The major clawback attempt, which targets over a billion dollars worth of cash and other assets lawyers claim Sam Bankman-Fried and other executives illegally took or reinvested, says that Bankman-Fried is using part of a $10 million transfer to his law professor father to finance his criminal defense.
, aiming to take back funds they say were unlawfully invested or given to companies or individuals by Bankman-Fried and FTX executives. Lawyers for the company claim that Bankman-Fried is now using the remaining funds he gave his father to fund his own criminal defense.In another instance detailed in the lawsuit, Sam Bankman-Fried’s younger brother, Gabriel, at one point outlined a plan to purchase Nauru, a sovereign island microstate within Micronesia, in order to create a post-apocalyptic haven for believers in effective altruism.
Adds the bankruptcy complaint: “The memo further noted that ‘probably there are other things it’s useful to do with a sovereign country, too.’”