Jan 20 (Reuters) – Federal prosecutors have seized practically $700 million in belongings from FTX founder Sam Bankman-Fried in January, mostly in the variety of Robinhood stock, according to a Friday court docket submitting.
Bankman-Fried, who has been accused of stealing billions of pounds from FTX shoppers to pay out money owed incurred by his crypto-targeted hedge fund, has pleaded not guilty to fraud charges. He is scheduled to confront demo in October.
The Division of Justice exposed the seizure of Robinhood shares before this thirty day period, but it furnished a extra comprehensive list of seized assets Friday, including hard cash held at several banks and assets deposited at crypto exchange Binance.
The possession of the seized Robinhood shares, valued at about $525 million, has been the matter of disputes between Bankman-Fried, FTX, and bankrupt crypto loan company BlockFi.
The most recent asset seizure claimed by the DOJ took position on Thursday, when prosecutors seized $94.5 million in dollars from an account at Silvergate Bank which was associated with FTX Digital Markets, FTX’s subsidiary in the Bahamas. The DOJ seized additional than $7 million from other Silvergate accounts connected with Bankman-Fried and FTX.
The DOJ previously seized almost $50 million from an FTX Electronic Marketplaces account at Moonstone Bank, a tiny lender in Washington condition.
DOJ also mentioned that property in a few Binance accounts affiliated with Bankman-Fried ended up topic to legal forfeiture, but did not deliver an estimate of the value in individuals accounts.
Reporting by Dietrich Knauth Editing by Noeleen Walder and Daniel Wallis
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