The Justice Department has seized more than $170 million in cash from multiple accounts associated with disgraced FTX co-founder Sam Bankman-Fried, according to court documents filed on Friday.
The Justice Department has seized more than $170 million in cash from multiple accounts associated with disgraced FTX co-founder Sam Bankman-Fried, according to court documents filed Friday. This is in addition to an estimated $526 million in stock which was also seized by the federal government.They included $94.
Prosecutors also seized 55.27 million shares of Robinhood stock from an ED&F Man Capital Markets account, according to the court filing. The stock for Robinhood, an online trading platform, closed at $9.52 a share Friday, putting the value of that seizure at more than $526 million.in the Bahamas on federal charges of wire fraud and conspiracy related to the collapse of his cryptocurrency exchange FTX.to all charges in a Jan. 3 hearing. He remains free on $250 million bond.
The sudden collapse of FTX has reverberated throughout the financial world and garnered questions about the viability of cryptocurrency. On Nov. 11, FTXCryptocurrency
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U.S. seizes $170 million linked to FTX and Bankman-FriedThe Department of Justice has seized $170 million in cash with links to FTX as part of the criminal case into disgraced cryptocurrency executive Sam Bankman-Fried. The money comes on top of $525 million in Robinhood shares the government has seized.
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