Barbara Fried, mother of FTX founder Sam Bankman-Fried, arrives at court in New York. / PHOTO: AP ( Molly Bruns , Headline USA ) Recent reports revealed Sam Bankman–Fried’s parents attempted to run FTX as a family business, and often took funds from the company to pay for their exorbitant lifestyle.
Bankman–Fried, owner and orchestrater of the FTX crypto fraud scheme, included his parents in the hustle. In turn, they “exploited their access and influence within the FTX enterprise to enrich themselves,” according to Slate.
Investigators caught Joseph Bankman and Barbara Fried knowingly defrauding FTX customers via their connection, leading to a lawsuit which may not allow for the recovery of the funds.
Bankman’s involvement in the business was heavy, taking care of just about everything—with the exception of actual trading and minting of coins. He directed payments through the company, handpicked nonprofits and organizations to receive donations and approved large, luxurious […]
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