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Posts tagged as “Bankman-Fried’s”

FTX Files Lawsuit Against Co-Founder Sam Bankman-Fried’s Parents for Allegedly Misappropriating Millions in Customer Funds

FTX, a crypto exchange giant that recently went bankrupt, has filed a lawsuit against the parents of its co-founder Sam Bankman-Fried, accusing them of misappropriating millions of dollars worth of funds from the company for their personal use. The lawsuit, filed in federal court, alleges that Barbara Fried and Joe Bankman used their influence to enrich themselves, and FTX is now led by a turnaround specialist to recover the billions of dollars lost in customers' funds. The lawsuit comes days before Bankman-Fried's criminal trial is set to begin over allegations of defrauding customers and lenders.