FTX’s new management is still on the hunt for the missing funds, after they located more than $5 billion in liquid assets. They are now looking to Sam Bankman-Fried’s family for any financial benefits they may have gotten from the company.
A recent court filing lists both parents and the brother of the former CEO as advisors to SBF. Reportedly, Bankman-Fried’s parents served as tax advisors to FTX personnel.
But more importantly, it states that they are currently not cooperating with the investigation, and FTX is now asking for the issuance of subpeonas to recover any document and information pertaining to the fraud that was perpetrated by the disgraced founder and his associates.
SBF’s father reportedly already retained a lawyer earlier this month as he expected some fallout. Both parents boasted ties to the Democratic Party. Although Barbara Fried was not listed as an employee as her husband was for nearly a year, they both received payments from the exchange according to John Ray III.
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