Sam Bankman’s father hired a lawyer for his son
2023.01.12 16:24
Sam Bankman’s father hired a lawyer for his son
By Tiffany Smith
Budrigannews.com – As the criminal case against his son progresses, Joseph Bankman, the father of former FTX chief executive officer Sam Bankman-Fried, is said to have hired an attorney.
Reuters reported on January 12 that Bankman hired Sean Hecker of the law firm Kaplan Hecker & Fink LLP in New York. According to reports, Bankman-Fried’s father helped and advised his son when it came to lobbying lawmakers in Washington, D.C., and it’s possible that he is now working with the prosecutors behind SBF’s case.
At the time of publication, it was not clear if Bankman had provided authorities with any information or if he had any criminal or civil liability for the collapse of FTX. Bankman-Fried entered a plea of not guilty on January 3 to every criminal charge he is facing in connection with FTX’s fraud allegations. Caroline Ellison, the former CEO of Alameda Research, and Gary Wang, a co-founder of FTX, have already admitted to similar offenses.
With the equity in their home, Bankman and his wife Barbara Fried helped secure his son’s bail in December. Since then, Bankman-Fried has largely remained confined to the same Palo Alto residence, with the exception of attending New York-based legal proceedings. Fried and Bankman are both Stanford Law School professors.
Heh, whoops, that was unintentional; good catch; I believe there ought to no longer be a payment option…
On January 12, Bankman-Fried released a rare public statement detailing his account of the events that led to FTX’s insolvency in a “pre-mortem overview.” “I didn’t steal funds, and I certainly didn’t stash billions away,” the former CEO largely denied the allegations against him, instead placing some of the blame on the crypto market crash and Binance CEO Changpeng Zhao.
The criminal trial against Bankman-Fried is scheduled to begin in October.
