by The federal authorities has seized more than $600 million in assets from disgraced cryptocurrency govt Sam-Bankman Fried this month, in line with a brand new courtroom filing.
The seizures are a part of the prison case towards Bankman-Fried, 30, who has pleaded not guilty to fraud and conspiracy prices linked to the alleged theft of billions of {dollars} from clients of and traders in FTX, the now-bankrupt crypto exchange he based.
Federal prosecutors offered on Friday an inventory of assets topic to forfeiture because of the prison prices, together with money held in varied banks and accounts together with more than 55 million Robinhood shares.
The most up-to-date seizure got here on Thursday, when the federal government took $94,570,490.63 in U.S. forex held at Silvergate Bank, in line with the filing. Several Binance accounts have additionally been seized, the filing exhibits, although their values weren’t included.
Former FTX CEO Sam Bankman-Fried, who faces fraud prices over the collapse of the bankrupt cryptocurrency change, arrives on the day of a listening to at Manhattan federal courtroom in New York City, Jan. 3, 2023.
David Dee Delgado/Reuters, FILE
Bankman-Fried has been charged with eight counts of fraud and conspiracy. Federal prosecutors have alleged Bankman-Fried orchestrated one of many “largest monetary frauds in American historical past” by steering billions in FTX buyer and investor cash and funneling it to his privately managed hedge fund Alameda Research.
Other funds had been used to purchase lavish actual property and to make tens of hundreds of thousands in political donations, courtroom information acknowledged.
He is tentatively scheduled to face trial in October.
Bankman-Fried was extradited from the Bahamas, the place he lived in a multimillion-dollar mansion, on Dec. 21.
Before his arrest final month, Bankman-Fried insisted in quite a few interviews, together with one with ABC News, that he didn’t find out about any improper use of funds from FTX clients.
In the ABC News interview, Bankman-Fried informed George Stephanopoulos that he has only one ATM card and “$100,000 left in my checking account.”
“That’s truthfully, to my data, that’s what I’ve,” he mentioned.
