Prosecutors of FTX case looking into former CEO's parents for alleged involvement

The prosecutors of now bankrupt crypto-currency firm FTX are looking into the parents of former CEO Sam Bankman-Fried.

It is alleged they are involved in the disappearance of the equivalent of $12 billion in customer funds.

Mr Bankman-Fried is awaiting extradition to the US where he will face eight charges of fraud relating to the collapse of the crypto platform.

[shapursasan]

Both of his parents were involved in Sam's scam more than anyone else beside Sam himself.

[followingtheword]

How about looking at the political class who profited from the scam?

[fish]

Not looking in to the politicians he gave money to? Nah 🤪

[mangakey]

Don't forget Bankman SR. worked for Warren for a number of years... and Bankman Jr. Donated to Warren as well... Someone should look into that...

[Sum_Ting_Wong]

After 6 weeks of this debacle, they only mention his parents involvement now when everyone on social media was talking about their involvement with lawmakers and legislators???

Pathetic journalism

[TheeeeLastToFall]

Bernie Madoff with people's money and Bankman banked man...how fitting their names are.

[lsj]

They need to look into his girlfriend and her 🧐

[ps]

His parents must have known if they live in their 100m condo

[JDAfrica]

Simple Solution - anyone that was given money (politicians and organizations) by FTX should return the funds - if not, they get fully audited and charged with being an accessory to fraud and money laundering.

Sieze his parents’ assets, and let them sit in prison - while Mr Fried thinks about his decision to co-operate.

A few weeks in general population in a med security prison may assist his willingness to assist in getting money back.

[dianakidd]

He paid them a monthly allowance and bought them a 16 million dollar home, they would start packing. It will go to auction.

[brwttd]

All that money and the nerd couldn't even pay for a haircut.

[guss]

The whole family must be involved, otherwise how the hell he would have access to info and advice without hiring the proper professionals.
They are all guilty AF!
Jail and seize all their assets.

[wayne]

What a mess this is… and it doesn’t even need a genius to figure out something is wrong. Who were the auditors and didn’t any VC do their dd before investing?

[allensprouse]

Bernie Madoff was sentenced to 150 years, Sam Bankman Fried should receive the harshest penalty provided by law! The democrats need to be investigated for money that they received from FTX and made to return it to the original investors.

[tacticalcenter]

The FED Gary was involved too, no? The MIT professor... And Sam's girlfriend's family?
Sam is just the fall guy. The scam is much bigger involving a lot more people.

[nyranstanton]

allthe people that marketed the scammy company should be investigated, including hte celebrities and especially the investment companies that should of known better.

[mikesmith-fwnc]

This is what happens when "smart" kids think they can make a quick buck by setting up these themes and scams. Social media makes it look so easy with all these celebrity idiots parading around in their fast cars and big houses. Everyone thinks they can do it and get away with it.

[pier-oliviermarquis]

There is a 0% chance that his parents never asked about accounting, risk management, or record-keeping over all these years. They both knew it was a scam and went along with it. Other people could have claimed they didn't know, but his parents are experts in compliance. They definitely knew.

[rossmeldrum]

As an accountant, all I can say is for people who claimed to be so smart, educated and intelligent they sure were stupid by not having the simple basics like accountants, a set of books and financial controls in their company. And you can't help but wonder how many people who invested in this even did their due diligence?

[tuomasholo]

She's turned states evidence. SBF is cooked.