During the peak of his crypto empire, SBF reportedly gifted his father at least $10 million as part of a lifetime estate and gift tax exemption.
The former FTX CEO reportedly gave Joseph Bankman roughly $10 million funded by a loan from Alameda Research as a part of a lifetime estate and gift tax exemption.
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Sam Bankman-Fried reportedly paying legal bills with Alameda funds gifted to his dadBankman-Fried is currently under house arrest while awaiting his trial this fall.
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Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His FatherWhile still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company.
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Sam Bankman-Fried’s Legal Defense Is Being Funded With Alameda Money He Gifted His FatherWhile still CEO of now-collapsed FTX, Bankman-Fried transferred millions of dollars to his father. Some of those funds have since been used to pay for his mounting legal fees, according to two sources close to the company.
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Sam Bankman-Fried's Lawyers, Prosecutors Agree on Proposed Bail ConditionsLawyers for SBF_FTX have agreed on bail conditions for the founder of crypto exchange FTX_Official with U.S. prosecutors. By JamieCrawleyCD
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Sam Bankman-Fried, prosecutors reach new bail agreementLawyers for Sam Bankman-Fried said they reached an agreement with U.S. prosecutors on Monday on revised bail conditions, after a judge raised the prospect of sending the indicted FTX cryptocurrency exchange founder to jail pending trial.
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Sam Bankman-Fried can use cell phone without internet as part of new bail conditionsAttorneys for the FTX founder and federal prosecutors reached an agreement on revised bail conditions.
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