STANDFORD UNIVERSITY WILL RETURN ‘GIFTS’
DONATED BY FTX:
Stanford University will be returning “gifts,” purportedly worth millions of dollars, it received from FTX, allegedly orchestrated by Sam Bankman-Fried’s parents, according to a Bloomberg report.
Joseph Bankman and Barbara Fried are professors at Stanford Law School. On Monday, the FTX Group sued Bankman and Fried for misappropriating millions, including $5.5 million in donations to Stanford University.
“We have been in discussions with attorneys for the FTX debtors to recover these gifts and we will be returning the funds in their entirety,” a Stanford University spokesperson said, according to Bloomberg. “Stanford received gifts from the FTX Foundation and FTX-related companies largely for pandemic-related prevention and research.”