🚨Hot off the press!🚨 Former FTX Digital Markets co-CEO, Ryan Salame, is waving goodbye to his $5.9 million Bahamian abode! 🏝️ As part of a plea agreement, he's transferring his luxurious property to FTX Digital Markets Ltd, satisfying a $5.6 million restitution debt. 🏠💰

This intriguing twist comes after Salame pleaded guilty to criminal charges in September 2023. Instead of coughing up the cash, he's opted to hand over the keys to his Bahamas residence. 🗝️

Debtors are cheering this move, claiming it's in their best interest. They're avoiding a hasty sale of the property at a discount, thus preserving their ability to monetize other Bahamian properties. 🏘️💵

But wait, there's more! Court filings reveal Salame agreed to purchase a property in September 2021 for a cool $7.2 million. 💸 The plot thickens as FTX DM transferred $8.1 million from its Bahamian bank account to Salame's real estate attorney. 🧐

Fast forward to March 2022, Salame and Alameda inked a promissory note, committing to repay the $8.1 million. But alas, FTX and Alameda hit a rough patch and collapsed in November 2022, leading to bankruptcy filings. 📉

Salame's sentencing is set for May 28, 2024. Meanwhile, former FTX CEO, Sam Bankman-Fried, is serving a 25-year sentence. 🏛️ Stay tuned for more updates on this unfolding drama! 🍿🎬