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SBF's Dad's Legal Bill Mystery: Alameda Funds Fuel Crypto's Biggest Scandal

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Here’s where it gets messy: While Sam Bankman-Fried waits for sentencing on 7 counts of fraud, Forbes just dropped that his dad—Stanford Law prof Joseph Bankman—got millions transferred to him back in 2021. The catch? It came from an Alameda Research loan, and SBF was using a tax loophole to make it happen.

So basically: customer deposits → Alameda → Dad’s account → Legal defense fund. Connect the dots.

The numbers don’t add up:

  • SBF’s defense legal bills: millions
  • FTX customer funds allegedly siphoned to Alameda: $10 billion
  • His former net worth: obliterated

Meanwhile, his parents are all-in—they literally mortgaged their California home for his $250M bail. And his legal team (including ex-federal prosecutors Mark Cohen and Christian Everdell)? Radio silence on the funding source.

The irony: SBF keeps saying “I didn’t steal funds.” But the evidence trail looks like… well, you be the judge.

This whole saga just proves why the industry is under the microscope right now. When your founder’s family is backing his legal war chest with allegedly misappropriated customer funds, you’ve got a problem.

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