US federal officials have announced that if Sam Bankman-Fried (SBF) is found guilty of fraud, $700 million in assets belonging to him will be confiscated.
According to new court documents shared in the FTX investigation, if Sam Bankman-Fried is found guilty of fraud, it will be approximately worth 700 million dollars was declared to be confiscated. US federal prosecutor Damian Williams A detailed list of “properties subject to confiscation” was shared in the court document submitted by
Known to belong to SBF on the list in question. millions of dollars of stocks and cryptocurrencies is located. The government uses customer deposits of these assets. obtained illegally claiming that if the SBF is found guilty of fraud, it is required by U.S. law. All assets will be confiscated.
Looking at the list of seized assets, among the largest allocations, approximately $525.5 million worth 55.273.469 Robinhood (HOOD) stake in crypto bank Silvergate $94.5 millionat Farmington State Bank $49.9 million and ED&F Man Capital Markets, Inc. in the company $20.7 million exists. Also among assets owned by SBF 3 different Binance accounts there is also.
At the same time, government officials declared that the SBF had three separate Binance belonging to your account “all cryptos and fiat currencies” He demands ice cream.
On the other hand, the majority of these assets, which are the subject of court documents, already by the government being held. SBF cannot access and move these assets even if they wanted to.