A deep dive into FTX's lawsuit against Sam Bankman-Fried's parents
The debtors-in-possession of the FTX estate have filed a lawsuit against Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, accusing them of a host of fraudulent behavior at the expense of the firm — sometimes even taking on leadership roles above their son. With this lawsuit, FTX debtors aim to recover funds lost due to fraudulent transfers, breaches of fiduciary duty, and unjust enrichment for the couple’s roles with the now-defunct crypto exchange. Sam Bankman-Fried, the former CEO of FTX and largest shareholder of Alameda Research, has previously said that his parents “weren’t involved in any of the relevant parts.” Debtors-in-possession contend that’s a lie. Bankman himself may have given them the ammunition to go after the pair as early as 2018, describing Alameda Research as a “family business.” Joseph Bankman allegedly held high-level role at FTX The suit alleges that Bankman-Fried’s father, a tenured profes...