Sam Bankman-Fried’s Parents Sued by FTX Over Alleged ‘Misappropriation’ of Millions

FTX has filed a lawsuit against the parents of its founder, Sam Bankman-Fried, with the aim of recovering millions of dollars that the company alleges were fraudulently transferred and “misappropriated,” according to a court filing made late on Monday, The Wall Street Journal reported.

The lawsuit, filed in a Delaware bankruptcy court, represents the latest effort by FTX’s CEO, John J. Ray III, to recover some of the funds that Bankman-Fried allegedly distributed to family members and associates prior to the cryptocurrency exchange’s collapse in November of the previous year.

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