FTX sues Sam Bankman-Fried's parents, aims to claw back some of the $26 million in gifts and property
CNBC 2023-09-19 16:04:23 • 5 mins
Key Points
- Bankrupt crypto exchange FTX is looking to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from the parents of Sam Bankman-Fried, the exchange's disgraced ex-CEO and founder.
- In a Monday court filing, lawyers representing the bankruptcy estate of the failed exchange alleged that Allan Joseph Bankman and his wife, Barbara Fried, "exploited their access and influence within the FTX enterprise to enrich themselves, directly and indirectly, by millions of dollars."
- The lawsuit goes on to claim that Bankman and Fried discussed with their son the transfer of a $10 million cash gift and a $16.4 million luxury property in The Bahamas.
Barbara Fried, mother of Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, leaves the courthouse, after U.S judge revoked Bankman-Fried's bail, in New York, August 11, 2023.
Eduardo Munoz | Reuters
Bankrupt crypto exchange FTX is looking to claw back luxury property and "millions of dollars in fraudulently transferred and misappropriated funds" from the parents of Sam Bankman-Fried, the exchange's disgraced ex-CEO and founder.
