Global fintech and funding innovation ecosystem

Sam Bankman-Fried’s Parents Face Civil Charges

Crypto | Nov 15, 2023

Unsplash Freepik scales of justice - Sam Bankman-Fried's Parents Face Civil Charges

Image: Unsplash/Freepik

Joseph Bankman and Barbara Fried are facing civil charges related to the collapse of their son's crypto empire, FTX.

In the aftermath of Sam Bankman-Fried's (SBF) downfall in the cryptocurrency industry, the focus has shifted to his parents, Joseph Bankman and Barbara Fried. Known for their academic contributions at Stanford Law, they now find themselves embroiled in their own legal drama linked to their son's financial misadventures.

Accused of benefiting from their son's empire, they allegedly received a cash gift amounting to $10 million and purchased a Bahamian property valued at $16.4 million for them. This property has become a subject of legal contention, with FTX investors and customers filing a lawsuit to reclaim it, as stated in the legal documents.

See:  SBF’s Trial: Insight into Chaos & Mismanagement

While not criminally charged, the civil allegations against Bankman and Fried carry serious implications, both legally and reputationally.

According to the civil lawsuit, Fried, who is both an ethics expert and a co-founder of a Democratic fundraising group, counseled her son on how to obscure campaign contributions. This advice is part of a scheme that led to guilty pleas from two of his senior associates.

In a statement, attorneys representing Bankman and Fried have categorically denied the allegations in the civil lawsuit, declaring them as 'entirely untrue.' As of now, neither of them faces any criminal charges.

NCFA Jan 2018 resize - Sam Bankman-Fried's Parents Face Civil ChargesThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

Latest news - Sam Bankman-Fried's Parents Face Civil ChargesFF Logo 400 v3 - Sam Bankman-Fried's Parents Face Civil Chargescommunity social impact - Sam Bankman-Fried's Parents Face Civil Charges

Support NCFA by Following us on Twitter!

NCFA Sign up for our newsletter - Sam Bankman-Fried's Parents Face Civil Charges


Leave a Reply

Your email address will not be published. Required fields are marked *

17 − thirteen =