- Lawyers want to bring in SBF’s parents for questioning
- SBF’s security incident at his parents’ house
Legal representatives for the victims of accused crypto fraudster Sam Bankman-Fried “SBF” are arguing that the defendant’s parents and brother should be subpoenaed to answer questions and provide accountings regarding their assets and any money they may have received from FTX, the bankrupt company , he established.
Lawyers want to bring in SBF’s parents for questioning
In an effort to find hidden assets that can be used to cover billions of dollars owed to creditors, the lawyers filed a motion with a court asking for permission to question under oath members of SBF’s family as well as a small number of the company’s former senior employees.
The court’s brief highlights the aggressive strategy FTX advisers are taking to reclaim money that Bankman-Fried may have improperly doled out.
Lobbying of elected officials and financial contributions to political campaigns were both significant aspects of the company’s activities.
Due to his involvement in the failure of FTX, which filed for bankruptcy in November 2022, federal prosecutors have charged Bankman-Fried with fraud in connection with the incident.
Based on the document filed in court, Joseph Bankman and his wife, Barbara Fried, were both active in the business that their son, SBF, owned.
The document added that Joseph Bankman, a law professor at Stanford Law School, provided FTX workers with tax advice and helped recruit the company’s first lawyers.
In line with the charges, Barbara Fried established a political action group that received support from FTX and its senior staff. Gabriel Bankman Fried, the brother, established an organization that lobbied members of the United States Congress from an estate worth several million dollars near the United States Capitol.
SBF’s security incident at his parents’ house
A judge was informed less than a week ago through a letter that SBF and his parents were the intended targets of genuine attempts to harm them.
A dark car reportedly crashed through the metal barrier outside their house. Three male passengers got out of the car.
The men, when approached by the security officer on duty, allegedly replied: “You won’t be able to keep us out.” Before the security officer could read the license plate, the guys jumped back into the vehicle and sped off.
To further elaborate on who was affected by the decline in SBF’s business, a list of creditors owed money by the defunct cryptocurrency exchange FTX was published.
A court filing by FTX on Wednesday detailed its extensive debts to multiple entities, including the media, airlines, nonprofits, educational institutions, cryptocurrency trading platforms and even the government.
This includes Coinbase and Binance, two rival trading platforms, and major publications including the New York Times, Wall Street Journal and Fortune.
Netflix, the fitness startup Peloton and Stanford University are among the big companies and organizations now awaiting the return of cash from the defunct company FTX.
