Sam Bankman-Fried is reportedly paying his lawyers with a 'multi-million dollar gift' to his dad through Alameda
, citing anonymous sources. Bankman-Fried had started Alameda in 2017 and was its CEO until October 2021, according to court filings by federal prosecutors in New York.
Bankman-Fried also apparently rejected personal finance advice from his father, who had reportedly"begged his son to put away savings," according to Forbes. A representative for Bankman-Fried declined to comment. A representative for Mr. Bankman-Fried's parents, Joseph Bankman and Barbara Fried, did not respond to Insider's emailed request for comment ahead of publication. Attorneys and representatives for FTX did not immediately respond to Insider's request for comment.
Bankman and Fried have faculty bios listed on the Stanford Law School website, though no courses are currently listed for them. Federal prosecutors have charged that Bankman-Fried used"billions of dollars" in company funds to"enrich himself," among other things. In an updated indictment unsealed on Tuesday, they also accused Bankman-Fried ofA hearing over the updated indictment has been scheduled for March 30 in New York federal court before US District Judge Lewis Kaplan.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sam Bankman-Fried's Lawyers, Prosecutors Agree on Proposed Bail ConditionsLawyers for SBF_FTX have agreed on bail conditions for the founder of crypto exchange FTX_Official with U.S. prosecutors. By JamieCrawleyCD
Read more »
Sam Bankman-Fried, prosecutors reach new bail agreementLawyers for Sam Bankman-Fried said they reached an agreement with U.S. prosecutors on Monday on revised bail conditions, after a judge raised the prospect of sending the indicted FTX cryptocurrency exchange founder to jail pending trial.
Read more »
Sam Bankman-Fried can use cell phone without internet as part of new bail conditionsAttorneys for the FTX founder and federal prosecutors reached an agreement on revised bail conditions.
Read more »
Prosecutors add bribery to list of charges against FTX founder Sam Bankman-Fried | CNN BusinessFederal prosecutors tacked on a 13th criminal charge against Sam Bankman-Fried, accusing the FTX co-founder of bribery in addition to multiple counts of fraud and conspiracy.
Read more »
Sam Bankman-Fried Faces New U.S. Indictment Over Chinese Bribery ChargeJUST IN: U.S. prosecutors have unveiled a new indictment against SBF_FTX, charging him with bribing Chinese government officials. nikhileshde reports
Read more »
Sam Bankman-Fried charged with bribing Chinese officials: Court docsSBF is in hot waters once again! The former FTX CEO is facing a new 13-count indictment from authorities in the United States.
Read more »