FTX scandals are endless. The scandals got worse when the cryptocurrency firm FTX, founded by former CEO Sam Bankman-Fried, went bankrupt, donated $300 million worth of homes to their relatives, and people couldn’t withdraw their funds from the platform.

Another scandal has surfaced. This time, the scandal really reveals that FTX is a scam platform. Earlier this year, Sam Bankman-Fried, former CEO of FTX, invested in a bank worth twice its value.

Sam Bankman-Fried invests $11.5 million in Farmington State Bank

The so-called bankrupt ex-CEO Sam Bankman-Fried has, according to the scandal that emerged, the Farmington State Bank (26th smallest bank in the USi) vol He invested $11.5 million. You see the photo of the bank, this amount is almost double the value of the bank.

Oddly enough, this tiny bank only had 3 employees before SBF invested and only served a small town of 146 people. In the past 10 years, the bank He had a $10 million down payment and generally made agricultural loans.

After Sam Bankman’s investment earlier this year, the deposits are only in 4 bank accounts jumped to $84 million. The $11.5 million invested in an interview with the bank was only 10% owned by the bank. The bank’s deposits amounted to $10 million while its value was $115 million.

When this all comes together, Sam Bankman saw what would happen months ago, and he started working on self-confidence is being considered. Of course there are also people who say that this place is used as a money laundering point.