United States Authorities confiscated approximately $700 million worth of assets belonging to Sam Bankman-Fried, including 55 million shares in Robinhood, in connection with the case related to the collapse of FTX.
Federal Authorities announced the seizure of 150 million assets belonging to the co-founder and former CEO of FTX, Sam Bankman-Fried, with a significant portion attributed to Robinhood stock, per the court filing on Friday.
The Detail Of Sam Bankman-Fried Assets seized:
- The government seized 55,273,469 shares of Robinhood stock from an account held by “Emergent Fidelity Technologies” on January 4, 2023.
- The authorities seized $20,746,713.67 from an account held by “Emergent Fidelity Technologies” on January 4, 2023.
- United States regulatory bodies took $49,999,500 from an account named “FTX Digital Markets” at Moonstone Bank on January 4, 2023.
- On January 11, 2023, the government seized $5,322,385.32 in cash from an “FTX Digital Markets” account at Silvergate Bank.
- On January 11, 2023, the authorities took possession of $719,359.65 in cash in an “FTX Digital Markets” account at Silvergate Bank.
- The government confiscated $1,071.83 in cash from an account named “FTX Digital Markets” at Silvergate Bank on January 11, 2023.
- On January 19, 2023, the government seized $94,570,490.63 in cash held in an “FTX Digital Markets” account at Silvergate Bank.
A Brief History Of Bank-Man Fried Cases:
Apart from the assets mentioned above, the authorities have seized all the belongings, cash, and funds available in the Binance account numbers 35000066, 35155204 & 94086678.
Last month, Sam Bankman-Fried was apprehended in the Bahamas and brought to the United States regulatory bodies to face conspiracy, wire fraud, money laundering, and committing fraud as a part of an alleged plan to deceive investors.
Prosecutors are accusing Bankman-Fried of using investors’ funds for his benefit, which includes financing investments from his hedge fund Alameda Research, purchasing properties, and making political contributions.
Bankman-Fried denied charges against him and entered a plea of not guilty earlier this month. He stated that he had not committed any theft, and despite the bankruptcy filing of FTX in November, customers should be able to recover their funds.
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According to Federal authorities, Bankman-Fried has used the funds that investors intended to invest in FTX to purchase shares of Robinhood.
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