FTX Founder Allegedly Used Investor Funds for His Lifestyle

Once hailed as a genius, Sam Bankman-Fried’s cryptocurrency exchange FTX was valued at $32 billion and was promoted by celebrities including Larry David. However, Bankman-Fried’s empire came crashing down after he was arrested in the Bahamas for fraud. He lived in a luxury penthouse at a marina in the Bahamas with his girlfriend, Caroline Ellison, and eight other friends. Ellison fled the island and is believed to be hiding out in Manhattan.