Tuesday, September 19, 2023

But They Were The Best People

Part of the PR for SBF was, basically, his parents were accomplished people in academia so he couldn't possibly be bad.
Bankrupt crypto exchange FTX is looking to claw back luxury property and “millions of dollars in fraudulently transferred and misappropriated funds” from the parents of Sam Bankman-Fried, the exchange’s disgraced ex-CEO and founder.

In a Monday court filing, lawyers representing the bankruptcy estate of the failed exchange alleged that Allan Joseph Bankman and his wife, Barbara Fried, “exploited their access and influence within the FTX enterprise to enrich themselves, directly and indirectly, by millions of dollars.”
There's some pretty damning stuff: Bankman playing a huge rule in FTX/Almaeda despite earlier obfuscations, and Fried trying to get around (legally or not) disclosure requirements for campaign contributions.