Like all good parent, Sam Bankman-Fried’s mother and father strongly supported their son from the beginning of his crypto profession until his fall from grace, but their staunch support and recent courtroom antics have put them under tight scrutiny.
Joseph Bankman and Barbara Fried, each professors at Stanford University, sat within the third row of the Bankman-Fried extradition hearing within the Bahamas, where their animated expressions were on full display.
The banker, who received payments from FTX and was heavily involved within the operations of the doomed platform, intermittently covered his ears throughout the method, while Fried laughed several times.
FTX’s recent CEO John Ray has revealed that he will probably be investigating Bankman and Fried’s role of their son’s alleged cryptocurrency scam at the corporate, particularly after confirming that Bankman had given “legal advice” to Bankman-Fried and that the family had received money payments.
Profession
Each Bankman and Fried teach law at Stanford University, where their alleged involvement of their son’s FTX programs has turn out to be “the topic of gossip” amongst colleagues, the Latest York Times reported.
![FTX founder Sam Bankman-Fried (second left) is handcuffed by officers from the Royal Bahamas Police Force in Nassau, Bahamas, December 13, 2022.](https://nypost.com/wp-content/uploads/sites/2/2022/12/sbf-parents-03.jpg?w=1024)
In keeping with his faculty biography, Bankman makes a speciality of tax law and is the writer of two books on the topic. Along with being a practicing lawyer, Bankman is a clinical psychologist and teaches mental health law.
Fried is a professor of law emeritus at Stanford University. Like her husband, she also wrote about tax policy, but her “scientific interests lie on the intersection of law, economics and philosophy” we read in her biography. She is a three-time award winner. John Bingham Hurlbut Award for distinguished teaching achievement.
Links with the Democrats
Bankman helped Massachusetts Senator Elizabeth Warren write failed laws to simplify the tax code in 2016. He then signed a letter of support for the bill with 53 other law professors.
![Joseph Bankman, father of FTX CEO Sam Bankman-Fried.](https://nypost.com/wp-content/uploads/sites/2/2022/12/ftx-parents-021.jpg?w=1024)
![Barbara Fried, mother of FTX CEO Sam Bankman-Fried.](https://nypost.com/wp-content/uploads/sites/2/2022/12/ftx-parents-022.jpg?w=1017)
Bankman also has a history of donating 1000’s of dollars to Democratic campaigns, including Warren’s.
Fried co-founded the superpolitical motion committee Mind The Gap in 2018, in response to the Latest York Times, though she resigned in November. The group uses statistical evaluation to find out the impact of donations on the worth of the dollar for Democrats running for the House of Representatives.
Fried has been closely linked to her son’s massive donations to Democrats ahead of the 2022 election, The knowledge was provided by Business Insider. Bankman-Fried was accused of using tens of hundreds of thousands of dollars in Alameda funds to illegally make political donations to “candidates and committees related to each Democrats and Republicans.” The White House has not said whether Biden will return the fraudulent money Bankman-Fried donated to his 2020 political campaign.
![Sam Bankman-Fried, the founder of FTX, appeared with his mother, Barbara Fried, in front of the Magistrate's Court in Nassau, Bahamas on Tuesday, December 13, 2022.](https://nypost.com/wp-content/uploads/sites/2/2022/12/sbf-parents-02.jpg?w=1024)
Roles in FTX
The bankman had been a paid worker of FTX for nearly a 12 months, a family spokesman said Wall Street Journalbut mainly worked on charity projects for the corporate.
Fried was not a paid worker of a cryptocurrency company.
Ray confirmed Tuesday that “payments have been received by the family.”
Moreover, Bankman-Fried purchased a $16.4 million home within the Bahamas for his parents on behalf of FTX. The posh beachfront property was intended for use as a “holiday home”, although Bankman-Fried later claimed he didn’t intend for his parents to make use of it for any length of time.
“It was speculated to be owned by the corporate. I do not understand how it was recorded,” he said.
The couple has been living within the Bahamas for a month with their son, reported the Wall Street Journal.