Standing by Bankman-Fried as his companies FTX and Alameda grew (and subsequently collapsed) were two respected Ivy-League trained lawyers who, potentially, should have spotted the red flags
Sam Bankman-Fried’s multibillion-dollar crypto empire was run primarily by “grossly inexperienced and unsophisticated individuals” who failed to institute basic corporate controls and even relied on QuickBooks to do their accounting, according to investigators. But standing by Bankman-Fried as his companies FTX and Alameda grew were two respected Ivy-League trained lawyers who, potentially, should have spotted the red flags.
That expertise could become a liability if he is eventually charged with wrongdoing. “He is a highly knowledgeable and deeply expert person in areas that concern the set-up and operation of complex companies,” said Yesha Yadav, professor of law at Vanderbilt University. “Arguably, his qualifications and academic stature can work against him as part of any legal case, because the argument may be made that he really should have spotted problems.
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