Sam Bankman-Fried's Brother Lobbied Members of the US Congress Using Misappropriated Funds

Per Bloomberg and CoinDesk

Sam Bankman-Fried, the disgraced founder of FTX, is now facing charges while the investigation is still ongoing. It was previously mentioned that SBF's family was involved, but, recent filings reveal that his brother could have used misappropriated funds in his organization to lobby members of the US Congress.

Gabriel Bankman-Fried, the brother of SBF, built a lobbying organization known as the Guarding Against Pandemics. While FTX, without its co-founder, is facing bankruptcy proceedings, it is referred to as the Debtor.

The Debtor released a statement alleging how SBF's brother reportedly used the misappropriated funds to purchase a multi-million property located "a few blocks from the United States Capital." The FTX lawyers say that SBF's parents and brother are not cooperating with the investigation.

According to Puck News, SBF's mother, Barbara Fried, inspired Mind the Gap, a political action committee with 2,500 donors to the Democratic party. Mind the Gap allegedly took donations from SBF and FTX staff as well.

This comes as the legal filings revealed how FTX and advisors are working nonstop to see the stretch of the spending. Previously, it was reported that SBF bought lavish real estate properties for his parents, who both resided in a $16.4 million house in the Bahamas that was titled in their name.

“The Debtors and their advisors have been working tirelessly and nonstop over the last 70 plus days … to implement controls, recover and protect estate assets,”

Although the house that SBF's parents were staying in the Bahamas was titled under their name, the filing reveals that it was "intended to be the company's property."

Mind the Gap executive director Marissa McBride gave a statement to CoinDesk regarding the donations saying no amount was given directly to the organization but only to programs.

McBride: “Sam Bankman-Fried contributed to some of the programs that Mind the Gap recommended to its network, but he did not make any direct contributions to Mind the Gap,”

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Bloomberg

CoinDesk

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