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FTX will sue Sam Benkman-Fried’s parents

September 19, 2023
11:06 AM

FTX Cryptocurrency Exchange filed lawsuit against Sam Benkman-Fried’s (SBF) parents, Joseph Benkman and Barbara Fried. The exchange team claims that it wants to return millions of dollars that were allegedly transferred by the latest fraudulent means.

The document also asks the court to return to the company property that was transferred to the parents of the former CEO of FTX.

“On February 11, 2022, Benkman and Fried signed an agreement to purchase the 30,000 sq. ft. Blue Water property. feet for $16.4 million. Taking into account all fees, expenses and taxes, $18.9 million was paid. Neither Bankman nor Fried contributed their own funds to purchase Blue Water; the entire amount was paid with debtors’ funds,” the document says.

In addition, the complaint notes that SBF, through its understanding of tax laws and FTX’s corporate structure, provided a cash gift of $10 million to his parents. It was financed by a loan taken from Alameda Research.

Previously, the court rejected Sam Benkman-Fried’s request for release from prison. The media also reported that SBF’s parents helped him open the FTX crypto exchange and create the FTT token.

Source: Cryptocurrency

David

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