Barbara Fried allegedly asked FTX employees to place orders for items such as a sofa, eight vases and a Persian rug valued at $2,500. Photo: EDUARDO MUNOZ/REUTERS
The parents of disgraced cryptocurrency entrepreneur Sam Bankman-Fried have been accused of siphoning millions of dollars in «misappropriated funds» from FTX.
Claims have been filed against Joseph Bankman and Barbara Fried process. administrators of FTX as the cryptocurrency company tries to recoup money they allegedly received before its collapse.
FTX claims the pair «used their access and influence» in the business to «enrich themselves.» , as they enjoyed privileges such as luxury hotel stays and use of private jets.
They are seeking $18.9 million (£15.2 million) from Mr Bankman, a law professor at Stanford University. allegedly used to pay for a beach house in the Bahamas.
He is said to have become «deeply involved» with FTX after its launch in 2021.
The professor allegedly received «millions of dollars in unearned 'gifts' and real estate, flew on private charter planes, paid the expenses of $1,200 per night hotel stays at the FTX Group and even starred in Super Bowl commercials.»
Joseph Bankman, a Stanford University law professor, is accused of spending $18.9 million on a beach house in the Bahamas. Photo: EDUARDO MUNOZ/REUTERS
As for the $18.9 million beach house called «Blue Water,» FTX's lawyers claim it charged the company for luxury furnishings.
Ms. Fried allegedly asked FTX employees to place orders for items including a sofa, eight vases and a handmade Persian rug for $2,500.
At one point, Mr. Bankman is said to have emailed email to senior FTX executive: “We hope you can all come out and celebrate the home you helped us buy/move.”
Bankruptcy administrators at Kroll are also seeking to recover a $10 million “gift” made to the parents, as well as Mr. Bankman's $200,000 salary at FTX and $5.5 million in donations made to Stanford University.
The couple also supported FTX. make donations to organizations and political causes they support, according to court documents.
Sam Bankman-Fried to face charges in fraud in October Photo: Bebeto Matthews/AP
FTX collapsed last year after a multibillion-dollar black hole was discovered in its accounts.
U.S. prosecutors accused its founder, Sam Bankman-Fried, of misusing client funds to fuel risky trading activity on the exchange. The cryptocurrency hedge fund he owned resulted in huge losses.
The collapse and liquidation of the company became emblematic of the cryptocurrency bubble that burst towards the end of the Covid-19 pandemic.
Estimates are approx. 80,000 Britons are left destitute after Bahamas-based company FTX collapses.
He denies wrongdoing and his trial on fraud charges will begin in October.
Coindesk was first to report the lawsuits. Bankman has been contacted for comment.
Sean Hecker, Joe Bankman's lawyer, and Michael Tremonte, Barbara Fried's lawyer, said FTX's lawsuit against their clients was a «dangerous attempt» to intimidate them «just days before» » the trial of their child begins.”
They said, “These allegations are completely false.”
Свежие комментарии