Crypto lawyer John Deaton recently called out several United States politicians for not demanding the indictment of the ill-famed founder of FTX, Sam Bankman-Fried’s parents. Deaton also took aim at Securities and Exchange Commission (SEC) Chair Gary Gensler, questioning his silence on the matter.
Deaton took to X (formerly Twitter) earlier today to demand the indictment of Sam Bankman-Fried’s parents:
Why hasn’t SBFraud’s parents been arrested or indicted? Where are the anti-crypto politicians? @ewarren @GaryGensler @BradSherman @SenSherrodBrown @SenJackReed @RepMaxineWaters why haven’t any of you called for both @SBF_FTX’s parents to be indicted? Is it because his dad advised… https://t.co/W53oyhYckI
— John E Deaton (@JohnEDeaton1) August 21, 2023
The politicians called out by Deaton included Senator Elizabeth Warren, Congressman Brad Sherman, Senator Jack Reed, Senator Sherrod Brown (Chairman of the Senate Banking Committee), and Congresswoman Maxine Waters (Ranking Member of the U.S. House Committee on Financial Services). The politicians are known to have an anti-crypto stance and are publicly critical of the crypto industry.
Deaton indicated that Bankman-Fried’s parents were not indicted due to his father, Joseph Bankman, who previously served as an advisor to Senator Warren and helped her draft and endorse tax legislation. The crypto lawyer added that the FTX founder’s mother, Barbara Freid, was a significant Democrat donor who runs a political action committee (PAC) that helps the Democratic Party.
Speaking on the politician’s refusal to prosecute Bankman-Fried’s parents for their role in FTX’s collapse, Deaton stated:
You talk about how crypto is nothing but fraudsters yet you are silent when it comes to your friends and donors. You all should be ashamed of yourselves. You have no honor, no integrity.
Deaton also called out SEC Chair Gary Gensler for failing to protect the crypto market and refusing to indict Bankman-Fried’s parents. The crypto lawyer accused the regulators and politicians of providing special treatment to the parents, despite being tied to the crypto exchange’s collapse in November last year.
Last week Deaton questioned why Joseph Bankman was allowed to keep the $10 million that his son had gifted to him in 2021. The funds for the gift reportedly came from Alameda Research, the sister firm of FTX. The crypto lawyer also highlighted the real estate assets that Bankman-Fried’s parents had in the Bahamas, which were reportedly funded by FTX.
