Their unwavering support isn’t all that unusual. But Bankman, 68 years old, and Fried, 72, aren’t like most parents. The luster of their careers as beloved Stanford Law professors helped pave the way for the stunning rise of their son’s crypto exchange, FTX. And their direct dealings with that company, and the perks they received from their son before FTX filed for bankruptcy, have opened them up to legal headaches of their own.
Bankman worked for a time as a paid employee at FTX. Fried had no formal position there, but FTX alleges that she helped direct her son’s millions of dollars of political donations. The company, now under new management, has sued them both, arguing they pocketed millions that should be returned.
The couple’s lawyers have said the allegations are “completely false” and “a dangerous attempt to intimidate Joe and Barbara.”
‘Enforcement 40’ for 2020
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedIn