Legal representatives for the victims of accused crypto conman Sam Bankman-Fried “SBF” argue that the defendant’s parents and brother should be subpoenaed to answer questions and produce financial records regarding their wealth and any money they may have received from FTX, the bankrupt company he established.
Lawyers want to bring SBF’s parents in for questioning
In an effort to find hidden assets that may be used to satisfy the debts of billions of dollars owed to creditors, the attorneys submitted a request to a court requesting authorization to interrogate under oath members of SBF’s family as well as a small number of the company’s former senior employees.
The court brief highlights the aggressive strategy that FTX advisors are taking in order to reclaim any money that Bankman-Fried may have unlawfully distributed.
The lobbying of elected officials and financial contributions to political campaigns were both significant aspects of the company’s activities.
Because of his participation in the failure of FTX, which filed for bankruptcy in November 2022, federal prosecutors have accused Bankman-Fried of fraud in connection with the incident.
Based on the document filed in court, Joseph Bankman and his wife, Barbara Fried, were both active in the business that their son, SBF, owned.
The document added that Joseph Bankman, a law professor at Stanford Law School, provided FTX workers with tax advice and assisted in the recruitment of the company’s initial attorneys.
In line with the accusations, Barbara Fried established a political action group that received funding from FTX and its senior executives. Gabriel Bankman Fried, the brother, established an organization that lobbied members of the United States Congress from a property that was worth several millions of dollars close to the United States Capitol.