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It turns out that it wasn’t just FTX “executives” or politicians reaping the benefits of the FTX crypto Ponzi scheme.
Over the past two years, Sam Bankman-Fried’s parents were also among a group that “bought at least 19 properties worth nearly $121 million in the Bahamas,” Reuters reported, citing official property records.
Most of the property purchases were “luxury beachfront homes, including seven condominiums in an expensive resort community called Albany, costing almost $72 million”, the report says.
The properties were officially purchased by a unit of FTX.
