The Motion to Dismiss: Sam Bankman-Fried’s Parents Respond to Lawsuit
The parents of former FTX CEO, Sam Bankman-Fried, have filed a motion to dismiss the lawsuit accusing them of exploiting their access and influence within the now-bankrupt crypto exchange. The lawsuit, filed by the FTX estate, claims that Joseph Bankman and Barbara Fried transferred and misappropriated funds from the exchange.
The couple argues in their filing that the lawsuit is based on the fact that their son was involved with FTX and does not provide substantial evidence of wrongdoing. They point out that the alleged transactions occurred when FTX was still solvent and successful. Additionally, they claim that they never used the luxury property in The Bahamas as their primary residence.
Hot Take: Bankman-Fried’s Parents Fight Back
In response to the lawsuit filed by the FTX estate, Sam Bankman-Fried’s parents have submitted a motion to dismiss the case. They argue that there is no evidence of wrongdoing and that the lawsuit is merely capitalizing on their son’s involvement with FTX. The couple claims that the alleged transactions took place when FTX was financially stable and successful. They also deny using the luxury property as their primary residence. It remains to be seen how the court will rule on this motion and whether the FTX estate will be able to recover any assets from Bankman-Fried’s parents.
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