SBF’s Brother Founded an Organization to Lobby Congress Members

Lavina Daryanani
Source: Bloomberg

With every passing day, new discoveries related to Sam Bankman-Fried [SBF] and FTX are being found. Just a day back, a new filing revealed that the bankrupt exchange owes money to companies like Apple, Binance, and Netflix. Before that, BlockFi accidentally disclosed its $1.2 billion exposure to FTX.

Now, the parents and brother of Bankman-Fried and reportedly under the radar. In a recent court filing, lawyers demanded the kith and kin of Bankman-Fried to answer questions and furnish financial documents about their personal wealth. In addition, lawyers have also asked for other documentation that may reveal any sort of FTX money transfer.

The filing went on to disclose that Sam Bankman-Fried’s brother, Gabriel Bankman-Fried, founded an organization that lobbied members of the US Congress. It was reportedly based out of a property situated near the US Capitol.

FTX lawyers seek to question SBF’s family

It is a known fact that FTX was involved in lobbying elected officials and making campaign donations. In fact, SBF was a generous donor, especially to the Democrats. As reported recently, he sanctioned over $40 million in funds in 2022. He also contributed $300,000 to the House Financial Services Committee’s Democratic members. Notably, Robert Francis “Beto” O’Rourke, an American politician, received $1 million in contributions for his campaign from SBF.

Read More: Beto O’Rourke Still Holds $100K Out of the $1M Donation by Sam Bankman-fried

FTX, at the moment, is tracing down hidden assets that could potentially be used to repay creditors that are owed billions. So, taking a step in that direction, lawyers have asked for permission to question Bankman-Fried’s family and a host of the company’s former top executives.

Joseph Bankman and Barbara Fried were allegedly involved in their son’s company. Joseph Bankman offered tax advice to the exchange’s employees. In fact, the filing also revealed that he assisted in the legal team recruitment process. Furthermore, Fried also founded a political action committee that got money from FTX and its top executives.

Also Read: FTX Bankruptcy Court Held up by Appointment of an Independent Investigator

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