A Reuters report suggested that the former CEO of FTX is eligible to surrender for the US extradition request after initially stating that he would oppose the extradition process to the United States and that his parents, who are looking for their son in the Bahamas He is facing investigation on how he was involved in the whole process and how he was playing a key role in the operation of crypto exchange FTX. When speaking in front of the US Congress about its downfall, the current CEO was asked about the former CEO’s parents and whether or not Joseph Bankman was an employee. When asked about the status of their payments, it was reported through the new CEO and head of the FTX restructuring that the family had definitely received payments and the report followed the truth throughout the process in which the allegation was made. that $121 million in Bahamian real estate was linked to his parents and FTX and of course a special home that was purchased in the name of the former CEO’s parents was worth $16.4 million and it was detailed that It was intended to be the property of the company i.e. the property belonged to the company and they don’t know how it was papered and made valid where’SBF’s parents tell the spokesperson that they both have the right to do so There was absolutely no intention and never even believed that the house owned by them was beneficially and economically owned by someone else i.e. it was not their personal property.
Both Fried and Bankman teach law at Stanford University, and a recent article by the news publication clarified that SBF’s parents were moralists, and they themselves stated that their parents were not required to take any responsibility for his case even though he had cancelled the law class he had proposed to teach. Fried recently tendered his resignation from the super political action committee Mind the Gap, a PAC he founded in 2018.
According to Wall Street Journal writers Justin Beyer and Hardika Singh, it was reported by a family spokesperson that the former CEO was paid by FTX for at least 1 year as he is working on good plans for the defunct crypto exchange. And all the plans that are related to charitable projects and it was also reported that the former CEO was advised before speaking before the House Financial Services Committee on December 8, 2021 and of course according to the work on charitable plans for the defunct Exchange, the family A spokesperson for FTX reported that Bankman had been paid by FTX for at least a year as he was working on charitable projects for the now-defunct crypto exchange.
Reports indicate that SBF was counselled on legal matters prior to the Chapter 11 filing and prior to his resignation and it is currently unknown whether or not his parents were involved in their business dealings. They all date whether or not and of course the family faces significant legal bills when white-collar attorneys are hired by the former CEO. We can definitely say that what is being questioned on the parents of SBF is whether they have committed any wrongdoing on their part or not because whatever assets they have All the assets received are being declared as the property of crypto exchange without knowing the personal property and surely we can also say that their parents had no knowledge about it as per the source, Where of course you can also imagine that the agency and other executives as well as the current FTX CEO are working on this same quest to somehow uncover the truth and scrutinise every trading activity. We can understand that now this judicial process comes to the conclusion that all kinds of investigations should be disclosed and all the secrets related to crypto exchange can be revealed and of course all the evidence is present in front of everyone. To be shown In fact, this is an investigation process that everyone will have to face and through this investigation, Congress and other senators will decide what possibilities can develop further.
