### Sam Bankman-Fried is facing multiple charges of fraud stemming from his role in FTX’s catastrophic collapse. Last week, his bail was revoked after a judge found “probable cause” of witness tampering.  

 

Bankman-Fried’s parents have stood by his side since his arrest in the Bahamas last year. Until being taken to the Metropolitan Detention Center in Brooklyn, Bankman-Fried was under house arrest at his parents’ multimillion-dollar home in the San Francisco Bay Area. After the order for arrest was read, Bankman-Fried’s mother, who was present at the trial with his father, tried to approach him but was disallowed by a court officer.  

 

Who are Joseph Bankman and Barbara Fried? 

 

Both of Bankman-Fried’s parents are professors at Stanford University. Joseph Bankman is a law professor and is described on Stanford’s [website](https://law.stanford.edu/directory/joseph-bankman/) as a “leading scholar in the field of tax law. Aside from being a lawyer, Bankman is also a clinical psychologist. 

 

Bankman is involved in issues of tax policy, having testified before Congress about how a cash economy creates problems with tax compliance. He worked with the State of California to develop ReadyReturn, a completed tax return made by the state for low to middle-income taxpayers.  

 

Bankman-Fried’s mother, Barbara Fried also taught law until her retirement in September. According to her [biography](https://law.stanford.edu/directory/barbara-fried/), her “scholarly interests lie at the intersection of law, economics, and philosophy.” She also won the John Bingham Hurlbut Award for Excellence in Teaching three times.  

 

Fried is an author, having published poetry and short stories. She also wrote the biography of legal economist Robert Hale.  

 

Bankman and Fried’s alleged ties to FTX 

 

According to a report published in [The Wall Street Journal](https://www.wsj.com/articles/sam-bankman-frieds-parents-were-there-for-ftxs-rise-and-now-its-fall-11670841001), Bankman was paid as an FTX employee for 11 months to run charitable projects. However, the report noted that he did not have a hand in FTX’s management.  

 

However, an article for [The New York Times](https://www.nytimes.com/2022/12/12/technology/sbf-parents-ftx-collapse.html) indicated instances when Bankman influenced the company. The report said he was involved in hiring members of FTX’s first legal team. Also, Bankman, along with FTX executives, was present at meetings held at Capitol Hill.   

 

After Bankman-Fried’s arrest, the Securities and Exchange Commission alleged that Bankman-Fried misappropriated FTX funds to purchase luxury real estate in the Bahamas for others, including his parents.  

 

In November, a report in [Reuters](https://www.reuters.com/technology/exclusive-bankman-frieds-ftx-parents-bought-bahamas-property-worth-121-mln-2022-11-22/) said that Bankman and Fried are the signatories for a home in a gated community in the Bahamas. The vacation home is listed at $16.4 million. 

 

Bankman and Fried are not named in the lawsuits against FTX and their son. 

 

Sam Bankman-Fried is facing multiple charges of fraud stemming from his role in FTX’s catastrophic collapse. Last week, his bail was revoked after a judge found “probable cause” of witness tampering.  


Thu Aug 17 2023

Sam Bankman-Fried Parents Are His Biggest Supporters. Here’s What We Know About Them

Sam Bankman-Fried Found Guilty

Sam Bankman-Fried Slated to Testify at His Trial

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Sam Bankman-Fried Slated to Testify at His Trial

Thu Aug 17 2023 Sam Bankman-Fried Parents Are His Biggest Supporters. Here’s What We Know About Them

Sam Bankman-Fried Found Guilty

Sam Bankman-Fried Slated to Testify at His Trial

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

FTX Founder Sam Bankman-Fried Sent to Jail for Alleged Witness Tampering

Sam Bankman-Fried Slated to Testify at His Trial

Thu Aug 17 2023

Sam Bankman-Fried Parents Are His Biggest Supporters. Here’s What We Know About Them