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In a lawsuit filed on Monday, Sam Bankman-Friedâs parents have been accused of being involved in Democratic dark money and âillegalâ election tactics.
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A right-leaning political research group identified the parents of suspected cryptocurrency fraudster Sam Bankman-Friedâs involvement with Democrat dark money and âillegalâ 2020 election strategies.
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 âfraudulently transferred and misappropriated fundsâ as part of FTXâs bankruptcy.
The two were accused of diverting millions of firm funds to their âpet causesâ in a lawsuit filed on Monday seeking the clawback. Bankman, who claims to have assisted FTX in ânavigating tax issues,â allegedly âconsidered having funds made available by Sam through Arabella,â one of the biggest dark-wing money advisory groups in the USA, whose board Bankman served on.
âThis meant that Bankman had unfettered access to the FTX Groupâs financials and corporate structure â two things that would have alerted him that money was moving between and among the FTX Exchanges, FTX Insiders, and other legal entities,â reads the filing.
The lawsuitâs footnote on page 19 disclosed Bankmanâs advising position.

Arabella oversees significant left-wing nonprofit organizations, which go on to sponsor tax-exempt corporations. Conservatives have increased their scrutiny of the firm because of this âdark moneyâ arrangement, according to the Washington Examiner.
Bro the story is that Sam Bankman Friedâs dad was on the board of left wing dark money behemoth Arabella Advisors and youâre mad conservatives are calling them out?! https://t.co/jJt0vy551q â Comfortably Smug (@ComfortablySmug) September 19, 2023
The âNew Venture Fund,â which âoffered a platform through which FTX.US and its donors could contribute to particular charitable causes,â is mentioned in the complaint, which seeks to recover money Bankman and Fried are accused of having âfraudulently transferred and misappropriated.â
âThis is a dangerous attempt to intimidate Joe and Barbara and undermine the jury process just days before their childâs trial begins,â the attorneys for Bankman and Fried said.
The US seized 1 million barrels of Iranian oil from the ship Suez Rajan in April, which was allegedly being sold to China by the IRGC.
Meanwhile, the NY Post says that Barbara Fried sent a document in late 2019 urging Democrats to give to a 501(c)(3) known as The Voter Registration Project or Everybody Votes, in accordance with a study from a right-leaning political research organization.
The Stanford professor argued that getting more Democrats registered to vote would be far more effective than simply donating to candidates, and encouraged donors to give 90% of their election contributions to Everybody Votes.
âNon- partisan voter registrationâ charities are â4 to 10 times more cost-effectiveâ at ânetting additional Democratic votes,â Fried wrote in the memo.
The charity ended up raising a whopping $190 million, according to recent filings cited by the Capital Research Center.
According to Parker Thayer, the reportâs author, charities and foundations are particularly prohibited from functioning to support a political party, in effect or in design, because they donât disclose donations until years after theyâve been made.
The tactic, which âmanaged to stay out of the news and as far as we know out of Republicansâ sight-lines,â Fried also advised individuals to keep quiet about, she wrote. Republicans wonât be surprisedâand wonât careâthat yet another group is attempting to raise money for voter registration in competitive states.
However, they would be very interested in the scope of our activities, the specifics of our targeting, and the names of the groups we are proposing.
An unidentified veteran Republican fundraiser and strategist said, âThis is the darkest of dark money.â
The news comes just days after federal prosecutors accused Bankman-Fried of using $100 million in stolen customer funds for political donations. While thereâs no evidence that he gave money to voter registration efforts or that his mother was involved in any wrongdoing, it underscores the impact the entire family had on politics.
In 2020, Vox reported on the memo from Mind The Gap and the millions the group raised aimed to raise.
But the new report from Capital Research Center reveals how effective the memo was with Democratic mega donors. Warren Buffettâs charitable foundation, the Susan Thompson Buffett Foundation, donated $5 million to voter registration efforts while George Soros donated $10.4 million, the report adds.
So many pies, so many hands in themâŠ
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