The allegation appeared in a lawsuit Bankman-Fried’s former company, FTX, filed against his parents, seeking to recoup money to pay owed debts.
Bankman-Fried’s father, a Stanford University law professor, “sat on the advisory board of Arabella Advisors,” according to the complaint.
The funds it manages, which include the New Venture Fund, Sixteen Thirty Fund, Windward Fund and Hopewell Fund, collectively raise over a Joseph Bankman, father of Sam Bankman-Fried, leaves court last month.“You can tell a lot about someone by the company they keep, so it’s truly not surprising to learn about the ties between the Arabella Advisors network and the Sam Bankman-Fried scandal,” Caitlin Sutherland, the executive director of Americans for Public Trust, told Fox News Digital.
“In early 2022, NVF issued grants from a project advised by Mr. Bankman and affiliated with the FTX Foundation, all of which went to carefully vetted charitable organizations addressing environmental challenges and hunger,” the fund’s spokesperson said. “This is a pending legal matter, and the remaining money will be returned based on resolution of that process.”
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