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Breaking: SBF’s parents will be called to testify under oath

TL;DR

  1. FTX attorneys want SBF’s parents and brother subpoenaed to answer questions under oath and disclose financial documents about their wealth and FTX payments.
  2. The company’s advisers’ court filing emphasizes the firm stance they are taking to recover any funds that Bankman-Fried may have dispersed improperly.
  3. Among FTX’s long list of debtors are the New York Times, Stanford University, Coinbase, Apple, Binance and Netflix.

Legal representatives for the victims of accused crypto conman Sam Bankman-Fried “SBF” argue that the defendant’s parents and brother should be subpoenaed to answer questions and produce financial records regarding their wealth and any money they may have received from FTX, the bankrupt company he established.

Lawyers want to bring SBF’s parents in for questioning

In an effort to find hidden assets that may be used to satisfy the debts of billions of dollars owed to creditors, the attorneys submitted a request to a court requesting authorization to interrogate under oath members of SBF’s family as well as a small number of the company’s former senior employees.

The court brief highlights the aggressive strategy that FTX advisors are taking in order to reclaim any money that Bankman-Fried may have unlawfully distributed.

The lobbying of elected officials and financial contributions to political campaigns were both significant aspects of the company’s activities.

Because of his participation in the failure of FTX, which filed for bankruptcy in November 2022, federal prosecutors have accused Bankman-Fried of fraud in connection with the incident.

Based on the document filed in court, Joseph Bankman and his wife, Barbara Fried, were both active in the business that their son, SBF, owned.

The document added that Joseph Bankman, a law professor at Stanford Law School, provided FTX workers with tax advice and assisted in the recruitment of the company’s initial attorneys.

In line with the accusations, Barbara Fried established a political action group that received funding from FTX and its senior executives. Gabriel Bankman Fried, the brother, established an organization that lobbied members of the United States Congress from a property that was worth several millions of dollars close to the United States Capitol.

SBF’s security incident at his parents’ house

A judge was informed less than a week ago through a letter that SBF and his parents were the intended targets of genuine attempts to harm them.

A dark automobile reportedly crashed through the metal barrier outside their house. Three male passengers alighted from the automobile.

The men, upon being approached by the on-duty security officer, reportedly replied, “You won’t be able to keep us out.” Before the security officer could read the license plate, the guys jumped back into the vehicle and sped off.

To further flesh out who was affected by the fall of SBF’s enterprise, a list of creditors owed money by the defunct cryptocurrency exchange FTX was been made public.

A court petition from FTX on Wednesday detailed its extensive debt to several entities, including media outlets, airlines, nonprofits, educational institutions, cryptocurrency trading platforms, and even the government.

This includes Coinbase and Binance, two rival trading platforms, and major publications including the New York Times, Wall Street Journal, and Fortune.

Netflix, the fitness startup Peloton, and Stanford University are among the large businesses and organizations that are now awaiting the return of cash from the defunct company FTX.

Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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Jai Hamid

Jai Hamid is a passionate writer with a keen interest in blockchain technology, the global economy, and literature. She dedicates most of her time to exploring the transformative potential of crypto and the dynamics of worldwide economic trends.

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