SBF’s brother founded an organization to lobby congressmen

With each passing day, new discoveries regarding Sam Bankman-Fried [SBF] and FTX are found. Just a day ago, a new request revealed that the bankrupt exchange owes money to companies such as Apple, Binance and Netflix. Before that, BlockFi accidentally disclosed its $1.2 billion exposure to FTX.

Now, Bankman-Fried’s parents and brother and Reportedly prospect. In a recent lawsuit, lawyers for Bankman-Fried’s friends and relatives demanded to answer questions and provide financial documents about their personal wealth. In addition, attorneys have also requested other documentation that may reveal any form of FTX money transfer.

The filing further revealed that Sam Bankman-Fried’s brother, Gabriel Bankman-Fried, had created an organization that lobbied members of the United States Congress. It was reportedly based on a property near the US Capitol.

FTX lawyers are trying to question SBF’s family

It is a known fact that FTX was involved in lobbying elected officials and making campaign donations. In fact, SBF was a generous donor, especially to the Democrats. As recently reported, he approved more than $40 million in funds in 2022. He also contributed $300,000 to Democratic members of the House Financial Services Committee. Notably, Robert Francis “Beto” O’Rourke, an American politician, received $1 million in campaign contributions from SBF.

Read more: Beto O’Rourke still holding $100,000 of Sam Bankman-fried’s $1 million donation

FTX is currently tracking down hidden assets that could potentially be used to pay back creditors owed billions. So to take a step in that direction, lawyers have asked permission to question Bankman-Fried’s family and a host of former top executives of the company.

Joseph Bankman and Barbara Fried are said to have been involved in their son’s business. Joseph Bankman offered tax advice to stock exchange employees. The filing even revealed that he assisted in the legal team’s recruiting process. Furthermore, Fried also set up a political action committee that received funding from FTX and its top executives.

Read also: FTX Bankruptcy Court held by appointment of an independent investigator