FTX founder and two senior execs are 'under observation by authorities' holed-up in luxurious Bahamas resort owned by Tiger Woods and Justin Timberlake - as they 'plot escape to non-extradition safe haven Dubai'
The disgraced founder of FTX is currently holed up in a luxurious Bahamas resort with two of his closest lieutenants as his crypto empire continues to crumble
A new report says that Sam Bankman-Fried, 30, is plotting an escape to Dubai, a land with no extradition treaties
The Wall Street Journal reported on Thursday that the US Department of Justice was plotting an investigation into FTX's practices
Bankman-Fried, is reportedly with his co-founder, Gary Wang, and the company's director of engineering Nishad Singh
By PAUL FARRELL FOR DAILYMAIL.COM
PUBLISHED: 02:21 EST, 13 November 2022 | UPDATED: 02:45 EST, 13 November 2022
The founder and former CEO of collapsing crypto trader Sam Bankman-Fried is said to be holed up with members of his inner circle in the Bahamas while his empire collapses around him.
Bankman-Fried, 30, resigned from FTX on Friday, as the crypto exchange filed for bankruptcy and reports emerged that up to $2 billion in client funds had vanished from the company's books in recent weeks.
According to Coin Telegraph, the disgraced former CEO is holed up at the Albany Tower alongside FTX co-founder Gary Wang and the company's director of engineering Nishad Singh.
It's not clear if Wang, who is FTX's Chief Technology Officer, and Singh, the company's director of engineering, have also resigned their positions at the crypto trader.
A source told Coin Telegraph: 'Right now three of them, Sam, Gary, and Nishad are under supervision in the Bahamas. Which means it will be hard for them to leave.'
The same source said that it was Bankman-Fried's plan to escape to Dubai in the United Arab Emirates, a country with no extradition treaties, as the walls close in around him.
The Wall Street Journal reported on November 9 that the the U.S. Department of Justice and the Securities and Exchange Commission were plotting an investigation into FTX.
The source added that Bankman-Fried's father, Joseph, is also present.
DailyMail.com has reached out to Bankman-Fried for comment.
The resort where Bankman-Fried is hiding out is owned by golfing legend Tiger Woods, British billionaire Joe Lewis and singer Justin Timberlake.
A 2018 Forbes feature referred to the Albany as 'one of the most exclusive resorts in the world.' The article noted that the residencies at the resort are owned by 'some of the globe's richest few' while also having vacation rentals.
The Coin Telegraph report also speculates that the group are being monitored by authorities in the Bahamas and will be forbidden from leaving the country.
That have been multiple rumors swirling around Bankman-Fried's whereabouts since the collapse of FTX. In various messages to reporters, he has denied that he escaped to Argentina.
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