US federal authorities have seized assets worth roughly $700 million that belonged to the bankrupt cryptocurrency exchange FTX and its founder Sam Bankman-Fried aka SBF.
U.S. federal prosecutor Damian Williams noted in the filing that “the government respectfully gives notice that the property subject to forfeiture as a result of the offenses described in Counts One through Four and Seven of Indictment 22 Cr. 673 (LAK) against SAMUEL BANKMAN-FRIED.”
The seized assets comprise 55,273,469 Robinhood shares worth about $525.5 million at the time of writing, $100 million at Silvergate Bank, $49.9 million at Farmington State Bank, and $20.7 million at ED&F Man Capital Markets, Inc.
The shares of Robinhood were in dispute between many parties. Sam Bankman-Fried attempted to retain 56 million Robinhood shares stating that he and Gary Wang borrowed the funds for Emergent to purchase the Robinhood Shares, from Alameda Research in four promissory notes.
Authorities seized most of FTX’s assets between January 4 and January 19. Three accounts maintained by FTX at Binance and Binance US are also listed in the court filings, but the asset value is not specified.
Also Read: FTX Claims to have lost $415 Million in Hacked Crypto
