The attorneys representing FTX in the bankruptcy proceedings indicated, in a document (1) that was filed on Wednesday, that Sam Bankman-immediate Fried’s family is not collaborating as much as they should be during the investigation of FTX.
The attorneys advised their clients that the relatives ought to cooperate throughout the questioning concerning their individual riches.
The following was stated in the legal document that was filed by FTX and representatives of creditor organizations:
“Important issues still need to be answered in various areas of the debtors’ finances and transactions.
During the hearing that took place on Wednesday, the attorneys asked the judge presiding over the case in the District of Delaware, John Dorsey, for permission to examine Joseph Bankman, Barbara Fried, and Gabriel Bankman-Fried, who are, in order, the father, mother, and brother of SBF.
Additional officials may be subjected to the same line of questioning to locate the assets associated with the defunct crypto currency exchange.
The attorneys are interested in learning who got monies from FTX that may or may not have been stolen and what conversations those individuals had with the company’s leadership.
Nevertheless, the attorneys have asserted that several possible witnesses are not participating enough despite the requests that have been made of them.
Role SBF’s Family in FTX
SBF’s father, Joseph Bankman, who also worked as a professor at the Stanford Law School, acted as a tax consultant to FTX’s workers and offered suggestions for the legal team selection.
In addition, SBF’s father served as a tax adviser to FTX’s shareholders. Joseph Bankman and his wife, Barbara Bankman, have co-signed a promise that the bail amount of $250 million will be paid out of the equity of their California house.
In the filing, the attorneys mentioned that their conversations with Joseph Bankman are “ongoing” and likely result in a mutually agreeable resolution.
The lawyers went on to say that SBF’s mother, Barbara Fried, “had ignored the demands entirely” and that she has also not gotten any significant interaction from SBF’s father, Gabriel Bankman-Fried
According to the allegations, donations to Barbara Bankman-political Fried’s action committee, known as Mind the Gap, came from SBF and other employees of FTX.
According to the document, the company’s parents “resided in a $16.4 million [Bahamas] mansion named in their names, despite recognizing that the house was ‘supposed to be the company’s property.”
During filing for bankruptcy, Gabriel’s attorneys stated that his lobbying organization, Guarding Against Pandemics, “bought a multimillion-dollar home a few streets from the United States Capital.” The creditors claim that this property was purchased with stolen customer monies.
The attorneys argued in the motion that the court should issue subpoenas for Sam Bankman-Fried and FTX executives Gary Wang and Caroline Ellison to testify in the case. The motion will be taken into consideration during the hearing scheduled for February 8 at the United States bankruptcy court located in Delaware.
