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

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.

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 …