Image default

Bankman-Fried Belongings of Virtually $700 Million Might Be Forfeited

Jan. 20, 2023, 11:15 PM

Sam Bankman-Fried’s belongings valued at nearly $700 million shall be topic to forfeiture if he’s discovered responsible of fraud, in accordance with federal prosecutors main the case in opposition to the FTX founder.

In a courtroom submitting Friday, the US Legal professional for the Southern District of New York, Damian Williams, outlined 10 accounts, with a mixture of shares, money and cryptocurrency topic to forfeiture.

Sam Bankman-Fried departs from courtroom in New York Jan. 3.

Photographer: Stephanie Keith/Bloomberg

The asset pool included about 55 million shares Bankman-Fried held in Robinhood Markets Inc. At Friday’s closing worth these shares have been valued at $526 million. The Division of Justice beforehand introduced it had seized the shares, which …

Related posts

Coinbase Provides $256 Billion Reminder About Agonies of Chapter


FTX’s LedgerX Up for Sale as Restructuring Course of Picks Up (2)


Junk Defaults to Keep Very Low Regardless of Ukraine Warfare, Fitch Says


Leave a Comment