Crypto exchange FTX sues the parents of founder Sam Bankman-Fried
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Today it became known that representatives of the bankrupt crypto exchange FTX filed suing the parents of the founder of this exchange, Sam Bankman-Fried, Stanford University professors Joseph Bankman and Barbara Fried.
The plaintiffs believe that the parents not only knew about their son’s fraud with client funds of the exchange, but also used it for personal enrichment. John Ray, one of FTX’s external managers seeking funds to pay compensation to the exchange’s clients, said that Sam Bankman-Fried ran the crypto exchange “like his family company” and acted in the interests of a narrow circle of people, including his friends and close relatives, to the detriment of clients. .
Lawyers for Joseph Bankman and Barbara Fried strongly deny all allegations against their clients, calling them a baseless attempt to involve parents in the process. Previously, one of the former FTX executives, Ryan Salame admitted in financial fraud, and Mr. Bankman-Fried himself is being tried sent under arrest, revoking his $250 million bail.
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