Stanford University, which received millions in donations from Sam Bankman-Fried’s parents — longtime Stanford Law School professors Joseph Bankman and Barbara Fried — said it pla…
The decision to return the fund comes after FTX’s advisors claimed, “misappropriated funds” they received from FTX and its sister hedge fund, Alameda Research, including when they allegedly “pushed for tens of millions of dollars in political and charitable contributions, including to Stanford University,” the court documents said.
The charitable gifts to Stanford allegedly began the month before when “Bankman directed a donation of $500,000 from FTX Trading to pass through Paper Bird,” a Delaware-based company owned by Bankman-Fried, according to the court filing.Sam Bankman-Fried’s parents sued by bankrupt crypto exchange FTX for ‘fraudulently transferred’ funds
“A few months later, the gift was funded by a Bitcoin transfer from an Alameda Ltd. FTX.com exchange account that, because of the fluctuating price of Bitcoin at the time it was sold, was worth $4,010,579,” the filing said.
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