A new scandal has erupted about Allan Joseph Bankman and his wife, Barbara Fried, who are presently being sued to recover some of the $26 million that were "fraudulently transferred and misappropriated funds" as part of FTX's bankruptcy.
The two were accused of diverting millions of firm funds to their "pet causes" in a lawsuit filed on Monday seeking the clawback. Bankman, who claims to have assisted FTX in "navigating tax issues," allegedly "considered having funds made available by Sam through Arabella," one of the biggest dark-wing money advisory groups in the USA, whose board Bankman served on.
"This meant that Bankman had unfettered access to the FTX Group's financials and corporate structure — two things that would have alerted him that money was moving between and among the FTX Exchanges, FTX Insiders, and other legal entities," reads the filing.
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The lawsuit's footnote on page 19 disclosed Bankman's advising position.