My bet is that because Sam Bankman-Fried spread so much money
on Democrats in government, they will not be prosecuted
for their role in fraud.

from
https://www.dailymail.co.uk/news/article-13252979/sam-bankman-fried-parents-ftx-criminal-charges-crypto-sentenced.html

Will Sam Bankman-Fried's parents who earned $200K and bought $16.4M
Bahamas home with cash from FTX scam face criminal charges after shamed
crypto boss was sentenced to 25 years?
Joseph Bankman and Barbara Fried snagged a $16.4 million luxury home
almost certainly bought with FTX customer funds but have not been charged
The two Stanford faculty members were present for SBF's sentencing
Bankman and Fried have denied any wrongdoing relating to FTX or Alameda
By JAMES CIRRONE FOR DAILYMAIL.COM

PUBLISHED: 15:56 EDT, 29 March 2024 | UPDATED: 15:59 EDT, 29 March 2024

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Now that Sam Bankman-Fried has been sentenced to 25 years in prison for
stealing $8 billion of his own customers' money, his parents are once
again coming under scrutiny for their level of involvement in the FTX scam.

Joseph Bankman and Barbara Fried have not been charged with any crime
relating to FTX, Alameda Research, or their son's criminal conduct.

A lack of criminal charges aside, Bankman-Fried's parents, who said they
were 'heartbroken' over their son's sentence, benefitted by being
related to the then-CEO of FTX.

Thanks to Bankman-Fried's kindness with FTX customer funds, his parents,
both Stanford Law faculty members, received a $16.4 million luxury home
located in the Bahamas as well as a $10 million cash gift.

Even more details of just how involved the crypto fraudster's parents
were in the inner workings of FTX came out in a lawsuit filed by Alameda
Research and the FTX debtors in September 2023.

Joseph Bankman and Barbara Fried haven't been charged with any crime
relating to FTX, Alameda Research, or their son's criminal conduct
+5
View gallery
Joseph Bankman and Barbara Fried haven't been charged with any crime
relating to FTX, Alameda Research, or their son's criminal conduct

Sam Bankman-Fried was jailed for fraud
+5
View gallery
Sam Bankman-Fried was jailed for fraud

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DailyMail.com reached out to the Southern District of New York, the
office that prosecuted Bankman-Fried, to ask if it plans to pursue
charges against his parents. It declined to comment.

Days after Bankman-Fried was convicted of on all counts of fraud and
conspiracy in November 2023, a variety of legal experts told the
Washington Post that prosecutors have 'wide latitude' when it comes to
who they decide to charge.

'The closer a person is to the main defendant, the more likely that a
judge or jury would find there was a meeting of the minds on intent,' a
former federal prosecutor told the Washington Post.

Bankman was employed as a manager and as a tax law expert at Alameda,
FTX Trading, and FTX US, according to an amended complaint filed on
March 15.

As an employee of FTX US, Bankman was given a yearly salary of $200,000
with the 'possibility of a discretionary bonus,' according to the
complaint.

That apparently wasn't enough for him, according to the suit, which
claims Bankman said in January 2022 he thought he was supposed to be
getting $1 million a year.

'Gee, Sam I don’t know what to say here. This is the first [I] have
heard of the 200K a year salary! Putting Barbara on this,' Bankman
allegedly emailed his son.

Many other benefits were bestowed to Bankman, according to the suit. He
flew on private jets, expensed $1,200 per night hotel stays to the FTX
group and even won a cameo in the FTX Super Bowl 2022 commercial
starring 'Curb Your Enthusiasm' creator Larry David.

Joseph Bankman and Barbara Fried are seen on the balcony of this son's
penthouse apartment at the Orchid in the Bahamas
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View gallery
Joseph Bankman and Barbara Fried are seen on the balcony of this son's
penthouse apartment at the Orchid in the Bahamas

Joseph Bankman seen talking on the phone on the same Orchid penthouse
balcony
+5
View gallery
Joseph Bankman seen talking on the phone on the same Orchid penthouse
balcony

Bankman-Fried's parents owned a $16.4 million home in the Bahamas
located in Old Fort Bay, a private gated community
+5
View gallery
Bankman-Fried's parents owned a $16.4 million home in the Bahamas
located in Old Fort Bay, a private gated community

The suit also claims that Bankman 'had broad authority to make decisions
for each entity and the FTX Group at large, and advised the FTX Group
and associated entities with regard to both business and legal affairs.'

Bankman allegedly wielded his 'broad authority' at his son's menagerie
of companies to direct more than $5.5 million in FTX Group donations to
Stanford University.

When the lawsuit became public in September, Stanford acknowledged that
it had received gifts from the FTX Foundation and FTX-related companies
'largely for pandemic-related prevention and research,' crypto news
outlet Blockworks reported at the time.

'We have been in discussions with attorneys for the FTX debtors to
recover these gifts and we will be returning the funds in their
entirety,' Stanford told Blockworks.

The plaintiffs also alleged that Bankman-Fried's mother Barbara was also
intimately involved in FTX, calling herself her son's 'partner in crime
of the noncriminal sort,' the suit said.

Stanford law professor Barbara Fried is Sam Bankman-Fried's mother
Stanford law professor Joseph Bankman is Sam Bankman-Fried's father
Sam Bankman-Fried's parents, law professors Barbara Frieds and Joseph
Bankman, said they had been trying to return the property to FTX since
before the company entered bankruptcy

While she didn't appear to have an official title at any of her son's
companies, the respondents described her as 'the single most influential
advisor regarding Bankman-Fried’s and the FTX Group’s political
contributions.'

To that end, the suit argued she repeatedly called on then-FTX head of
engineering Nishad Singh to donate millions of dollars to Mind the Gap,
a pro-Democrat political action committee she co-founded.

If this is true, Singh must have eventually relented because he did in
fact personally donate $1 million to Mind the Gap in April 2021,
according to OpenSecrets.

Bankman-Fried's parents tried to dismiss the lawsuit in January 2024,
their lawyers arguing that Bankman 'never served as a director, officer,
or manager, de facto or otherwise.'

Their legal team also claimed the plaintiffs failed to plausibly
establish that either parent had a fiduciary duty to FTX or Alameda.

FTX Trading
Sam Bankman-Fried
Crime
Read more:
https://www.opensecrets.org/political-action-committees-pacs/mind-the-gap/C00683649/donors/2022
www.washingtonpo...
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earned $200K and bought $16.4M Bahamas home with cash from FTX scam face
criminal charges after shamed crypto boss was sentenced to 25 years?
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