SBF suspected to replace lawyer, bringing in parents' colleague from Stanford Law School.

SBF has replaced top commercial litigation lawyer Martin Flumenbaum, who cited differences with the firm. Sources say the litigation will now be represented by former chairman of the American College of Trial Lawyers, David W. Mills, who has ties to Stanford University where both of SBF's parents are employed.

Change of Lawyer

According to sources cited by Semafor, SBF has parted ways with top commercial litigator Martin Flumenbaum of the prominent law firm "Paul, Weiss, Rifkind, Wharton & Garrison."

Flumenbaum stated:

A few days after FTX filed for bankruptcy protection, we notified Mr. Bankman-Fried of our differences, and we are no longer able to represent him in litigation.

SBF's potential litigation will now be handled by former chairman of the American College of Trial Lawyers, Greg Joseph.

Sources say the legal team also includes criminal law professor David W. Mills from Stanford Law School, where both of SBF's parents are professors.

While SBF has "not yet" been charged with any crimes, former CFTC enforcement chief Aitan Goelman stated that this case could potentially involve criminal charges.

Semafor claims that SBF is one of its investors, but SBF has not responded to their report.

SBF's Parents

SBF's father, Joseph Bankman, is an American lawyer and Ralph M. Parsons Professor of Law and Business at Stanford Law School.

His mother, Barbara H. Fried, is an Honorary Professor of Law at Stanford University's William W. and Gertrude H. Crockett Professor of Law Emerita.