Hacker News

"Business Ethics"...truly the best and brightest for the Ivy league students.

This is the best summary I could come up with:

Sam Bankman-Fried’s parents spent many of their waking hours in October seated on a wooden bench in a Manhattan courtroom, a few feet behind the former cryptocurrency mogul, watching as federal prosecutors convinced a jury their son had orchestrated one of the biggest financial frauds in history.

Now, as Bankman-Fried awaits sentencing that could send him to prison for the rest of his life, Joseph Bankman and Barbara Fried — formerly eminent Stanford Law professors — should worry about their own potential criminal exposure for their roles in their son’s collapsed crypto empire, legal experts say.

Bankman, a tax expert and clinical psychologist, served as an adviser to his son on business matters as far back as 2018 and remained a key member of his inner circle through the exchange’s implosion a year ago, according to the civil suit and evidence from the criminal trial.

Fried, an ethics scholar and co-founder of a Democratic fundraising organization, advised her son on concealing campaign donations in a scheme that elicited guilty pleas from two of his top deputies, according to the civil suit.

Singh and Ryan Salame, former co-CEO of FTX’s Bahamian subsidiary, already have pleaded guilty to violating campaign finance law for their part in that scheme by making donations that Bankman-Fried reimbursed.

Bankman would regularly flash his son a thumbs up even in the trial’s tensest moments; Fried, on multiple occasions, broke into tears during breaks in testimonies, her husband’s arm wrapped around her.

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