How Involved Were Sam Bankman Fried's Parents in FTX Collapse

A new lawsuit filed against SBF's parents demands an explanation for more than $26 million in cash and luxurious properties that they "fraudulently transferred and misappropriated," as well as the fact that they both acted as middlemen between SBF and the investors, employees, and politicians. Even their employer at Stanford University, received over $5.5 million in gifts from the FTX Foundation and FTX-related companies channeled mainly by Bankman and Fried.

The lawsuit claims that Mr. Bankman helped arrange hundreds of millions of dollars in loans to top employees and was listed on an internal document as a member of the firm’s management team. In messages stated in the lawsuit, Mr. Bankman complained that he was receiving a salary of only $200,000 a year, as opposed to the $1 million he thought he would get

The lawsuit claimed that even though Ms. Fried never worked for FTX, she was actively involved in her son's career. She encouraged him and other executives to make "straw donations" that covered up the fact that the funds came from FTX, as claimed in the complaint, in order to "avoid federal campaign finance disclosure rules."

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