Bankman-Fried is currently under house arrest while awaiting his trial this fall.
Disgraced FTX founder Sam Bankman-Fried is purportedly paying for his expensive legal defense using money from a “multi-million-dollar gift” he gave to his father – with funds taken from his doomed cryptocurrency hedge fund, Alameda Research.
The report alleged that Bankman-Fried secured at least $10 million via a loan from Alameda Research and gave the money to his dad using a “lifetime estate and gift tax exemption.” Representatives for Bankman-Fried and his parents did not immediately return The Post’s request for comment. Bankman-Fried has assembled a high-powered legal team to fight his case, including Mark Cohen and Christian Everdell,that represented convicted sex offender and Jeffrey Epstein companion Ghislaine Maxwell.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His FatherWhile still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company.
Read more »
Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His FatherWhile still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company.
Read more »
Sam Bankman-Fried's Lawyers, Prosecutors Agree on Proposed Bail ConditionsLawyers for SBF_FTX have agreed on bail conditions for the founder of crypto exchange FTX_Official with U.S. prosecutors. By JamieCrawleyCD
Read more »
Sam Bankman-Fried, prosecutors reach new bail agreementLawyers for Sam Bankman-Fried said they reached an agreement with U.S. prosecutors on Monday on revised bail conditions, after a judge raised the prospect of sending the indicted FTX cryptocurrency exchange founder to jail pending trial.
Read more »
Sam Bankman-Fried can use cell phone without internet as part of new bail conditionsAttorneys for the FTX founder and federal prosecutors reached an agreement on revised bail conditions.
Read more »
Prosecutors add bribery to list of charges against FTX founder Sam Bankman-Fried | CNN BusinessFederal prosecutors tacked on a 13th criminal charge against Sam Bankman-Fried, accusing the FTX co-founder of bribery in addition to multiple counts of fraud and conspiracy.
Read more »