The 600-acre Albany community was founded by a group of investors that includes several in celebrities such as Tiger Woods, Will Smith, and Justin Timberlake, Fortune previously reported.

Between 2020 and 2022, Sam Bankman-Fried, his parents, and some of the executives at his companies bought about 19 different properties in the Bahamas, Reuters reported last year.

The publication said the purchases included seven condos at the Albany location which came to about $72 million in total.

 

The penthouse Bankman-Fried lived at was in a building in the Albany community called "the Orchid."
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

"Orchid — the building closest to the ocean, the one with the most sweeping views — was more subtle," Michael Lewis wrote in his book on Bankman-Fried, comparing the building to other Albany properties. "It looked nothing like an orchid in any light, but its exterior was wrapped with an aluminum sheath whose pattern was meant to call to mind the tropical flower."

The property was listed for sale for nearly $40 million the same day FTX filed for bankruptcy last year. But, the listing has since been taken down.

Bankman-Fried lived in the condo with several of his coworkers.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

According to Lewis, Bankman-Fried lived at the condo with his on-and-off again girlfriend and then-Alameda Research CEO Caroline Ellison, FTX cofounder Gary Wang, former FTX engineering director Nishad Singh, and his college friend Adam Yedidia.

The author said Bankman-Fried was later "booted" out of the condo by Ellison.

On Wednesday, Yedidia testified that he lived in the condo with nine other people, including Bankman-Fried. Yedidia said the property was bought for about $35 million by Alameda Research at Bankman-Fried's direction.

 

 

The penthouse is 12,000 square feet and its floor-to-ceiling windows overlook the Albany marina and the Atlantic Ocean.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

"Every aspect of the penthouse was meticulously designed with Venetian plaster walls matching Italian marble accents throughout, German engineered doors and windows, and wired throughout for sound," the listing said, according to a report from The Guardian.

The condo had plenty of space for people to stay.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

The bedrooms in the condo include a master bedroom with two bathrooms attached, as well as four bedrooms each equipped with their own bathrooms, according to The Guardian.

 

It also has a private spa attached to the master bedroom, according to The Guardian.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

The spa has an outdoor television and a sitting area.

It's unclear whether Bankman-Fried occupied the master bedroom while he lived there. Lewis wrote that each of the occupants slept in mostly identical rooms.

The living room and dining area overlook an outdoor pool and jacuzzi.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

Pictures of the living room show either a set of binoculars or a small telescope near the dining room table.

Photos of the lavish condo appear at odds with Bankman-Fried's public statements about his lifestyle, including his emphasis on effective altruism.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

"I'm not that much of a consumer, exactly," he once told an interviewer.

Bankman-Fried has said in the past that he was aiming to make as much money as possible so that he could put the money toward doing as much good as possible. He once told Bloomberg he planned to keep just 1% of his earnings and give the rest away.

"Look, there are a lot of things that I think have really a massive impact on the world," Bankman-Fried told The New York Times in November, saying the things he'd done at FTX had been for the good of humanity. "And ultimately that's what I care about the most. And, I mean, I think frankly that the blockchain industry could have a substantial positive impact. I was thinking a lot about, you know, bed nets and malaria, about, you know, saving people from diseases no one should die from."

 

The Orchid building lights up purple at night, according to Lewis' book.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

"The purple light made it seem glamorous, and elicited envy even from those accustomed to being envied," Lewis wrote.

The condo also has an outdoor grill and cooking area.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

Though, Bankman-Fried was unlikely to enjoy a barbeque outside as he has said he's vegan.

The condo also appears to have multiple massive TVs.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

Bankman-Fried has been known to be an avid video game player.

Lewis wrote in his book that the FTX cofounder played video games during his first live television interview and games during business phone calls.

The condo's television room features a "Harry Potter" poster.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

Lewis wrote in his book that Bankman-Fried read J.K. Rowling's series several times during his youth, but started to dislike books as he grew older.

The penthouse overlooks a yacht marina. Though, Bankman-Fried does not appear to own a yacht.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

During the trial, Bankman-Fried's lawyers unsuccessfully contested the use of pictures related to the marina because they said it would make it seem as if the FTX cofounder owned a yacht to the jurors.

The former FTX CEO has said in the past that the only reason superyachts exist is because billionaires "can't figure out what to do with their money."

"When you think about yourself personally, about spending money on yourself, how much can you spend usefully on yourself?" Bankman-Fried told Yahoo Finance Live in April 2022 before FTX collapsed. "You can buy nice food. You're talking about hundreds of thousands a year, right? You get to millions a year with fancy things, but after the 10th car, it's not fair what you're doing."

 

The perimeter of the condo is lined with a balcony that looks out on the water.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

Lewis said in his book that the condo overlooked a beach, but Bankman-Fried and his colleagues rarely walked the beach or enjoyed the penthouse's views of the ocean.

The penthouse has an outdoor fire pit.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

The Albany resort community also has an 18-hole golf course and 11 private restaurants, according to Fortune.

The kitchen has a long island and a door wall that opens out onto the wraparound balcony.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

The kitchen is also equipped with a television screen.

The penthouse also appears to have an extended pantry area located off of the kitchen.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

The area appears to look out into another room.

The condo also has its own bar.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

While the bar appears fully stocked in the photos, Bankman-Fried and his colleagues have been depicted as anything but heavy drinkers.

On Tuesday, Bankman-Fried's lawyers argued that the crypto whiz was a "math nerd who didn't drink or party." In his book, Lewis wrote that a glass of wine was an "act of hedonism" for the occupants of the penthouse.

Despite its fancy features, Bankman-Fried and his coworkers turned the luxury penthouse into a "flophouse," according to Lewis.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.
Prosecutors shared photos of Sam Bankman-Fried's $35 million penthouse in the criminal trial against the FTX cofounder.

He said they took away from the chic appeal of the house with nerdy gadgets and haphazardly discarded paraphernalia.

"One wall was now obscured by a row of computer monitors whose cords snaked across the marble like jungle vines," Lewis wrote in his book, referring to the condo's occupants as effective altruists or EAs. "A cheap Ikea-like bookshelf groaned under the weight of the EAs' favorite board games: Galaxy Trucker, Wingspan, 7 Wonders, more than one chess set."

Read the original article on Business Insider