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The mother and father of Sam Bankman-Fried, who was arrested Monday within the Bahamas based mostly on an indictment in the US, are Stanford College legislation professors who face scrutiny for their very own roles within the collapsed cryptocurrency change FTX, The New York Occasions reported.
Joseph Bankman is a professor of tax legislation and was a paid worker of FTX. “Mr. Bankman was a outstanding cheerleader for the corporate, serving to to form the narrative that his son was utilizing crypto to save lots of the world by donating to charity and giving low-income folks entry to the monetary system,” stated the Occasions.
Barbara Fried didn’t work for FTX, “however her son was among the many donors in a political advocacy community that she orchestrated,” the article added.
Fried resigned final month as chairwoman of the board of a political donor community, Thoughts the Hole, which supported Democratic campaigns and causes. Bankman has postponed a Stanford class he had been scheduled to show within the winter. “The household faces enormous authorized payments, and so they have develop into the topic of gossip on Stanford’s campus,” stated the article.
“I had a pal who stated, ‘You don’t need to be seen with them,’” stated Larry Kramer, a former dean of the legislation college and a pal of the Bankman-Fried household. “I don’t see how this doesn’t bankrupt them.”
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