Our Son’s Role in FTX Doesn’t Make Us Guilty: SBF’s Parents Voice Out
SBF’s Parent Request Dismissal of their Lawsuit, Denying Involvement in any Fraud or Bad Management
The parents of the former FTX CEO (Sam Bankman-Fried) have claimed that they are not a part of any fraud or bad management that happened in FTX, Their son’s role in the company doesn't make them liable, their lawyer argued
The lawyer further argued that SBF’s parents never held executive roles at FTX or Alameda Research, reminding them that the lawsuit only mentions limited interactions with the companies.
In September 2023, SBF's parents were accused of misusing funds for personal gains, this included claims that they bought a $16.4 million property in the Bahamas, a claim which SBF’s parents denied saying they didn’t live there primarily. The attorney responded in their defense by saying that most of FTX and Alameda properties were located in the Bahamas, FTX team and employees lived and worked in the referenced property.
The lawsuit also claims they directed large donations for personal benefit. This includes contributions to Stanford University. The parents' lawyers say there's no proof they gained from these donations.
