In a recent court filing, lawyers for FTX have requested that Sam Bankman-Fried’s (SBF) family including his parents and brother should be made to answer questions about the wealth that they own personally as well as any wealth that they might have acquired from FTX. The lawyers want to question both the family of the former founder of the crypto firm who is accused of fraud by federal prosecutors as well as senior executives including Gary Wang and Caroline Ellison.
Bloomberg reported that the court filing showed that FTX advisers are aggressively pursuing what might be termed as hidden assets as these could be used to pay back creditors the billions of dollars that are owed to them, after the collapse of FTX. The crypto exchange had also lobbied elected officials and made donations to their campaigns when SBF was the CEO.
The court filing says that SBF’s parents, Joseph, and Barbara Fried who are professors at Stanford University, could have been involved in the company’s affairs when their son was the CEO. It declares that Joseph Bankman gave tax advice to FTX employees. He also helped the company recruit its first lawyers.
The filing also says that Barbara Fried allegedly received money from FTX for a political action committee that was founded by her. SBF’s brother Gabriel Bankman founded a lobbying firm called Guarding Against Pandemics. He used a multimillion-dollar property near the Capitol, in Washington D.C., to lobby US Congresspersons.
The filing also wants top former executives including Sam-Bankman, co-founder Gary Wang and chief executive of Alameda Research Caroline Ellison to be subpoenaed by the court. These former FTX executives were also not cooperating as they did not provide the information that was requested.
FTX lawyers require approval from US Bankruptcy Judge John Dorsey. A hearing is scheduled for Feb. 8, at the US bankruptcy court in Delaware. If it is approved, subpoenas requesting family members and former executives to be available for questioning as well as to provide documents, can be sent.
None of the parties concerned, such as SBF, his parents and brother and the former executives have responded when asked for comment.
Celebrity News Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Slim Tea, Vitamins and Herbs. Become a WebFans Creator and Influencer
FTX and Alameda File Request to Freeze $450 Million in Robinhood Stock in New York Court
