Sam Bankman-Fried’s parents bought their son a German shepherd to cheer him up

Sam Bankman-Fried’s parents bought their son a German shepherd to cheer him up

The parents of the disgraced Sam Bankman-Fried bought him a German shepherd puppy to cheer him up – while they desperately try to figure out how to pay his security and legal fees.

The FTX boss, 30, is spending time with his new pup, Sandor, while hiding out in dad John Bankman and mom Barbara Fried’s $4 million Palo Alto home.

John and Barbara – former Stanford Law School professors – are now said to be scrambling to find a way to pay for their son’s legal fees and security hired to protect their home.

They are believed to accept Bankman-Fried’s pleas of innocence in a $1.8 billion cryptocurrency scam and bought Sandor to cheer up their son – and also to protect him.

The alleged scammer was reportedly “closely advised” by his father, John Bankman, when he founded hedge fund Alameda Research in 2017.

The 30-year-old FTX chief was reportedly “closely advised” by his father, John Bankman, when he founded hedge fund Alameda Research in 2017

The family desperately tries to figure out how to pay for security around the home as well as Bankman-Friend's rising legal fees

The family desperately tries to figure out how to pay for security around the home as well as Bankman-Friend’s rising legal fees

Sources close to the family told Puck that money was “tight” and could even get tight – given that her son received a record $250 million bond.

Until recently, both of SBF’s parents taught law at university, but their world collapsed after their son was extradited from the Bahamas.

He will face trial in October on eight counts – including wire fraud, conspiracy, money laundering and campaign finance violations.

Prosecutors are calling it one of the “biggest financial scams in American history” — with the disgraced financier’s father also hiring his own criminal defense attorney.

His involvement in FTX and its collapse “remains unclear,” but sources said they were “convinced” his father was “capable of it in his eyeballs.”

Fried has retired from the university, while Bankman said he is on leave from teaching at Stanford for the quarter.

Until recently, both of SBF's parents taught law at university, but their world collapsed after their son was extradited from the Bahamas

Until recently, both of SBF’s parents taught law at university, but their world collapsed after their son was extradited from the Bahamas

Valued at $4 million, SBF's childhood home is a modest five-bedroom home that Joseph and Barbara have owned since the mid-1990s

Valued at $4 million, SBF’s childhood home is a modest five-bedroom home that Joseph and Barbara have owned since the mid-1990s

The parents have vowed to stand by their son and “help him explain what happened” – which includes spending “all their money” to defend him.

They also bought him a German shepherd for security and company as he was “abandoned” by his friends.

He was described as “prizing Twitter consumption” and dealing with federal wire fraud laws before his trial.

Both parents have been described as “obsessed” with ethics and believe their son is innocent and “made mistakes”.

Sources say they believe what happened to him is “tragic” because he never intended to do anything wrong.

His lawyer claimed this week that a car tried to break through the metal barricade in front of their home, with inmates telling security “they won’t be able to keep us out”.

Sam Bankman-Fried will appear in court Thursday where he was granted $250 million bail

Sam Bankman-Fried will appear in court Thursday where he was granted $250 million bail

The home was built in 1917 and is one block from the Stanford campus.  It has five bedrooms and three bathrooms

The home was built in 1917 and is one block from the Stanford campus. It has five bedrooms and three bathrooms

It even features a swimming pool, which Bankman-Fried will have full access to during his comfortable confinement

It even features a swimming pool, which Bankman-Fried will have full access to during his comfortable confinement

In addition to the collapse of its stock market, Feds claim that SBF stole $1.8 billion of its investors’ money to fund its own life.

SBF appeared Thursday in Manhattan federal court, where a judge signed the “very restrictive” bail agreement that allowed the one-time multi-billionaire to enter a period of house arrest 3,000 miles away with an ankle monitor.

The judge allowed the house arrest on the condition that his parents put up their house as security.

Valued at $4 million, SBF’s childhood home is a modest five-bedroom home that Joseph and Barbara have owned since the mid-1990s.

It’s a far cry from the $40 million penthouse where the 30-year-old has settled in the Bahamas, but it serves as a climb up to the rat-infested cell at Fox Hill prison where he was being held until Wednesday would.

Bankman-Fried's mother, Barbara, is due in court Thursday.  She and her husband, both law professors, agreed to provide their home as collateral in case their son tries to skip his upcoming trial

Bankman-Fried’s mother, Barbara, is due in court Thursday. She and her husband, both law professors, agreed to provide their home as collateral in case their son tries to skip his upcoming trial

Bankman-Fried is shown Thursday leaving court after being granted bail of $250 million - the largest pretrial sum in history

Bankman-Fried is shown Thursday leaving court after being granted bail of $250 million – the largest pretrial sum in history

A map shows some of the known properties in the Bahamas associated with FTX, its founder Sam Bankman-Fried and others in his inner circle.  Lawyers for FTX said the company spent $300 million buying property in the Bahamas

A map shows some of the known properties in the Bahamas associated with FTX, its founder Sam Bankman-Fried and others in his inner circle. Lawyers for FTX said the company spent $300 million buying property in the Bahamas

In the quiet college town, Bankman-Fried will be at home except for travel related to exercise, mental health and substance abuse treatment, per US District Judge Gabriel Gorenstein’s order.

The judge also allowed Bankman-Fried to shop online, but capped purchases at $1,000, excluding attorneys’ fees.

His parents guaranteed his bail with the equity of their home, although neither they nor the other unknown parties who helped secure it had to come up with the full cash amount to secure his freedom.

Instead, they will be held liable if he fails to appear in court. SBF appeared in court tied up in a dark suit and tie.

On Thursday, he spoke only to confirm that he understood the charges and the bail agreement.

In addition to US real estate, FTX’s spectacular collapse has left a tangled web of real estate holdings in the Bahamas linked to the company and its founder. They were revealed to have spent $256.3 million this year alone.

Bahamian regulators are now trying to reclaim the properties purchased with fraudulent funds, telling a federal bankruptcy judge in Delaware that allowing the properties to administer in US courts would be both administratively ineffective and illegal under Bahamian law.