Sam Bankman-Fried’s parents seeking dismissal of FTX lawsuit
Sam Bankman-Fried’s parents have filed a motion to dismiss FTX’s lawsuit , denying involvement in the exchange’s downfall. Months after the dramatic implosion of crypto exchange FTX, Joseph Bankman and Barbara Fried are embroiled in a legal battle, facing accusations of complicity in their son’s alleged financial misdeeds. In September 2023, FTX, now under new management, initiated a lawsuit against the FTX founder’s parents , alleging their involvement in widespread financial misconduct at the company. Central to FTX’s claim is the pursuit of millions of dollars they allege were misappropriated by the couple, including a $10 million gift to Joseph Bankman. However, the defense mounted by Bankman and Fried’s legal team has labeled the lawsuit as “threadbare,” basing their argument on the fact that their involvement is assumed purely because of their relation to their son. The primary defense hinges on the assertion that neither had official roles wi...