FTX management demands Sam Bankman-Fried's parents return the stolen money

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The interim administration of the bankrupt cryptocurrency exchange FTX has sued the parents of former CEO Sam Bankman-Fried, demanding the return of “millions of dollars” to investors.

FTX's lawyers said Sam's parentsSam Bankman-Fried, Joseph Bankman and Barbara Fried were able to "use their access and influence" within FTX to enrich themselves by millions of dollars.

"Bankman-Frid's parents, Bankman and Friedknowingly used their access and influence within the exchange to enrich themselves by millions of dollars at the expense of FTX debtors and creditors. And together, they siphoned millions of dollars from the FTX Group for their own personal gain,” the lawsuit states.

As noted in the document, althoughFTX Group was touted as an independent and complex conglomeration of cryptocurrency exchanges and businesses, essentially a self-proclaimed “family business.”

Lawyers drew the court’s attention that back in 2018Joseph Bankman publicly called Alameda a “family business.” He also said he was an early investor in Alameda, the trading arm of FTX Group that its insiders used to misappropriate billions of dollars.

The day before, lawyer John Deaton, whospecializes in the legal defense of crypto companies, suggested that the US Department of Justice may be secretly helping the former CEO of a bankrupt exchange and his parents in resolving the problems of FTX.