1 year ago
Stanford University volition beryllium returning "gifts," purportedly worthy millions of dollars, it received from FTX, allegedly orchestrated by Sam Bankman-Fried's parents, according to a Bloomberg report.
Joseph Bankman and Barbara Fried are professors astatine Stanford Law School. On Monday, the FTX Group sued Bankman and Fried for misappropriating millions, including $5.5 cardinal successful donations to Stanford University.
“We person been successful discussions with attorneys for the FTX debtors to retrieve these gifts and we volition beryllium returning the funds successful their entirety,” a Stanford University spokesperson said, according to Bloomberg. “Stanford received gifts from the FTX Foundation and FTX-related companies mostly for pandemic-related prevention and research.”
The parents person denied each the allegations calling them "completely false." Their son, Sam Bankman-Fried, the laminitis and erstwhile CEO of the bankrupt FTX cryptocurrency exchange, is preparing for a proceedings adjacent period from down bars.
"This is simply a unsafe effort to intimidate Joe and Barbara and undermine the assemblage process conscionable days earlier their child's proceedings begins," attorneys for the parents said successful a associated connection to CoinDesk aft FTX sued them.
Stanford University and representatives of Joshua Bankman and Barbara Fried didn't respond to CoinDesk's petition for remark astir Stanford's reported determination sent aft concern hours successful the U.S.
Edited by Parikshit Mishra.
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