Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»HACKING NEWS»FTX sues parents of founder Bankman-Fried
HACKING NEWS

FTX sues parents of founder Bankman-Fried

By Crypto FlexsNovember 27, 20232 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
FTX sues parents of founder Bankman-Fried
Share
Facebook Twitter LinkedIn Pinterest Email
  • FTX sued Sam Bankman-Fried’s parents.
  • Founder and former CEO Sam Bankman-Fried fraudulently gifted millions of dollars to his parents, according to the collapsed cryptocurrency exchange’s bankruptcy estate.
  • FTX seeks to recover $10 million in cash gifts and $16.4 million in property in the Bahamas.

Bankrupt cryptocurrency exchange FTX has sued Allan Joseph Bankman and Barbara Fried, the parents of former FTX CEO Sam Bankman-Fried.

According to details filed in court, FTX aims to recover millions of dollars fraudulently gifted to Bankman-Fried’s parents by the collapsed cryptocurrency exchange.

FTX aims to recover $26.4 million.

According to the FTX bankruptcy estate, SBF’s parents used their influence within the company to obtain a $10 million cash gift and $16.4 million in luxury real estate located in the Bahamas. These transactions occurred even though the parties involved were aware of the possible insolvency of the cryptocurrency exchange.

FTX said in a filing with the U.S. Bankruptcy Court for the District of Delaware that it wants to recover the misappropriated funds. The exchange’s complaint also includes email exchanges between Bankman and FTX US over the $200,000 annual salary payment. According to a former Stanford University professor, his annual salary was ‘estimated’ at $1 million.

In part of the email cited by CNBC, Bankman told his son:Geez, Sam I don’t know what to say here. This is my first time hearing an annual salary of 200,000! Put Barbara here..”

Conor Grogan, Head of Product at Coinbase, emphasized X:

SBF’s father didn’t like the pay at FTX US, so he sent an email to SBF asking for more money, and pulled out the phrase “I’m talking to my mom” and connected SBF’s mom to the email thread. pic.twitter.com/jJaHFqpI7Z

— Connor (@jconorgrogan) September 19, 2023

Following this exchange, $10 million was taken from Alameda and $16.4 million worth of assets were gifted to the former FTX CEO’s parents.

Bankman-Fried faces a criminal trial scheduled to begin Oct. 3 and was recently sent to prison after federal prosecutors detained him on witness tampering charges. The disgraced FTX founder is facing multiple charges of wire transfer and securities fraud.


Share this article

category

tag

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Safe smart account audit summary

June 27, 2025

Encryption Inheritance Update: June 2025

June 25, 2025

HyperLend Protocol Thanksgiving Summary -Ackee Blockchain

June 21, 2025
Add A Comment

Comments are closed.

Recent Posts

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Earns $9,800 Per Day With BTC Breaks Through $107,000, GoldenMining Global Market.

June 27, 2025

Why Bakkt Holdings can buy Bitcoin with a $ 1 billion increase

June 27, 2025

NVIDIA RTX strengthens FITY’s AI -centered innovation in Cooler Design.

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025
Most Popular

NOT was the biggest gainer of the week, surging 152%, but with time running out, traders flocked to this Dogecoin derivative.

May 31, 2024

The tethers invests in ZENGO wallet to improve the adoption of Stablecoin.

February 15, 2025

What is Phantom Wallet?

July 12, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.