FTX attorneys accuse Sam Bankman-Fried’s parents of unjustly enriching themselves with company funds

By RANDALL CHASE
AP Business Writer

DOVER, Del. (AP) — Lawyers for collapsed cryptocurrency exchange FTX Trading are accusing Sam Bankman-Fried’s parents of exploiting their influence over their son and the company he founded to enrich themselves by millions of dollars. A lawsuit against Allan Joseph Bankman and Barbara Fried was filed Monday as part of the FTX bankruptcy case in Delaware. It seeks to recover damages allegedly caused by the couple through breaches of fiduciary duties, fraudulent transfers, unjust enrichment and other wrongdoing. Attorneys for Bankman and Fried say the claims against them are completely false. Bankman is a Stanford University law professor and expert in tax law, and Fried is a retired Stanford law professor.