FTX attorneys accuse Sam Bankman-Fried's parents of unjustly enriching themselves with company funds

The lawsuit alleges that Bankman, a Stanford University law professor and expert in tax law, and Fried, a retired Stanford law professor, participated in the wrongdoing that led to the collapse of FTX and resulted in both criminal and civil investigations.

Attorneys for Bankman and Fried issued a statement denying the allegation and taking aim at John Ray III, who was named CEO when FTX sought bankruptcy protection and is charged with trying to clean up the mess left by its collapse. The complaint also states that more than $18.9 million in FTX funds was used to purchase a 30,000-square-foot luxury residence in the Bahamas for Bankman and Fried, who also benefited from more than $90,000 in FTX-funded expenses to furnish and maintain the property.

“Fried focused heavily on masking Bankman-Fried’s identity as a political donor. She regularly raised this issue in email communications with Bankman-Fried and advised him on avoidance of such disclosure,” according to the lawsuit.

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FTX attorneys accuse Sam Bankman-Fried's parents of unjustly enriching themselves with company fundsDOVER, Del. (AP) — Lawyers for collapsed cryptocurrency exchange FTX Trading have filed a lawsuit accusing the parents of Sam Bankman-Fried of exploiting their influence over their son and the company he founded to enrich themselves by millions of dollars. The complaint filed Monday against Allan Joseph Bankman and Barbara Fried in the FTX bankruptcy case in Delaware seeks to recover damages allegedly caused to the company through breaches of fiduciary duties, fraudulent transfers, unjust enrich
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FTX attorneys accuse Sam Bankman-Fried’s parents of siphoning millions of dollars from companyFTX attorneys have filed a lawsuit accusing Sam Bankman-Fried’s parents of unjustly enriching themselves with company funds
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