In a shocking lawsuit, it has been revealed that Sam Bankman-Fried’s mother, Barbara Fried, allegedly urged her son to conceal millions of dollars in donations to her pro-Democrat political action committee (PAC), Mind the Gap. Creditors of Bankman-Fried’s failed cryptocurrency firm, FTX, claim that Fried advised her son to make the donations through his subordinates to avoid violating federal campaign finance disclosure rules. The lawsuit, obtained by The Post, includes allegations that Bankman-Fried’s father, Joseph Bankman, held an advisory role at Arabella Advisors, a consulting firm connected to a pro-Democrat “dark money” group. Bankman-Fried himself has been accused by federal prosecutors of funneling $100 million in political donations through straw donors. The lawsuit also claims that Fried and Bankman siphoned millions from FTX before the company’s collapse. According to the lawsuit, Fried aimed to disguise Bankman-Fried’s identity as a political donor, emphasizing secrecy and stealth. It alleges that Nishad Singh, the former head of engineering at FTX, served as a conduit for the donations. Singh and Ryan Salame, another former executive at the company, have pleaded guilty and may testify at Bankman-Fried’s upcoming fraud trial. Although Bankman-Fried’s parents have not been accused of any wrongdoing, the lawsuit alleges that they profited from FTX before their son’s downfall. Fried allegedly sought to use Nishad Singh’s name on a disclosed donation to Mind the Gap, given her connection to Bankman-Fried being publicly known. In August 2020, Fried suggested substituting someone else’s name in a nondisclosed form. The lawsuit accuses Bankman-Fried’s parents of enriching themselves at the expense of the company and its creditors. The Post has reached out to Fried, Bankman, and Bankman-Fried for comment.
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