Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report - The Daily Hodl
The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange's bankruptcy estate for allegedly misappropriating funds....
- The parental guardians of former FTX CEO Sam Bankman-Fried, Joseph Bankman and Barbara Fried, are being sued by the FTX estate for allegedly misappropriating funds.
- Prosecutors claim that Bankman described Alameda as a "family business" and used it to refer to the FTX Group.
- Bankman and Fried's lawyers argue that the allegation is an attempt to intimidate them before their child's trial.
- Previous court filings revealed that Bankman-Fried collected millions of dollars in cash payments from FTX, including $200 million on two separate occasions.
- FTX also paid for the yacht of Sam Trabucco, the former co-CEO of FTX's trading arm Alameda Research, and made cash payments to other former FTX executives.
The article presents allegations of misappropriation of funds by the parental guardians of Sam Bankman-Fried. The sentiment is negative as it highlights illegal payments and suggests wrongdoing.