Joseph Bankman and Barbara Fried were always close to their son. A certain amount of interest in the well-being of their son and that of his business dealings is to be expected.
However, the FTX estate, now led by bankruptcy specialist CEO John J Ray III, argues that SBF’s parents – particularly his father – had a much bigger presence in the FTX Groups’ dealings than it appears on paper.
If the allegations can be proven true, benefits derived from FTX and its former CEO could be subjected to clawbacks, in particular, a $10 million cash gift to Joseph Bankman and a luxury property in the Bahamas.
Advisory Capacity, Or Something More?
Officially, Joseph Bankman, who is a tenured Stanford law professor, never received a salary or any legally binding payments from any FTX entity. Instead, he only served in an advisory capacity to certain FTX entities on a pro bono basis.
The lack of any documents indicating Joseph Bankman was paid for his work is crucial to his defense against the
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