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Tags: sam bankman-fried parents | not guilty plea | criminal charges | ftx cryptocurrency

Bankman-Fried's Parents Physically Threatened, Attorneys Say

Bankman-Fried's Parents Physically Threatened, Attorneys Say
A guard walks past a private property sign shown near the family home of FTX founder Sam Bankman-Fried in Palo Alto, Calif., Dec. 23, 2022. (Jeff Chiu/AP)

Tuesday, 03 January 2023 09:25 AM EST

Sam Bankman-Fried's parents have been getting physical threats since the collapse of their son's now-bankrupt FTX cryptocurrency exchange, his lawyers said Tuesday.

The disclosure was made in a filing in Manhattan federal court, where the lawyers asked that the names of two remaining sureties for Bankman-Fried's $250 million bond not be disclosed.

Bankman-Fried is expected on Tuesday to enter a plea of not guilty to criminal charges that he cheated investors and looted billions of dollars from FTX, according to a source familiar with the matter.

Bankman-Fried is accused of illegally using FTX customer deposits to support his Alameda Research hedge fund, buy real estate and make millions of dollars in political contributions, in what prosecutors have called a fraud of epic proportions.

Bankman-Fried has been required to live with his parents, Joseph Bankman and Barbara Fried, with electronic monitoring since bail conditions were set. The family has reportedly been paying $10,000 a week for private armed guard protection.

In Tuesday's filing, his lawyers said the parents "have in recent weeks become the target of intense media scrutiny, harassment, and threats. Among other things, Mr. Bankman-Fried's parents have received a steady stream of threatening correspondence, including communications expressing a desire that they suffer physical harm."

As a result, the lawyers said there was "serious cause for concern" the additional sureties might face similar privacy intrusions, threats and harassment, and that this overcame any public right of access to their identities.

Bankman and Fried are professors at Stanford Law School.

They agreed to co-sign their son's bond, with the additional sureties signing separate bonds in lower amounts.

© 2024 Thomson/Reuters. All rights reserved.


StreetTalk
Sam Bankman-Fried's parents have been getting physical threats since the collapse of their son's now-bankrupt FTX cryptocurrency exchange, his lawyers said Tuesday.
sam bankman-fried parents, not guilty plea, criminal charges, ftx cryptocurrency
266
2023-25-03
Tuesday, 03 January 2023 09:25 AM
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