What Kind of Tax Advice Was Joe Bankman Giving to His Son?

We know that there were a lot of loans taken out. Loans are very effective tax dodge because instead of taking profits out and paying tax on the profits or selling stock, you just have to pay it back with interest. They had a whatever $16 million apartment that Sam supposedly had paid for or FTX somehow it was paid for for them. And they said they don't, they claim they not didn't know how that happened. Yet their name was signed on the deed. So that was a little dodgy. The mooch went down to the Bahamas for a day before the bankruptcy filing on November 9th and quickly realized that the situation was well beyond him and far out of control