SAN JOSE, Calif. — Stanford Law School professor Joseph Bankman is using a “multimillion gift” he received from his embattled son Sam Bankman-Fried to pay for his son’s high-priced legal defense, according to a new report this week.
The report from Forbes also alleges that this gift to the longtime Stanford academic was created using money taken from Alameda Research, the sister company of Bankman-Friend’s doomed cryptocurrency exchange FTX.
One-time billionaire Bankman-Fried claimed in November that he only had $100,000 in his bank account following the collapse of FTX, prompting questions about how he can afford the team of high-powered attorneys he’s hired to fight an array of criminal charges, including wire fraud, money laundering, securities fraud and bribery.
