Sam Bankman-Fried’s Father Comes Under The Microscope

October 12, 2023 12:49 pm Comments

Since the outset of the FTX scandal, Sam Bankman-Fried’s parents have been one of the focal points.

The two academics have been revealed as active donors to the Democrat Party and other left-wing causes, with SBF’s mother, Barbara Fried, even co-founding a PAC known as “Mind the Gap.”

Sam Bankman-Fried’s parents have once again come under the microscope due to recent testimony from his former girlfriend Caroline Ellison. Fox Business provided some background information:

Bankman-Fried’s parents, Barbara Fried and Joseph Bankman are law professors at Stanford University and are expected to play a critical role in the trial.

Last month, FTX sued the duo alleging they, in advisory roles at the exchange, “fraudulently transferred and misappropriated” millions of dollars.

Some of the funds were directed to a political action committee connected to Fried. Additionally, the parents received a deed to a Bahamas property.

Toward the conclusion of Ellison’s testimony, prosecutors presented a group chat involving former high-level FTX executives discussing how the company could best misrepresent assets to cover withdrawals.

According to sources, Joseph Bankman, the father of SBF, was in that group thread—implicating him in the scandal.

One prominent member of the crypto community outlined the role Bankman-Fried’s parents allegedly played in the shifting of FTX funds:

Protos revealed:

Another seeming revelation was not highlighted by prosecutors: evidence that seemed to even more deeply implicate Joseph Bankman, Sam’s father.

Towards the end of her testimony, Ellison was guided to comment on screenshots of a group chat called “small group chat.”

In that chat, on around November 8, as everything unraveled, FTX senior management explicitly discussed whether, and in what ways, to lie about how much money FTX actually had to cover withdrawals.

Attendees who looked closely could see the recipients of those messages: Sam Bankman-Fried, Caroline Ellison, Nishad Singh, Ramnik Arora, Gary Wang — and Joseph Bankman.

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