According to two sources close to FTX, Sam Bankman – Disgraced co-founder Freed gifted his father, Stanford law professor Joseph Bankman, millions of dollars. Bankman-Fried is said to have given his father “at least $10 million of his” from his now-defunct quant trading firm Alameda Research, sources said.
Sources claim that SBF’s legal defense was paid by Alameda Loot
After the indictment, Forbes said that funds tied to Alameda Research may have been paid for SBF’s legal defense. Forbes contributors Sarah Emerson and Steven Ehrlich explained that two anonymous sources revealed that the SBF transferred “at least $10 million from Alameda” to his father Joseph his bankman. . The duo have been accused of using “lifetime estate and gift tax exemptions” for funds allegedly given to Bankman in 2021.
The SBF has pleaded not guilty to the charges against him, and last year he publicly said he had only $100,000 in his bank account. According to a Forbes reporter, “How the former billionaire is able to put up his expensive defense remains a mystery until now.” It was revealed to be represented by a certain Mark Cohen. Cohen and his litigation firm, Cohen & Gresser, a convicted sex trafficker and Jeffrey Ghislaine, his Epstein best friend, who famously represented Maxwell. is.
These two sources told Forbes that in 2021 he made a large financial gift to his father, funded by a loan SBF obtained from Alameda Research. . Forbes reporters Emerson and Ehrlich noted that Cohen& Gresser “did not respond to requests for comment” and “Bankman-Fried declined to comment.” The reporter also said SBF’s father “did not answer a series of questions” sent to him.
The Forbes article follows federal prosecutors adding bribery charges to the SBF indictment, which the SBF has paid Chinese government officials to pay. accused of being In a new indictment, the former FTX CEO alleges he used his $40 million to influence “one or more Chinese government officials” in 2021. A bank fraud charge was added to his SBF indictment at the end of February prior to the latest indictment. 2023. Joseph Bankman has not been charged with any wrongdoing. However, his current CEO of FTX, John J. Ray III, told members of the U.S. Congress that Joseph Bankman and “his family did indeed receive payments from FTX.”
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