Fraud Allegations Raised Against Sam Bankman-Fried’s Father by XRP Lawyer Amidst FTX Collapse Saga

According to CoinGape:With FTX founder Sam Bankman-Fried convicted of multiple criminal charges, XRP lawyer John Deaton has brought attention to the alleged involvement of Bankman-Fried's father in the mismanagement that led to the collapse of the cryptocurrency exchange in November 2022.On November 2, 2023, a jury found Bankman-Fried guilty of wire fraud, conspiracy to commit fraud, and conspiracy to commit money laundering, among other charges. Considering all seven criminal offenses, the maximum sentence mounts up to more than 100 years. However, Attorney John Deaton predicts that the FTX founder could get a sentence exceeding 60 years. The judge has set the sentencing proceedings for March 28, 2024.Bankman-Fried's lawyers plan to challenge the jury verdict, stating that their client "will continue to vigorously fight the charges against him."John Deaton further suggested that Joseph Bankman, Bankman-Fried's father, may also be implicated in fraud allegations. Deaton referenced email communications uncovered that show Joseph Bankman requesting a higher salary from his son, saying, "We all know his Dad is also complicit... His dad didn’t demand a higher salary for nothing.”FTX, currently governed by CEO John J. Ray III, filed a lawsuit against Sam Bankman-Fried's parents, Joseph Bankman and Barbara Fried, for millions of dollars in fraudulent transfers and misappropriated funds in September 2023. One of the allegations is that Bankman-Fried paid his legal fees with these funds.An email exchange surfaced in the lawsuit filings, showing Joseph Bankman expressing dissatisfaction with his $200,000 annual salary in January 2022. He noted that his income was a mere 20% of what he believed he deserved.