Sam Bankman-Fried, co-founder of failed crypto exchange FTX, was sued in Delaware bankruptcy court on Thursday by his ex-company's lawyers, who accuse him and members of his leadership team of stealing hundreds of millions of dollars.
The lawyers are seeking to recover funds from Bankman-Fried and former executives of FTX and sister hedge fund Alameda Research.
One way the attorneys for the bankrupt exchange say Bankman-Fried pilfered money was through a $10 million gift to his father, distinguished legal scholar Joe Bankman.
Much of that $10 million gift from was routed from FTX to Bankman-Fried's Morgan Stanley and TD Ameritrade accounts around January 2022, the lawsuit alleges.
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Persons:
Sam Bankman, Fried, Joe Bankman, Fried's Morgan Stanley, FTX, Caroline Ellison, Gary Wang, Nishad Singh, Taylor Swift
Organizations:
Alameda Research, Bankman, FTX, Alameda
Locations:
Delaware, Bankman, Alameda, FTX