The legal representatives of Joseph Bankman and Barbara Fried have formally requested the dismissal of an action brought against them by the now-insolvent digital currency platform FTX FTT/USD.

The exchange’s legal action aims to reclaim what it describes as illicitly transferred monies. FTX initiated efforts in September 2023 to retrieve “millions of dollars” from Bankman and Fried.

Their son, Sam Bankman-Fried, was later found guilty on seven charges related to defrauding customers and the federal government, and a sentencing hearing is set for March.

The defense for Bankman and Fried, both of whom hold academic positions at Stanford Law School, has made the case that Bankman never held a…

Read more on Benzinga