(Natural News) Over the past two years, the parents of Sam Bankman-Fried (SBF), the criminal head of the now-defunct FTX cryptocurrency exchange Ponzi scheme, “bought at least 19 properties worth nearly $121 million in the Bahamas,” new reports claim.
Citing official property records, Reuters reports that it was not just “executives” at FTX and Alameda that were stealing investor cash and using it to pad their own pockets and buy expensive properties. SBF and his family were doing the same without shame.
Most of the properties that SBF’s parents bought in the Bahamas using stolen funds were “luxury beachfront homes, including seven condominiums in an expensive resort community called Albany, costing almost $72 million,” we are told.
Keep in mind that all of these properties were officially purchased by a unit of FTX. (Related: Before collapsing under the weight of fraud, FTX had a higher ESG [environmental, social, and governance] score than ExxonMobil.)
According to the properties’ deeds, all of them were to be used as “residence for key personnel.”
“Other high-end real estate purchases include three condominiums at One Cable Beach, a beachfront residence in New Providence,” the Reuters report further reveals.
“Records showed the condominiums cost between $950,000 and $2 million and were bought by Nishad Singh, the former head of engineering at FTX, Gary Wang, an FTX co-founder, and Bankman-Fried for residential use.”
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