FTX sues SBF parents to recover misappropriated funds

Bankrupt cryptocurrency exchange FTX has sued Joseph Bankman and Barbara Fried, the parents of founder and former CEO Sam Bankman-Fried, seeking to recover millions of dollars in fraudulent claims, ​​a court filing said on Monday. transfer and misappropriation of funds”. Court documents state: “FTX Trading paid $18,914,327.82 for Blue Water, for which Bankman and Fried obtained title, including taxes, fees and costs, and various charges related to Blue Water, totaling more than $90,000. Bankman’s knowledge of tax laws and His unique understanding of the FTX Group’s chaotic corporate structure allowed him to facilitate the transfer of cash gifts totaling $10 million consisting of Alameda Ltd. funds to himself and Fried.” (CoinDesk)