About $600M in assets seized from FTX founder: Court docket submitting #600M #assets #seized #FTX #founder #Court docket #filingNews Headlines
The federal govt has seized much more than $600 million in assets from disgraced cryptocurrency executive Sam-Bankman Fried this thirty day period, according to a new court submitting.
The seizures are part of the prison circumstance versus Bankman-Fried, 30, who has pleaded not guilty to fraud and conspiracy charges joined to the alleged theft of billions of pounds from shoppers of and buyers in FTX, the now-bankrupt crypto exchange he founded.
Federal prosecutors presented on Friday a list of property topic to forfeiture as a result of the prison expenses, like money held in several banking companies and accounts alongside with more than 55 million Robinhood shares.
The most current seizure came on Thursday, when the governing administration took $94,570,490.63 in U.S. currency held at Silvergate Lender, according to the submitting. Numerous Binance accounts have also been seized, the filing shows, although their values had been not involved.
Bankman-Fried has been billed with 8 counts of fraud and conspiracy. Federal prosecutors have alleged Bankman-Fried orchestrated a person of the “biggest monetary frauds in American historical past” by steering billions in FTX purchaser and trader income and funneling it to his privately managed hedge fund Alameda Exploration.
Other funds were employed to purchase lavish actual estate and to make tens of tens of millions in political donations, court records stated.
He is tentatively scheduled to stand trial in Oct.
Bankman-Fried was extradited from the Bahamas, exactly where he lived in a multimillion-greenback mansion, on Dec. 21.
Prior to his arrest previous month, Bankman-Fried insisted in many interviews, such as just one with ABC Information, that he did not know about any inappropriate use of resources from FTX clients.
In the ABC Information job interview, Bankman-Fried told George Stephanopoulos that he has just a person ATM card and “$100,000 left in my lender account.”
“That is actually, to my know-how, that’s what I have,” he mentioned.
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