Sam Bankman-Fried’s fraud trial and his parents’ entanglement with FTX has ‘marred their reputation at the end of their lives,’ says a writer who observed the family receive…
In this courtroom sketch, Sam Bankman Fried’s parents Barbara Fried, left, and Joseph Bankman react to the jury verdict in Manhattan federal court, Thursday, Nov. 2, 2023, in New York. A New York jury has convicted FTX founder Sam Bankman-Fried of fraud charges.
“After the first ‘guilty’ was read aloud — for wire fraud — his father doubled over,” Lopatto said. “His mother’s hands rose to cover much of her face, either to stifle tears or to hide them.” In this courtroom sketch, FTX founder Sam Bankman-Fried, right, is cross examined by Assistant US Attorney Danielle Sassoon, left, while Judge Lewis Kaplan listens, center, in Manhattan federal court, Monday, Oct. 30, 2023, in New York.
But the collapse of FTX in November 2022 shattered this glowing image of the family. Prosecutors began building a case alleging that Bankman-Fried was a greedy fraudster who built his fallen crypto empire on a “foundation of lies and false promises,” the New York Times said. Reports also raised questions about how how much Bankman and Fried knew about the schemes at FTX, The Verge added.
During Bankman-Fried’s month-long trial, his parents appeared to “truly suffer,” as the prosecution’s case may have punctured their “delusions” about their son’s innocence, Lopatto wrote,
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