Sam Bankman-Fried's Family Under Scrutiny: Court Filings Reveal Alarming Behavior
Recent court revelations surrounding Sam Bankman-Fried's family have exposed a web of deceit.
One such revelation concerned Samuel Bankman, Bankman-Fried's father, who has been using the $10 million gifted to him by his son, which was allegedly looted from FTX customers, to pay for his legal defense.
Moreover, it was revealed that he squandered at least a million of the funds on ill-advised cryptocurrency trades.
Another not-so-pleasant revelation involved Gabe Bankman-Fried, Sam's brother, who was deeply involved in FTX's operations.
Gabe, a former Democratic politico, ran a nonprofit organization primarily funded by FTX.
He also promoted the concept of effective altruism, a philosophy that seemingly aimed to help humanity with monetary contributions.
However, it was revealed that he authored a memo proposing the purchase of Nauru, a small island nation, to create a bunker for survival in the event of a global catastrophe.
"The goal, according to the memo, would be to build a bunker that could be used in the event that ‘50%-99.99% of people die,’ with the aim of ensuring that most EAs, or effective altruists, can survive, as well as to develop ‘sensible regulation around human genetic enhancement, and build a lab there…Probably there are other things it’s useful to do with a sovereign country, too,'" according to a Forbes report.
As for Barbara Fried, Sam Bankman-Fried's mother and a law professor at Stanford, there is no direct evidence of her involvement with FTX.
"All that can be said for now is she didn’t do a great job of drawing on her scholarly research on corporate ethics to guide her sons," Forbes's Jeff John Roberts wrote.
While only Sam Bankman-Fried has faced legal charges thus far, the recent filing sheds
Read more on cryptonews.com
