The parents of Samuel Bankman-Fried will defend their son at the expense of their reputations; saving him from justice is their only mission in life. Bankman-Fried's mother has said that the accused fraudster, held in jail for witness tampering, will "never speak an untruth," immediately calling her judgment regarding her son into question. The Bankman-Fried's received cash, and real estate from their son during his term as CEO of FTX, a crypto exchange wherein he is alleged to have fraudulently misused billions in investor dollars. Apparently, his parents still feel they are entitled to their enrichment.
Bankman-Fried is also trying to get out of jail, once again, but his witness tampering seems to have cost him any leeway with the Judge. Throughout the entire process of Bankman-Fried bankrupting FTX and getting caught with his hand in the cookie jar, the former CEO has maintained his innocence in a smarmy way that doesn't suggest he has any regrets.
The FTX Debtors filed a lawsuit against Bankman-Fried's parents last Monday, accusing them of siphoning millions of dollars from the crypto exchange. The couple's attorneys described the allegations as "completely false" and a "dangerous attempt to intimidate" them.
Emails cited in the lawsuit also said that Bankman-Fried's dad, Joe Bankman, was upset with his $200,000 salary from FTX because he thought he would be paid $1 million by his son's crypto firm.
FTX also purchased a $16.4 million beachfront house in the Bahamas for Bankman-Fried's parents, lawyers said.
"It takes a lifetime to build up a reputation as honorable people," Fried, a Stanford professor emeritus and cofounder of the Mind the Gap PAC, told The New Yorker. "It takes five minutes to destroy it, which they now have done."
"Sam will never speak an untruth," Fried told The New Yorker.
"I don't care what is said about me, Joe doesn't care what is said about him," she added. "Saving Sam is the major project of our lives."