3 ms·

Related thread on the parents: https://news.ycombinator.com/item?id=33915097 https://news.ycombinator.com/item?id=33915097 A few commenters were pretty gullib

Related thread on the parents: https://news.ycombinator.com/item?id=33915097 https://news.ycombinator.com/item?id=33915097 A few commenters were pretty gullible; they couldn’t imagine people lying about why they quit their jobs.

dmix 4y ago
From the article: > No evidence has emerged yet to link Bankman and Fried to their son’s alleged crimes, and their level of legal culpability depends on their knowledge of the alleged fraud, Barhoma said. That HN thread you linked to has multiple people providing good explanations why an emeritus professor retiring is nothing like “quitting” and they are right. They have plenty of reasons to not want to optinally teach classes they didn’t have to teach, at a minimum helping their son in crisis. That’s hardly a suggestion of guilt
- hitekker 4y ago
  I'm actually a bit surprised at the naiveté. https://www.bloomberg.com/news/articles/2022-12-13/sam-bankman-fried-s-stanford-law-professor-parents-tangled-in-ftx-probes https://www.bloomberg.com/news/articles/2022-12-13/sam-bankm... explicitly says > “Bankman-Fried, his parents, and other FTX and Alameda employees used FTX customer funds for a variety of personal expenditures, including luxury real estate purchases, private jets, documented and undocumented personal loans, and personal political donations,” the CFTC said in its complaint. https://www.nytimes.com/2022/12/12/technology/sbf-parents-ftx-collapse.html https://www.nytimes.com/2022/12/12/technology/sbf-parents-ft... > The couple’s careers have been upended. Ms. Fried, 71, resigned last month as chairwoman of the board of a political donor network, Mind the Gap, which she had helped start to support Democratic campaigns and causes. Mr. Bankman, 67, has postponed a Stanford class he had been scheduled to teach in the winter, and he’s recruited a white-collar criminal defense lawyer to represent him. My guess is that the idea of complicity must not sit well with folks who rub shoulders with criminals.
  - dmix 4y ago
    How does any of that point to them being involved? SBF was well regarded by the media and was in control of an alleged billion dollar company. Why wouldn’t the parents think it’s normal to get a nice home in the Bahamas? Were they supposed to be digging into his financials and software architecture that allowed Alameda to pull unlimited funds? I don’t see how any of their expertise would even contribute to this scam. It’s simple enough what he did… just not tell anyone he’s using FTX assets to cover reckless Alameda gambling. Do you really think he confessed to his academic parents who built their careers on risk management? Which one of us is being naive here? This didn’t take a family of experts to pull off.
SilasX 4y ago
Wait — so all those CEOs who wanted more time with their families right after a massive scandal blew up that they were known to have a hand in …?
UncleMeat 4y ago
“Not teaching a class” and “quit” mean different things.

dmix 4y ago

From the article: > No evidence has emerged yet to link Bankman and Fried to their son’s alleged crimes, and their level of legal culpability depends on their knowledge of the alleged fraud, Barhoma said. That HN thread you linked to has multiple people providing good explanations why an emeritus professor retiring is nothing like “quitting” and they are right. They have plenty of reasons to not want to optinally teach classes they didn’t have to teach, at a minimum helping their son in crisis. That’s hardly a suggestion of guilt

hitekker 4y ago
I'm actually a bit surprised at the naiveté. https://www.bloomberg.com/news/articles/2022-12-13/sam-bankman-fried-s-stanford-law-professor-parents-tangled-in-ftx-probes https://www.bloomberg.com/news/articles/2022-12-13/sam-bankm... explicitly says > “Bankman-Fried, his parents, and other FTX and Alameda employees used FTX customer funds for a variety of personal expenditures, including luxury real estate purchases, private jets, documented and undocumented personal loans, and personal political donations,” the CFTC said in its complaint. https://www.nytimes.com/2022/12/12/technology/sbf-parents-ftx-collapse.html https://www.nytimes.com/2022/12/12/technology/sbf-parents-ft... > The couple’s careers have been upended. Ms. Fried, 71, resigned last month as chairwoman of the board of a political donor network, Mind the Gap, which she had helped start to support Democratic campaigns and causes. Mr. Bankman, 67, has postponed a Stanford class he had been scheduled to teach in the winter, and he’s recruited a white-collar criminal defense lawyer to represent him. My guess is that the idea of complicity must not sit well with folks who rub shoulders with criminals.
- dmix 4y ago
  How does any of that point to them being involved? SBF was well regarded by the media and was in control of an alleged billion dollar company. Why wouldn’t the parents think it’s normal to get a nice home in the Bahamas? Were they supposed to be digging into his financials and software architecture that allowed Alameda to pull unlimited funds? I don’t see how any of their expertise would even contribute to this scam. It’s simple enough what he did… just not tell anyone he’s using FTX assets to cover reckless Alameda gambling. Do you really think he confessed to his academic parents who built their careers on risk management? Which one of us is being naive here? This didn’t take a family of experts to pull off.

SilasX 4y ago

Wait — so all those CEOs who wanted more time with their families right after a massive scandal blew up that they were known to have a hand in …?

UncleMeat 4y ago

“Not teaching a class” and “quit” mean different things.