FTX Files Lawsuit Against Sam Bankman-Fried's Parents Over Alleged Misappropriation of Funds

Cryptocurrency exchange FTX has filed a lawsuit against the parents of its co-founder and former CEO, Sam Bankman-Fried, alleging that they siphoned money from their son's companies for personal gain and directed funds to organizations serving their interests. The complaint accuses Joseph Bankman and Barbara Fried of exploiting their access and influence within FTX, accepting millions of dollars and a property paid for with company funds. FTX is seeking compensatory damages, the return of funds and property, punitive damages, and attorneys' fees. Bankman and Fried's lawyers deny the claims, calling them false and an attempt to intimidate their clients. Bankman-Fried himself is facing federal charges related to the collapse of his crypto empire and is set to go on trial next month.