New FTX CEO Told Members of Congress SBF’s Family ‘Certainly Received Payments’ From the Business

According to aggregate reports, FTX co-founder Sam Bankman-Fried’s parents look scrutiny implicit their reported engagement with their son’s concern operations. The 2 Stanford professors Joseph Bankman and Barbara Fried person not been charged with immoderate wrongdoing, but the existent FTX CEO, John J. Ray III, precocious told members of the U.S. Congress that Joseph Bankman and “the household surely received payments” from FTX.

SBF’s Ethics-Obsessed Parents Face Scrutiny Over Their Alleged Ties With FTX Operations

On Saturday, a study from Reuters elaborate that the FTX co-founder Sam Bankman-Fried (SBF) volition apt surrender to a U.S. extradition request, aft it was initially reported that SBF would combat extradition to the United States. Reports item that SBF’s parents, who are reportedly successful The Bahamas supporting their son, face scrutiny implicit however progressive they were with FTX operations.

SBF’s parents Barbara Fried (pictured left) and Joseph Bankman (pictured right) are 2 instrumentality schoolhouse professors astatine Stanford University.

While speaking successful beforehand of the U.S. Congress astir the FTX collapse, the existent FTX CEO, John J. Ray III, was asked astir SBF’s parents and whether oregon not Joseph Bankman was an employee. “He received payments,” the caller CEO and FTX restructuring main said. “The household surely received payments.”

The caller FTX CEO John J. Ray III (pictured left) testified successful beforehand of Congress and noted that SBF’s household “certainly received payments” from FTX.

The FTX CEO’s statements successful beforehand of Congress travel the report that alleged $121 cardinal successful Bahamian existent property was associated with SBF’s parents and FTX. One peculiar location was a $16.4 cardinal house purchased successful SBF’s parents’ name, but SBF elaborate “it was intended to beryllium the company’s property. I don’t cognize however that was papered in.” SBF’s parents’ spokesperson said:

[The couple] ne'er intended to and ne'er believed they had immoderate beneficial oregon economical ownership of the house.

Fried and Bankman some thatch instrumentality classes astatine Stanford University, and the quality work Puck precocious published an article that says SBF’s parents were obsessed with ethics. SBF, himself, told the New York Times (NYT) that his parents “bore nary responsibility” for his affairs. Bankman had scheduled instrumentality classes to thatch this period and helium precocious canceled his classes, portion Fried precocious resigned from ace governmental enactment committee (PAC) Mind The Gap, a PAC she helped co-found successful 2018.

According to the Wall Street Journal authors Justin Baer and Hardika Singh, a spokesperson for the household explained that Bankman was paid by FTX for astatine slightest a twelvemonth arsenic helium was moving connected charitable projects for the now-defunct crypto exchange. It has besides been said that Bankman advised SBF earlier helium spoke successful beforehand of the House Financial Services Committee connected Dec. 8, 2021.

Reports besides enactment that Bankman advised SBF connected ineligible matters anterior to the Chapter 11 bankruptcy filing and his resignation. While it is presently chartless if SBF’s parents had been much progressive with SBF’s concern affairs, the household faces important ineligible bills from the white-collar lawyer SBF hired.

What bash you deliberation astir the reports that accidental SBF’s parents look scrutiny implicit their alleged engagement with their son’s firm? Let america cognize what you deliberation astir this taxable successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photograph credit: Nathan Howard/ Getty Images

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