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.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
SBF's Dad's Legal Bill Mystery: Alameda Funds Fuel Crypto's Biggest Scandal
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:
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.