Crypto Exchange FTX’s estate has settled a lawsuit against the parents of founder Sam Bankman-Fried (SBF), according to a filing in the Delaware District Bankruptcy Court.
The lawsuit has been dismissed without prejudice, according to documents originally filed in February and appear to have been largely overlooked.
Allan Bankman and Barbara Fried have joined in key aspects of the FTX business and its associated hedge funds, Alameda Research, which misused funds from FTX clients. For years, the ultimate negligence in the crime-related actions of Bankman and Freed’s son remained unknown.
Today, SBF is in prison and is sentenced to 25 years in prison. Nevertheless, his parents remain free civilians. The US government has never publicly filed a crime against its parents.
FTX to SBF parents million dollar payments
When John J. Ray III took over in November 2022 to clean up the FTX collapse, forensic analysis discovered literal figurative fingerprints from SBF parents across the business. It also revealed that millions of dollars worth of cash and real estate will flow to these families.
Alan worked as a fundraiser, part-time employee and an advisor to Crypto Trading Giant, while Barbara is said to have enjoyed FTX cash and real estate payments.
Read more: Diddy joins SBF Abraham Eisenberg at ‘Horrible’ Brooklyn Prison
According to the submission, FTX resolved the complaints against SBF’s parents “without bias.” This legal warning means that FTX is not currently planning to pursue litigation, but reserves the right to redesign the complaints in the future.
Specifically, settlements and related communications related to settlements marked “unbidden” are generally not recognized in court as evidence. For this protection to be applied, communication must be part of a real attempt to resolve a dispute.
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