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Bankman specifically extracted 10M by creating a tax-friendly scheme: SBF would increase his own loan from 250 to 260M from Alameda, donate it to his dad, cance
by xwolfi 3y ago
Bankman specifically extracted 10M by creating a tax-friendly scheme: SBF would increase his own loan from 250 to 260M from Alameda, donate it to his dad, cancel the loan later while offsetting with a charity donation to his mother.
Why did Bankman father do it ? He was humiliated by his 200k a year salary at FTX US and commanded his son pay him more.