SBF’s Brother Founded an Organization To Lobby Congress Members 

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New findings on Sam Bankman-Fried and FTX are being made daily. According to a recent filing, the collapsed exchange owes money to companies including Apple, Binance, and Netflix. Prior to that, by mistake, BlockFi revealed its $1.2 billion exposure to FTX.

The current status of Bankman-Fried’s parents and brother is unknown. In a recent court filing, attorneys ordered that Bankman-Fried’s relatives respond to inquiries and provide financial records pertaining to their individual wealth. Lawyers have also requested more records that might indicate an FTX money transfer.

The document also revealed that Gabriel Bankman-Fried, the brother of Sam Bankman-Fried, created a group that pressured US Congressmen. It supposedly operated out of a building close to the US Capitol.

It is well known that FTX contributed to political campaigns and engaged in lobbying for public authorities. SBF did indeed give generously, mainly to the Democrats. According to recent reports, he sanctioned more than $40 million in funding in 2022. 

Additionally, he gave $300,000 to the Democratic members of the House Financial Services Committee. Notably, SBF contributed $1 million to the campaign of American politician Robert Francis “Beto” O’Rourke.

FTX is now looking for hidden assets that may be utilized to settle billions of dollars in debt to creditors. In order to move in that direction, attorneys have requested authorization to examine Bankman-Fried’s family as well as other former senior executives of the corporation.

Barbara Fried and Joseph Bankman reportedly worked for their son’s business. The staff of the exchange received tax counsel from Joseph Bankman. According to the complaint, he really participated in the hiring process for the legal staff. Fried also established a political action group, which received funding from FTX and its senior executives.

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