This is What FTX Estate Reveals
In December 2022, soon after the FTX exchange went bankrupt, Sam Bankman-Fried acknowledged to the New York Times that his parents were not involved in any of the relevant parts of the business.
But in a lawsuit filed Monday, he sought to distance himself publicly from those donations.
The estate claims that FTX was a family business and that Bankman and his parents extorted millions of dollars from the crypto empire.
In November 2021, Bankman allegedly directed FTX employees to transfer $500,000 in donations to Stanford by using funds from another entity, Paper Bird, controlled by his son Sam.
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