Stanford University Return Millions Of Dollars Donated By FTX
FTX is suing Joseph Bankman and Barbara Fried for embezzling millions of dollars. The amount also includes a $5.5 million donation to Stanford University.
Joseph and Barbara are professors at Stanford Law School. University officials immediately responded to the news of their professors' fraud, saying they were in talks with FTX's attorneys and intended to return the funds in entirety. Stanford also said it had received "gifts" from FTX for pandemic-related prevention and research.
Meanwhile, Bankman and Fried have also responded to FTX's accusations, calling them “completely false”. Their attorneys are convinced that the accusations are an attempt to intimidate Sam Bankman-Fried's parents and to raise doubts with the jury weeks before their son’s trial.
"Mr. Ray and his massive team of lawyers, who are collectively running up countless millions of dollars in fees while returning relatively little to FTX clients, know better," says their statement.
