FTX Bankruptcy Estate Sues Sam Bankman-Fried’s Parents, Joseph and Barbara, to Claw Back ‘Misappropriated Funds'

CoinDesk
CoinDesk

19 Sep 2023 4:55 AM

The filing, redacted in parts, asks the court to award the FTX estate damages, the return of any property given or payment made to the parents....

  • Bankrupt crypto exchange FTX has filed a lawsuit against the parents of its founder and former CEO, Sam Bankman-Fried, to recover fraudulently transferred and misappropriated funds.
  • The lawsuit seeks damages, the return of any property or payment made to the parents by FTX, and punitive damages.
  • The filing alleges that Bankman and Fried used their knowledge and expertise to enrich themselves at the expense of FTX.
  • It also accuses Bankman of helping other FTX insiders dissipate funds and cover up a whistleblower complaint.
  • The parents' attorneys deny the claims, calling them false and an attempt to intimidate their clients.

The sentiment of the article is negative, as it discusses allegations of fraud, misappropriation, and unethical behavior by the parents of FTX's founder.

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