SBF's Illegal Acts Impact Parents' Careers at Stanford Law

Stanford Law professors Joseph Bankman and Barbara Fried have begun to face professional consequences as a result of their son, Sam Bankman-Fried's (SBF) illegal actions. Bankman had to cancel his winter session course on tax policy, which was scheduled to take place at the same time that the family was accused of acquiring an $16.4 million vacation home owned by SBF's company, FTX, before the crypto exchange's collapse.

Fried, on the other hand, was not listed as an instructor for any courses. While this absence coincides with the fallout from FTX, where Fried became a central figure due to her political ties, she has stated that the decision to retire was a "long-planned" one and that she hopes to return to teaching in the future.

The consequences for Bankman and Fried highlight the domino effect of SBF's actions, which have now come back to haunt his family members. Despite this, SBF has continued to attempt to destabilize the crypto market. In recent weeks, he has accused Binance CEO Changpeng Zhao of contributing to FTX's fall and has even claimed that Zhao "threatened to walk at the last minute."

On December 9, SBF revealed his willingness to testify at a United States House hearing about the collapse of FTX. However, the fugitive controversially missed the deadline to respond to a Senate Banking Committee request to appear and testify during a hearing focused on FTX's bankruptcy in early December.

The professional consequences faced by Bankman and Fried serve as a reminder of the far-reaching impacts of illegal actions in the financial industry. As investigations into SBF and FTX continue, it remains to be seen what the ultimate repercussions will be for all those involved.